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Use the information in problems 1 - 2 to complete the T-accounts. 1 Sell 75,000 shares of $8 par value per share; the selling price is $5 per share Record the si le of stock on the T-Acciiunt worksheet Record the followini Beginning Balances on the T-Account workshet 2 a Work in Progress B 55,000 2 b Raw Materials 15,000 2 C Finished Goc is 25,000 2 d Work in Progress A 20,000 2 e Work in Progress C 30,000 Use the chart below to calculate #4-6 and record entries into the chirt for #7-15 3 a Number of Un ts produced 3 b Number of Un ts Sold 3 c Selling Price per Unit 3 d Direct Labor Cists 3 e Estimated DLH s to be worked 3 f Raw Material Ised in Production 3 & Indirect Labor Costs 3 h S&A Salaries 3 i Actual DLHs wurked 3 i FMOH Costs 3 k Manufacturing job costs completed during the year 3 | Direct Materia Purchases 3 m Operating Expenses 3 n Actual Job cos's for units sold 60,000 20,000 30 100,000 15,000 125,000 40,000 15,000 20,000 87,500 240,000 250,000 65,000 15 4 Calculate Sales 5 Calculate POHR 6 Calculate MOH applied = WIPA WIPB WIPC DM DL SAA IDL MOH 30% 40 SON 100% 40.000 35 000 7 Recod Raw Material purchases 8 RM used in production 9 Recod Salary Expenses 10 Allocite salaries salaries to WIP and MOH 11 Rece d Operating Expenses 12 Recod Fixed Manufacturing. Merhead Costs 13 Apply Estimated MOH to pro luction 14 Production is complete, transfer WIP to FG according to complete 15 Recod Job Costs 60,000 GON BSN 40% 16 Calculate actual job costs for inits sold 17 is CC S understated or overstated? 18 Make the correction to COGS 19 Reconcile all accounts and make sure your accouting Aquation is in balancellll 20 Calculate Inventory RECORD YOUR ENTRIES FROM PROBLEMS -15 IN THE T-ACCOUNTS PROVIDED BELOW: ASSETS LIABILITIES OWNERS EQUITY PROFIT LOSS

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