" Wrap Text Calibri ta Copy Format Painter IB 1 2. A. ,, li i jMerge & Cent Font Alignment Clipboard FG-Inv: 1,000 units@$200 each A5 3 Beginning Balances: 4 Cash $400,000 200,000 800,000 200,000 50,000 600,000 200,000 5 FG-Inv: 1,000 units @$200 each 6 Equipment 7 Accumulated Depr 8 Accounts Payable 9 Notes Payable 10 Common Stock 11 Retained Earnings 12 13 Assumptions: 14 Ink 15 Paper 16 Labor Rate 17 Labor Productivity 1@20 1@10 $15 per hr 5 per. hour NSheetl dit k Cut to Copy JFormat Painter a l u.llt. . Clipboard Calibri Ge aste :a- || Merge & Center-Is Font Alignment H11 17 Labor Productivity 18 Manufacturing Overhead 19 Production Quantity 20 Selling Price Multiple 21 22 Journal Entries 23 1. Additional Common Stk 24 2. Paid on Note Payable 5 per. hour $500,000 100,000 $200,000 $50,000 110,000 120,000 100,000 unit 100,000 unit 25 3.Purchased Ink 26 4. Purchased Paper 27 5. Transferred Ink to WIP 28 6. Transferred Paper to WIP 29 7. Actual Labor Hours 30 8. Appied Manufacturing Overhead 31 9, Units completed with 80% Raw 21,000. hrs 21,000. hrs 80,000 NSheet1 Enter Acc 232 1-M Home Insert Page Layout Formulas Data Review View Cut a copy V Clipboard Calibri a-a-Merge & Center . aste (Blu. Format Painter Font Alignment H11 31 9. Units completed with 80% Raw 32 Materials and 100% of Labor and 33 Overhead transferred to FG 34 10. Cash Sales, FIFO Inventory Costing 35 11. Actual. MOH 80,000 70,000 36 Depr 37 Other $300,000 $210,000 38 39 10. Record over or under applied MOH 40 11. Selling Expenses 41 12. Administrative Expenses 42 13. Dividends 43 30% of sales $2,000,000o $200,000 45 Requires: Sheeti Enter Clipboard Font Alignment H11 13 45 Requires: 46 1. Post initial account balances to ledger 47 2. Calculate Unit Cost, SP & POIR 48 3. Record 13 journal entries 49 4. Post to ledger 50 5. Prepare trial balance 51 6. Prepare COGM Schedule 52 7. Prepare COGS Statement 53 8. Income Statement 54 9, Statement of RE 55 10. Balance Sheet 56 11. Statement of Cash Flovw 57 12. Closing Entries Enter " Wrap Text Calibri ta Copy Format Painter IB 1 2. A. ,, li i jMerge & Cent Font Alignment Clipboard FG-Inv: 1,000 units@$200 each A5 3 Beginning Balances: 4 Cash $400,000 200,000 800,000 200,000 50,000 600,000 200,000 5 FG-Inv: 1,000 units @$200 each 6 Equipment 7 Accumulated Depr 8 Accounts Payable 9 Notes Payable 10 Common Stock 11 Retained Earnings 12 13 Assumptions: 14 Ink 15 Paper 16 Labor Rate 17 Labor Productivity 1@20 1@10 $15 per hr 5 per. hour NSheetl dit k Cut to Copy JFormat Painter a l u.llt. . Clipboard Calibri Ge aste :a- || Merge & Center-Is Font Alignment H11 17 Labor Productivity 18 Manufacturing Overhead 19 Production Quantity 20 Selling Price Multiple 21 22 Journal Entries 23 1. Additional Common Stk 24 2. Paid on Note Payable 5 per. hour $500,000 100,000 $200,000 $50,000 110,000 120,000 100,000 unit 100,000 unit 25 3.Purchased Ink 26 4. Purchased Paper 27 5. Transferred Ink to WIP 28 6. Transferred Paper to WIP 29 7. Actual Labor Hours 30 8. Appied Manufacturing Overhead 31 9, Units completed with 80% Raw 21,000. hrs 21,000. hrs 80,000 NSheet1 Enter Acc 232 1-M Home Insert Page Layout Formulas Data Review View Cut a copy V Clipboard Calibri a-a-Merge & Center . aste (Blu. Format Painter Font Alignment H11 31 9. Units completed with 80% Raw 32 Materials and 100% of Labor and 33 Overhead transferred to FG 34 10. Cash Sales, FIFO Inventory Costing 35 11. Actual. MOH 80,000 70,000 36 Depr 37 Other $300,000 $210,000 38 39 10. Record over or under applied MOH 40 11. Selling Expenses 41 12. Administrative Expenses 42 13. Dividends 43 30% of sales $2,000,000o $200,000 45 Requires: Sheeti Enter Clipboard Font Alignment H11 13 45 Requires: 46 1. Post initial account balances to ledger 47 2. Calculate Unit Cost, SP & POIR 48 3. Record 13 journal entries 49 4. Post to ledger 50 5. Prepare trial balance 51 6. Prepare COGM Schedule 52 7. Prepare COGS Statement 53 8. Income Statement 54 9, Statement of RE 55 10. Balance Sheet 56 11. Statement of Cash Flovw 57 12. Closing Entries Enter