Question: Use this information to help me create t charts using excel formulas Cherry Cotta makes custom ordered clay pots for residential gardens. Below is cost

Use this information to help me create t charts using excel formulas

Cherry Cotta makes custom ordered clay pots for residential gardens. Below is cost information regarding its latest job.
a. Materials were purchased on account.$18,996
b. A materials requisition form shows an amount of materials required for this job, 10% of which were used for general use.$12,45010%
c. A labor time sheet shows the following. Assume the Maintenance and Supervisor amounts relate directly to this job.
Job 345
EmployeeRoleHoursRateTotal
T. WalkerCrafting23$12.50$287.50
M. FosterFiring18$13.75$247.50
C. WatsonMaintenance6$11.00$66.00
K. WillisSupervisor10$23.00$230.00
$831.00
d. The additional list below shows costs incurred.
Factory Utilities$395
Advertising Expense$625
Administrative Duties$348
Factory Depreciation$487

e. At the beginning of the year, overhead costs and workload was estimated. Direct Labor hours drives the cost of overhead.
Estimated Overhead Cost$90,000
Estimated Direct Labor Hours1,500
f. By month's end, all previous jobs were completed, but only 80% of the pots started this month were completed.80%
g. 90% of the previous batch of pots were sold, while 70% of the pots completed this month were sold.$22,000Total Sales90%70%
Required:
1. Complete the T-Accounts below.
Raw MaterialsWork In ProcessFinished Goods
DebitCreditDebitCreditDebitCredit
4,68512,4505,6281,260
18,99611,20522,000
11,23183120,740
Cost of Goods Sold17,664Sales Revenue
DebitCreditDebitCredit
15,400Salaries/Wages Payable22,000
15,400DebitCredit22,000
831
Period Cost831
DebitCredit
Manufacturing Overhead
DebitCredit
646
646
Note: When calculating amounts below, use the total in the T-Accounts.
2. Determine the Cost of Goods Manufactured.
Cost of Goods Manufactured$12,036
3. Create a journal entry to dispose of the Over/Underapplied Overhead.
DateAccountDebitCredit
3/31/2022Manufacturing Overhead646
Cost of Goods Sold646
4. Determine the Cost of Goods Sold after disposing of the Over/Underapplied Overhead.
Cost of Goods Sold$14,754
5. Determine the Gross Profit for the month.
Gross Profit$7,246

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