You are tasked with preparing the financial statements for a Pho restaurant's trial day. The restaurant operates from $7$ AM to $5$ PM$,$ and you are required to report on the financial performance for the morning session $(7$ AM to $12$ PM$).$

Information Provided:

$1.$ Capital Contribution to Start the Business:

The owner contributed $500,000$ VND in cash to start the business.

$2.$ Raw Materials Purchase $($Noodles & Beef$)$:

Raw materials were purchased for the production of $20$ bowls of Pho at a cost of $200,000$ VND$.$ All the raw materials were processed during the morning session, including cleaning, cutting, and packing the ingredients for $20$ bowls. The cook

completes the final preparation $($cooking with hot water$)$ when a customer orders a bowl.

$3.$ Cook's Wage for the Day:

The cook$$s total wage for the day $(7$ AM $-5$ PM$)$ is $40,000$ VND$.$ Most of the cook's work is done in the morning, including processing the raw materials for all $20$ bowls.

$4.$ Issue of Raw Materials to Production $(20$ Bowls$)$:

Raw materials worth $200,000$ VND were transferred from Inventory to Work in Process $($WIP$)$ for the $20$ bowls of Pho processed during the morning.

$5.$ Sales Commission:

A sales commission of $3,000$ VND is earned per sale, paid when sale is made. Only $1$ bowl was sold in the morning session.

$6.$ Advertisement Expense:

The restaurant distributed flyers from $7$ AM to $8$ AM at a cost of $20,000$ VND$,$ which was paid at $8$ AM$.$

$7.$ Sale of $1$ Bowl of Pho:

The restaurant sold $1$ bowl of Pho for $40,000$ VND during the morning.

$8.$ Cost of Goods Sold $($COGS$)$ for the Bowl Sold:

The raw material cost for the $1$ bowl sold is $10,000$ VND$,$ and the manufacturing overhead allocation per bowl is $2,000$ VND$.$ Therefore, the total COGS for the $1$ bowl sold is $12,000$ VND $(10,000$ VND raw material $+2,000$ VND overhead$)$

Requirements:

$1.$ Calculate the manufacturing overhead cost per bowl.

Determine the overhead cost allocated to each bowl based on the total manufactoring overhead incurred for the day$)$

$2.$ Journalize the above transactions and post them to T$-$accounts.

Use the following accounts:

o Capital Contribution

o Cash

o Raw Materials

o Work in Process $($WIP$)$

o Finished Goods $($FG$)$

o Cost of Goods Sold $($COGS$)$

o Manufacturing Overhead $($MOH$)$

o Sales Commission

o Advertisement Expense

o Revenue

o Income Summary

$3.$ What is the total manufacturing cost for the morning session?

$($Calculate the total cost, including raw materials and overhead for the $20$ bowls processed during the morning session$)$

$4.$ What is the unit product costs for the Pho?

$($Calculate the total cost per bowl by considering raw materials and overhead$)$

$5.$ What is the cost of goods sold for the morning?

$($Determine the COGS for the $1$ bowl sold, including raw materials and overhead.$)$

$6.$ What is the total value of the finished goods inventory at the end of the morning?

$($Calculate the value of the finished goods, if any, at the end of the morning session.$)$

$7.$ What is the total value of the work in process inventory at the end of the morning?

$($Calculate the value of the WIP inventory, reflecting the $19$ bowls still in progress.$)$

$8.$ Prepare an Income Statement for the morning session, including sales commission and advertisement costs.

$($Reflect the sales, cost of goods sold, and operating expenses such as sales commission and advertisement.$)$

$9.$ Prepare a Balance Sheet at the end of the morning session.

$($Show the ending balances for assets such as WIP, liabilities, and equity, including the owner's capital contribution.$)$