In addition to the information in the problem 17.2 ( i have attached question and answer of problem 17.2):

a. Make up dates for all journal entries

b. Prepare a statement of cost of goods manufactured for the month using following inventory information:

1. Beginning Direct Materials, $45,000

2. Beginning Work in Process, $65,000

3. Beginning Finished Goods, $80,000

c. Prepare an income statement for the month to gross profit.

3. Check figures:

a. Total manufacturing costs, $302,970

b. Cost of goods manufactured, $175,090

c. Ending Work in Process, $192,880

d. Gross Profit, $46,490

This is problem 17.2: For the first month operation, HIL Company recorded the following transactions for the month of April:

a. Materials purchased on account, $147,000

b. Materials requisitioned and factory labor used:

c. Factory overhead costs incurred on account, $6,000

d. Depreciation of machinery and equipment, $4,100

e. The factory overhead rate is $40 machine hour. Machine hour used is as per table above.

f. Job completed: 101,102,103 and 105

g. Jobs were shipped and customers were billed as follows: Job 101, $62,900; Job 102, $80,700; Job 103, $45,500

Below is the answer to problem 17.2

Solution: For the first month operation, HIL Company recorded the following transactions for the month of April:

a. Materials purchased on account, $147,000

b. Materials requisitioned and factory labor used

C. overhead costs incurred on account, $6,000

d. Depreciation of machinery and equipment, $4,100

e. The factory overhead rate is $40 machine hour. Machine hour used is as per table above.

f. Job completed: 101,102,103 and 105

g. Jobs were shipped and customers were billed as follows: Job 101, $62,900; Job 102, $80,700; Job 103, $45,500

The answera to thewe questions are

Factory overhead Factory Machine Materials Labor JobMat (s)hours applied (at $40/hr) 101 10223,10028,140 1606,400 103 104 10518,050 1 10618,00018,7001 For general 19,32019,5001546,160 160 6,400 126 5,040 13,440 14,000 1265,040 38,20036,500 2389,520 5,540 160 6,400 174 6,960 9,00020,160 ? use Total139,110 152,540 1,012 40,480