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The entire question is attached in a word document to this post. I am struggling with letter H. I cannot get my WIP and Finished Goods inventory transferred properly.
Christopher’s Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2013 follow:
Christopher’s Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2013 follow:
Christopher’s Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2013 follow:
Christopher’s Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2013 follow:
Christopher’s Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2013 follow:

        Raw materials inventory $ 20,000     Work in process inventory   15,000     Finished goods inventory   32,000  
        Raw materials inventory $ 20,000     Work in process inventory   15,000     Finished goods inventory   32,000  
     
 
 
 
  Raw materials inventory $ 20,000  
  Raw materials inventory
$
20,000  
  Work in process inventory   15,000  
  Work in process inventory
 
15,000  
  Finished goods inventory   32,000  
  Finished goods inventory
 
32,000  

The following transactions occurred during January:
The following transactions occurred during January:
The following transactions occurred during January:
The following transactions occurred during January:
(a) Purchased materials on account for $26,000. (b) Issued materials to production totaling $40,000, 80 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials. (c) Payroll costs totaling $69,700 were recorded as follows:       $18,000 for assembly workers          5,200 for factory supervision        31,000 for administrative personnel       15,500 for sales commissions (d) Recorded depreciation: $8,500 for machines, $2,400 for the copier used in the administrative office. (e) Recorded $4,000 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense. (f) Paid $7,800 in other factory costs in cash. (g) Applied manufacturing overhead at a rate of 300 percent of direct labor cost. (h) Completed all jobs but one; the job cost sheet for this job shows $10,000 for direct materials, $3,000 for direct labor, and $9,000 for applied overhead. (i) Sold jobs costing $70,000. The revenue earned on these jobs was $91,000.
(a) Purchased materials on account for $26,000. (b) Issued materials to production totaling $40,000, 80 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials. (c) Payroll costs totaling $69,700 were recorded as follows:       $18,000 for assembly workers          5,200 for factory supervision        31,000 for administrative personnel       15,500 for sales commissions (d) Recorded depreciation: $8,500 for machines, $2,400 for the copier used in the administrative office. (e) Recorded $4,000 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense. (f) Paid $7,800 in other factory costs in cash. (g) Applied manufacturing overhead at a rate of 300 percent of direct labor cost. (h) Completed all jobs but one; the job cost sheet for this job shows $10,000 for direct materials, $3,000 for direct labor, and $9,000 for applied overhead. (i) Sold jobs costing $70,000. The revenue earned on these jobs was $91,000.
(a) Purchased materials on account for $26,000.
(a)
Purchased materials on account for $26,000.
(b) Issued materials to production totaling $40,000, 80 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials.
(b)
Issued materials to production totaling $40,000, 80 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials.
Issued materials to production totaling $40,000, 80 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials.
(c) Payroll costs totaling $69,700 were recorded as follows:
(c)
Payroll costs totaling $69,700 were recorded as follows:
      $18,000 for assembly workers
 
    $18,000 for assembly workers
         5,200 for factory supervision
 
       5,200 for factory supervision
       31,000 for administrative personnel
 
     31,000 for administrative personnel
      15,500 for sales commissions
 
    15,500 for sales commissions
(d) Recorded depreciation: $8,500 for machines, $2,400 for the copier used in the administrative office.
(d)
Recorded depreciation: $8,500 for machines, $2,400 for the copier used in the administrative office.
(e) Recorded $4,000 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense.
(e)
Recorded $4,000 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense.
Recorded $4,000 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense.
(f) Paid $7,800 in other factory costs in cash.
(f)
Paid $7,800 in other factory costs in cash.
(g) Applied manufacturing overhead at a rate of 300 percent of direct labor cost.
(g)
Applied manufacturing overhead at a rate of 300 percent of direct labor cost.
(h) Completed all jobs but one; the job cost sheet for this job shows $10,000 for direct materials, $3,000 for direct labor, and $9,000 for applied overhead.
(h)
Completed all jobs but one; the job cost sheet for this job shows $10,000 for direct materials, $3,000 for direct labor, and $9,000 for applied overhead.
Completed all jobs but one; the job cost sheet for this job shows $10,000 for direct materials, $3,000 for direct labor, and $9,000 for applied overhead.
(i) Sold jobs costing $70,000. The revenue earned on these jobs was $91,000.
(i)
Sold jobs costing $70,000. The revenue earned on these jobs was $91,000.
Sold jobs costing $70,000. The revenue earned on these jobs was $91,000.

Required: 1. Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts:
Required: 1. Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts:
Required:
Required:
1. Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts:
1.
Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts:
Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts:

a. Raw Materials Inventory. b. Work in Process Inventory. c. Finished Goods Inventory. d. Cost of Goods Sold. e. Manufacturing Overhead. f. Selling, General, and Administrative Expenses. g. Sales Revenue. h. Other accounts (Cash, Payables, etc.).
a. Raw Materials Inventory. b. Work in Process Inventory. c. Finished Goods Inventory. d. Cost of Goods Sold. e. Manufacturing Overhead. f. Selling, General, and Administrative Expenses. g. Sales Revenue. h. Other accounts (Cash, Payables, etc.).
a. Raw Materials Inventory.
a.
Raw Materials Inventory.
b. Work in Process Inventory.
b.
Work in Process Inventory.
c. Finished Goods Inventory.
c.
Finished Goods Inventory.
d. Cost of Goods Sold.
d.
Cost of Goods Sold.
e. Manufacturing Overhead.
e.
Manufacturing Overhead.
f. Selling, General, and Administrative Expenses.
f.
Selling, General, and Administrative Expenses.
g. Sales Revenue.
g.
Sales Revenue.
h. Other accounts (Cash, Payables, etc.).
h.
Other accounts (Cash, Payables, etc.).
Other accounts (Cash, Payables, etc.).

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