ACCOUNTING 232 ACTIVITY BASED COSTING I. Prepare journal entries 2. Prepare a trial balance 3. Prepare the T Accounts 4. Prepare cost of goods manufactured statemen s. Prepare cost of goods sold statement 6. Prepare income statement 7. Prepare 8. Prepare balance sheet 9. Prepare statement of cash flow 10. Prepare closing entries hours FACTOR COST PRINCIPLES ADVANCED Incorporated 1,000,000 2. Purchased 550,000 ink @ $5 3. Purchased 275,000 reams of paper @$2 4. Transferred 300,000 ink to work in process for the principles book S. Transferred 200,000 ink to work in process for advanced book. 6. Transferred 150,000 paper to work in process for principles bool. 7. Transferred 100,000 paper to work in process for advanced book 8. Labor hours for principles book was 300, 000 hours 9. Labor hours for advanced book was 200,000 hours. 10. Applied manufacturing overhead for principles book II. Applied manufacturing overhead for advanced book. 12. Completed 150,000 principles books. 13. Completed 50,000 advanced books. books for cash. 15. Sold 45.000 advanced books for cash. 16. Actual overhead 1,050,000 paid in cash 17, Selling expenses 8,000,000. ve expenses 2.000,000. 19. Make entry for over or under