I am needing help with the following items. Please advise.

5.

Rooney Manufacturing recorded the following amounts in its inventory accounts in Year 2. Required Complete the T-accounts by filling in the missing amounts. Assume that underapplied and overapplied overhead is closed to Cost of Goods Sold. Raw Materials Inventory Work in Process Inventory Debit Credit Debit Credit 31,700 8,800 8,500 16,300 13,000 Finished Goods Inventory Cost of Goods Sold Debit Credit Debit Credit 8,800 1,900 adjusting Manufacturing Overhead Debit Credit 13,000 2,700 adjusting 0Perez Corporation began fiscal Year 2 with the following balances in its inventory accounts. Raw Materials 5 54,463 work in Process 32,286 Finished Goods 27,663 During the accounting period, Perez purchased $238,800 of raw materials and issued $249,100 of materials to the production department. Direct iabor costs for the period amounted to $322,500, and manufacturing overhead of $47,700 was applied to Work in Process Inventory. Assume that there was no over- or underappiied overhead. Goods costing $611,100 to produce were completed and transferred to Finished Goods Inventory. Goods costing $600,800 were sold for $800,700 during the period. Selling and administrative expenses amounted to $70,700. Required at. Determine the ending balance of each ofthe three inventory accounts that would appear on the year-end balance sheet. b1. Prepare a schedule of cost of goods manufactured and sold. b2. Prepare an income statement. Req A Reg B1 Req B2 Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet. Ending Balance Raw materials Work in process Finished goodsPrepare a schedule of cost of goods manufactured and sold. Raw materials available Raw materials used Total manufacturing costs Total work in process inventory Cost of goods manufactured Goods available for sale Cost of goods sold Req A Req B1 Req B2 Prepare an income statement. PEREZ CORPORATION Income Statement For the year ended Year 2 LLLLLLMunoz Manufacturing Company was started on January 1, Year 1. The company was affected by the following events during its first year of operation. . Acquired $2,300 cash from the issue of common stock. . Paid $530 cash for direct raw materials. . Transferred $400 of direct raw materiais to work in process. . Paid production employees $610 cash. . Paid $380 cash for manufacturing overhead costs. . Applied $225 of manufacturing overhead costs to work in process. . Completed work on products that cost $1,010. . Sold products that cost $870 for $1,560 cash. . Paid $350 cash for selling and administrative expenses. . Made a $70 cash distribution to the owners. .Ciosed the Manufacturing Overhead account. gowmqmmhwng .5.\" Required a. Record these events in a horizontal statements model. The first event is shown as an example. b. Prepare a schedule of cost of goods manufactured and sold. Record these events in a horizontal statements model. The first event is shown as an example. Note: Enter decreases to account balances with a minus sign. Assets Stockholders' Equity rent Retained Net mber + Manufacturing Work in Finished Common + Raw + + + Revenue Expense Cash Process Goods Stock Earnings Income Overhead Materials 1. $ 2,300 + $ 2,300 + 2. 3. 4. 5. 6. 7. ga. 8b. 9. 10. 11. totalPrepare a schedule of cost of goods manufactured and sold. Raw materials available Raw materials used Total manufacturing costs :Zl Total work in process inventory :l:| Cost of goods manufactured ::| Cost of goods available for sale ::I Cost of goods sold