Question: please help me solve this problem bighimcent Chips, Incorporated july boquire manufactures a oilp that enables users to access the Intemet through cell phones. unts

please help me solve this problem

please help me solve this problem bighimcent
bighimcent Chips, Incorporated july boquire manufactures a oilp that enables users to access the Intemet through cell phones. unts of the subsidiary. Balance Shoot as of January 1, Year 2 Assets materials inventory work in process Imuntory Finished goods inventory Total Assets # 217, 680 Stockholders' Equity Comon stock detained sarnings Total Stockholders" Equity $217 , GAME The subsidiary completed the following transactions during Year 2 1. Paid $60,000 cash for direct raw materials. 2. Transferred $50,000 of direct raw materials to work In process. 3. Paid production employees $20,000 cash. 4. Applied $53,000 of manufacturing overhead costs to work In process. 5. Completed work on products that cost $163,000. 6. Sold products that cost $143,000 for $182,000 cash. Record the recognition of revenue In a row labeled 6s and the cast of goods sold In a row labeled 6b. 7. Paid $20,000 cash for selling and administrative expenses 8. Actual overhead costs pold In cash smounted to $55,000. 9. Closed the Manufacturing Overhead account The amount of over- or underapplied overhead wes Insignificant (Immaterial). 0. Made s $5.000 cash distribution to the owners. Required 9. For Anywhere Incorporated, record the events In a financial statements model. The beginning balances are shown as an example. b. Prepare a schedule of cost of goods manufactured and sole. c-1. Prepare an Income statement. c-2. Prepare a balance sheet. Complete this question by entering your answers in the tabs below. Rigg C2 For Anywhere Incorporated, record the events in a financial statements model. The beginning balances are shown as an example. Note: Enter decreases to account balances with a minus sign. Balance Shout Income Statement Event Accats Btookholders' Equity Number Cash + Manufacturing + Work In Finished Common Retained Revenue Expanse =| Net Income Overhead Materials ProouGE GoodG LabllitaG Etook Eamings Beginning balanona $ 200,000 + 4,000 + $ 6,000 + $ 7,000 $ 129,000 + $ 85,000 2. 1 11 11 18 14 14 14 11 11 14 14 14 11 + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Total $ 200,000 + 4003+ 6,000 + $ 7,000 = 0 + $ 1 129,000 + 86,000

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