ReqA

Req B$1$

Req B$2$

Req B$3$

Prepare T$-$accounts and record the events affecting Jordan Manufacturing. Include closing entries.

$\backslash$table$[[$Common Stock,,$],[,$Debit,,$],[,,,],[,,,],[$Ending Balance,,,$]]$

$\backslash$table$[[$Manufacturing Overhead,$],[$Debit$,,],[,,,],[,,,],[$Ending Balance,,,$]]$

$\backslash$table$[[$Finished Goods,$],[$Debit$,,],[,,,],[,,,],[$Ending Balance,,,$]]$Jordan Manufacturing Company was started on January $1,$ Year $1,$ when it acquired $$2,800$ cash from the issue of common stock. During the first year of operation, $$1,600$ of direct raw materials was purchased with cash, and $$1,000$ of the materials was used to make products. Direct labor costs of $$1,800$ were paid in cash. Jordan applied $$720$ of overhead cost to the Work in Process account. Cash payments of $$720$ were were made for actual overhead costs. The company completed products that cost $$2,400$ and sold goods that had cost $$1,840$ for $$2,800$ cash. Selling and administrative expenses of $$560$ were paid in cash.

Required

a$.$ Prepare T$-$accounts and record the events affecting Jordan Manufacturing. Include closing entries.

b$1.$ Prepare a schedule of cost of goods manufactured and sold.

b$2.$ Prepare an income statement.

b$3.$ Prepare a balance sheet.

Please include any formulas that might be necessary to achieve all four of the parts of the question.