Vaughn Corp.designs and manufactures mascot uniforms for high school college, and professional sports teams. Since each team's uniform is unique in color and design, Vaughn uses a job order costing system. On January 1, the T-accounts for some of Vaughn's primary balance sheet accounts were as follows: Raw Materials Inventory Beg 19,300 Work in Process Inventory Beg. 31,000 Finished Goods Inventory Cash Beg 26,400 Beg. 38,600 Accounts Receivable Beg 71,300 Accounts Payable Beg. 41.200 During the year, the following events occurred: 1 Vaughn purchased raw materials costing $86,100 on account. 2 Vaughn used $93,000 of raw materials in production. Of these, 70% were classified as direct materials and 30% as indirect materials. (Vaughn maintains a single Raw Materials Inventory account.) 3. Vaughn used 39,900 hours of direct labor. The company's average direct labor rate was $8 per hour (credit Wages Payable). 4. The company's only indirect labor cost was the salary of a security guard hired to watch the company's shop after hours. The guard's annual salary was $23,500 (credit Wages Payable) 5. Other manufacturing overhead costs the company incurred on account totaled $69,500. 6. Vaughn applied $134,000 in manufacturing overhead. 7. The company completed production of goods costing $325,000. 8. The company's Cost of Goods Sold balance was $303,750 before adjusting for over- or underapplied overhead. 9. Sales revenue was $452.000 (all sales were made on account). 10. Vaughn collected $455,000 from customers. 11. The company paid accounts payable of $107.000. 12. At year-end, all wages earned during the year had been paid. Cash Accounts Receivable Accounts Payable bodo lodo 100 do lodo lo Wages Payable Sales Revenue Vaughn Corp.designs and manufactures mascot uniforms for high school college, and professional sports teams. Since each team's uniform is unique in color and design, Vaughn uses a job order costing system. On January 1, the T-accounts for some of Vaughn's primary balance sheet accounts were as follows: Raw Materials Inventory Beg 19,300 Work in Process Inventory Beg. 31,000 Finished Goods Inventory Cash Beg 26,400 Beg. 38,600 Accounts Receivable Beg 71,300 Accounts Payable Beg. 41.200 During the year, the following events occurred: 1 Vaughn purchased raw materials costing $86,100 on account. 2 Vaughn used $93,000 of raw materials in production. Of these, 70% were classified as direct materials and 30% as indirect materials. (Vaughn maintains a single Raw Materials Inventory account.) 3. Vaughn used 39,900 hours of direct labor. The company's average direct labor rate was $8 per hour (credit Wages Payable). 4. The company's only indirect labor cost was the salary of a security guard hired to watch the company's shop after hours. The guard's annual salary was $23,500 (credit Wages Payable) 5. Other manufacturing overhead costs the company incurred on account totaled $69,500. 6. Vaughn applied $134,000 in manufacturing overhead. 7. The company completed production of goods costing $325,000. 8. The company's Cost of Goods Sold balance was $303,750 before adjusting for over- or underapplied overhead. 9. Sales revenue was $452.000 (all sales were made on account). 10. Vaughn collected $455,000 from customers. 11. The company paid accounts payable of $107.000. 12. At year-end, all wages earned during the year had been paid. Cash Accounts Receivable Accounts Payable bodo lodo 100 do lodo lo Wages Payable Sales Revenue