Materials Control Work-in-Process Control Finished Goods Control 100 60 500 Required 1. Prepare an overview diagram...

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Materials Control Work-in-Process Control Finished Goods Control 100 60 500 Required 1. Prepare an overview diagram of the job-costing system at the University of Chicago Press. 2. Prepare journal entries to summarize the 2011 transactions. As your final entry, dispose of the year-end under- or overallocated manufacturing overhead as a write-off to Cost of Goods Sold. Number your entries. Explanations for each entry may be omitted. 3. Show posted T-accounts for all inventories, Cost of Goods Sold, Manufacturing Overhead Control, and Manufacturing Overhead Allocated. Materials Control Work-in-Process Control Finished Goods Control 100 60 500 Required 1. Prepare an overview diagram of the job-costing system at the University of Chicago Press. 2. Prepare journal entries to summarize the 2011 transactions. As your final entry, dispose of the year-end under- or overallocated manufacturing overhead as a write-off to Cost of Goods Sold. Number your entries. Explanations for each entry may be omitted. 3. Show posted T-accounts for all inventories, Cost of Goods Sold, Manufacturing Overhead Control, and Manufacturing Overhead Allocated.

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