- Using the information prepare a manufacturing statement

- Using the information prepare a partial income statement

Snoopy Company uses a job order costing system. The following inventory balances are available on January 1, 2021: Raw Materials $19,400 Work in Process $37,000 Finished Goods $152,000 The Work in Process Inventory consisted of 3 jobs: #501 $13,600; #502 $10,600; and #503 $12,800 The Finished Goods Inventory consisted of 2 jobs: #499 $84,700 and #500 $67,300 Snoopy uses a normal costing system with an overhead rate based on machine hours. The following budgeted information was available for the year 2021: Factory overhead costs $446,500 and machine hours 47,000. During 2021, the following transactions took place: 1. Raw materials costing $74,000 were purchased on account. 2. Total factory labor charges accrued were $146,000. 3. A summary of material requisitions and time tickets appeared as follows: Job No. Material Requisitions Direct Labor Cost Machine Hours 501 $6,100 $8,800 6,400 502 7,900 7,800 4,200 503 8,200 6,600 5,600 504 10,800 18,600 14,300 505 5,200 13,900 1,900 506 4,300 9,100 12,700 507 10,100 12,400 1,800 508 2,600 3,800 900 sub-total $55,200 $81,000 47,800 Indirect 13,700 65,000 Total $68,900 $146,000 4. Other factory overhead costs include $110,000 depreciation on factory equipment, $26,200 of expired factory insurance, $18,400 of accrued property taxes, and $216,400 of miscellaneous factory costs paid in cash. 5. Job Nos. 501, 502, 503, 504, and 507 were completed. 6. Job Nos. 499, 500, 503, 504, and 507 were sold for $800,000 cash. A. Complete the cost flow diagram and job order cost sheets and make the required general journal entries in the attached workpapers. Be sure to enter the beginning balances of the inventory accounts and be sure to compute and SHOW the ending balances of the accounts. Raw Material Lavestor Factory Perrell Work Is Process lurretary Finished Good lumestory Cast of Good Sold upra Factory Overhead COGNI Cast Job Consputation Zadap TIF Job Ne Cout COGS Job Ne Cost Zodiario Job Ne Cost Poona DOO Beg VOS NO Beg DM DL OH Total DM DL OH Total DM DL OH Total NO.NO Bez DUE DL OH Total JOS NO Beg DI DL OH Total Beg DM DL OH Total POBNO Beg DM DL OH Total JOB NO Beg DAY DL OH Tor OSNO POBO Dies DM DL OH Total DM DL OH Total GENERAL JOURNAL GENERAL JOURNAL Snoopy Company uses a job order costing system. The following inventory balances are available on January 1, 2021: Raw Materials $19,400 Work in Process $37,000 Finished Goods $152,000 The Work in Process Inventory consisted of 3 jobs: #501 $13,600; #502 $10,600; and #503 $12,800 The Finished Goods Inventory consisted of 2 jobs: #499 $84,700 and #500 $67,300 Snoopy uses a normal costing system with an overhead rate based on machine hours. The following budgeted information was available for the year 2021: Factory overhead costs $446,500 and machine hours 47,000. During 2021, the following transactions took place: 1. Raw materials costing $74,000 were purchased on account. 2. Total factory labor charges accrued were $146,000. 3. A summary of material requisitions and time tickets appeared as follows: Job No. Material Requisitions Direct Labor Cost Machine Hours 501 $6,100 $8,800 6,400 502 7,900 7,800 4,200 503 8,200 6,600 5,600 504 10,800 18,600 14,300 505 5,200 13,900 1,900 506 4,300 9,100 12,700 507 10,100 12,400 1,800 508 2,600 3,800 900 sub-total $55,200 $81,000 47,800 Indirect 13,700 65,000 Total $68,900 $146,000 4. Other factory overhead costs include $110,000 depreciation on factory equipment, $26,200 of expired factory insurance, $18,400 of accrued property taxes, and $216,400 of miscellaneous factory costs paid in cash. 5. Job Nos. 501, 502, 503, 504, and 507 were completed. 6. Job Nos. 499, 500, 503, 504, and 507 were sold for $800,000 cash. A. Complete the cost flow diagram and job order cost sheets and make the required general journal entries in the attached workpapers. Be sure to enter the beginning balances of the inventory accounts and be sure to compute and SHOW the ending balances of the accounts. Raw Material Lavestor Factory Perrell Work Is Process lurretary Finished Good lumestory Cast of Good Sold upra Factory Overhead COGNI Cast Job Consputation Zadap TIF Job Ne Cout COGS Job Ne Cost Zodiario Job Ne Cost Poona DOO Beg VOS NO Beg DM DL OH Total DM DL OH Total DM DL OH Total NO.NO Bez DUE DL OH Total JOS NO Beg DI DL OH Total Beg DM DL OH Total POBNO Beg DM DL OH Total JOB NO Beg DAY DL OH Tor OSNO POBO Dies DM DL OH Total DM DL OH Total GENERAL JOURNAL GENERAL JOURNAL