Required: Complete the spreadsheet below. (Negative or Deductible amounts should be entered with a minus sign.) Transactions Beginning balances, January 1 (1) Raw materials purchased for cash (2) Raw materials used in production (direct materials) (3) Raw materials used in production (indirect materials) (4) Direct labor paid in cash (5) Indirect labor paid in cash (6) Selling and administrative salaries paid in cash (7) Factory utility costs paid in cash (8) Depreciation on PP&E-manufacturing equipment (9) Depreciation on PP&E-selling and administration (10) Advertising expenses paid in cash (11) Manufacturing overhead applied to production (12) Cost of goods manufactured (13) Cash sales (14) Cost of goods sold (15) Overapplied (underapplied) overhead Ending balances at January 31 Cash Raw Materials Work in Finished Manufacturing PP&E Process Overhead (net) Goods Retained Earnings
Required: Complete the spreadsheet below. (Negative or Deductible amounts should be entered with a minus sign.) Transactions Beginning balances, January 1 (1) Raw materials purchased for cash (2) Raw materials used in production (direct materials) (3) Raw materials used in production (indirect materials) (4) Direct labor paid in cash (5) Indirect labor paid in cash (6) Selling and administrative salaries paid in cash (7) Factory utility costs paid in cash (8) Depreciation on PP&E-manufacturing equipment (9) Depreciation on PP&E-selling and administration (10) Advertising expenses paid in cash (11) Manufacturing overhead applied to production (12) Cost of goods manufactured (13) Cash sales (14) Cost of goods sold (15) Overapplied (underapplied) overhead Ending balances at January 31 Cash Raw Materials Work in Finished Manufacturing PP&E Process Overhead (net) Goods Retained Earnings
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter2: Job Order Costing
Section: Chapter Questions
Problem 1PA: Barnes Company uses a job order cost system. The following data summarize the operations related to...
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