Use "given" and your "results" from HW4 Question 15 on CONNECT to complete the Project requirements below for Superior Company. Highlighted requirements are check figures that can be found in comments section on CONNECT. NOTE: Make sure you click "show correct answers" on CONNECT if you got any part of the problem wrong. Please make sure you are using CORRECT answers 1) Write summary journal entries for Superior Company for the following transactions for the period as calculated/given in the problem on CONNECT. a) Purchase of raw material. b) Transfer of Raw material to Work-in-Process c) Application of Direct Labor to Work-in-Process d) Application of Manufacturing Overhead to Work-in-Process e) Transfer of Work-in-Process to Finished Goods f) Revenue for the sale of goods manufactured g) Cost of goods sold h) The incurrence of the actual overhead costs (use various" to represent multiple accounts) i) Clear the Overhead account. 2) Use the T-accounts below. Include the beginning balances in each of the accounts below. Post the journal entries written in 2) above. Determine the ending balances for each account and verify that they agree with the ending balances used on CONNECT. Raw Material Work-in-Process Finished Goods MOH Clearing COGS Show correct answers Prepare schedules OI COSI O yoous manufactured and cost of yoous sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods manufactured. Superior Company Schedule of Cost Goods Manufactured Direct materials: Beginning raw materials inventory $ 53,000 Add: Purchases of raw materials 264,000 Total raw materials available 317,000 Less: Ending raw materials inventory 32,000 Raw materials used in production Direct labor Manufacturing overhead applied to work in process Total manufacturing costs $ 285,000 26,000 369,000 680,000 58,000 738,000 24,000 $ 714,000 Add: Beginning work in process inventory Less: Ending work in process inventory Cost of goods manufactured Use "given" and your "results" from HW4 Question 15 on CONNECT to complete the Project requirements below for Superior Company. Highlighted requirements are check figures that can be found in comments section on CONNECT. NOTE: Make sure you click "show correct answers" on CONNECT if you got any part of the problem wrong. Please make sure you are using CORRECT answers 1) Write summary journal entries for Superior Company for the following transactions for the period as calculated/given in the problem on CONNECT. a) Purchase of raw material. b) Transfer of Raw material to Work-in-Process c) Application of Direct Labor to Work-in-Process d) Application of Manufacturing Overhead to Work-in-Process e) Transfer of Work-in-Process to Finished Goods f) Revenue for the sale of goods manufactured g) Cost of goods sold h) The incurrence of the actual overhead costs (use various" to represent multiple accounts) i) Clear the Overhead account. 2) Use the T-accounts below. Include the beginning balances in each of the accounts below. Post the journal entries written in 2) above. Determine the ending balances for each account and verify that they agree with the ending balances used on CONNECT. Raw Material Work-in-Process Finished Goods MOH Clearing COGS Show correct answers Prepare schedules OI COSI O yoous manufactured and cost of yoous sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods manufactured. Superior Company Schedule of Cost Goods Manufactured Direct materials: Beginning raw materials inventory $ 53,000 Add: Purchases of raw materials 264,000 Total raw materials available 317,000 Less: Ending raw materials inventory 32,000 Raw materials used in production Direct labor Manufacturing overhead applied to work in process Total manufacturing costs $ 285,000 26,000 369,000 680,000 58,000 738,000 24,000 $ 714,000 Add: Beginning work in process inventory Less: Ending work in process inventory Cost of goods manufactured