a. Materials 200,000.

00 Cash
Accounts Payable 200,000.00 120,000.00
405,000.00
b. Payroll 210,000.00 525,000.00
Accrued Payroll 210,000.00 200,000.00

WIP 140,000.00 Finished Goods

Factory Overhead 30,000.00 35,000.00
Selling and Administrative expense 40,000.00 410,000.00
Payroll 210,000.00 445,000.00
60,000.00
c. Accrued Payroll 175,000.00
Cash 175,000.00 Materials
50,000.00
d. WIP 185,000.00 200,000.00
Factory Overhead Control 35,000.00 250,000.00
Materials 220,000.00 30,000.00

e. WIP 112,000.00 Accrued Payroll

Factory Overhead Applied 112,000.00 175,000.00

f. Finished Goods 410,000.00 175,000.00

WIP 410,000.00

g. Accounts Receivable 539,000.00 Retained Earning

Sales 539,000.00

Cost of Goods Sold 385,000.00

Finished Goods 385,000.00 Factory Overhead Control
30,000.00
h. Cash 405,000.00 35,000.00
Accounts Receivable 405,000.00 65,000.00
65,000.00
i. Accounts Payable 150,000.00
Cash 150,000.00 Factory Overhead Applied
-
 Cash Accounts Receivable Diane Company Diane Company
175,000.00 40000 405,000 Trial Balance Statement of Comprehensive Income
150,000.00 539,000 For the month ending January 31, 2021 For the month ending January 31, 202
325,000.00 579000 405,000
174,000 Debit Credit Sales
Cash 200,000.00 Less: Cost of Goods Sold
shed Goods WIP Accounts Receivable 174,000.00 Gross Profit
385,000.00 18,000.00 410,000.00 Finished Goods 60,000.00 Less: Selling and Administrative Expense
140,000.00 WIP 45,000.00 Net Income
385,000.00 185,000.00 Materials 30,000.00
112,000.00 Accounts Payable 60,000.00
455,000.00 410,000.00 Accrued Payroll 43,000.00
Materials 45,000.00 Common Stock 200,000.00
220,000.00 Retained Earnings 45,000.00
Accounts Payable Factory Overhead Control 65,000.00
220,000.00 150,000.00 10,000.00 Selling and Administrative Expense 40,000.00
200,000.00 Factory Overhead Applied 112,000.00 Actual FOH
150,000.00 210,000.00 Sales 539,000.00 Budgeted FOH
rued Payroll 60,000.00 Cost of Goods Sold 385,000.00 Overapplied FOH
8,000.00 999,000.00 999,000.00
210,000.00 Common stock
218,000.00 200,000.00
43,000.00 200,000.00

ined Earning Payroll

45,000.00 210,000.00 210,000.00
45,000.00 -

Overhead Control Selling and Administrative Expense

- 40,000.00
40,000.00
-
Sales
 539,000.00
Overhead Applied - 539,000.00
112,000.00
112,000.00 Cost of Goods Sold
385,000.00
385,000.00
ompany Diane Company Diane Company
prehensive Income Statement of Cost of Goods Sold and Manufactured Statement of Financial Position
ng January 31, 2021 For the month ending January 31, 2021 As of January 31, 2021

539,000.00 Direct Materials Used: Asset

338,000.00 Materials Beg 50,000.00 Cash 200,000.00
201,000.00 Add: Purchases 200,000.00 Accounts Receivable 174,000.00
40,000.00 Less: Ending Materials 30,000.00 Finished Goods 60,000.00
161,000.00 Total Materials Used 220,000.00 WIP 45,000.00
Less: Indirect Materials 35,000.00 Materials 30,000.00
Total Direct Materials Used 185,000.00 Total Assets 509,000.00
Direct Labor 140,000.00
Factory Overhead 112,000.00 Liabilities and Shareholders Equity
Total Manufacturing Cost 437,000.00 Accounts Payable 60,000.00
Add: Beg WIP 18,000.00 Accrued Payroll 43,000.00
Total Cost of Goods Place in Process 455,000.00 Total Liabilities 103000
65,000.00 Less: Ending WIP 45,000.00
112,000.00 Total Cost of Goods Manufactured 410,000.00 Total Shareholder's Equity
(47,000.00) Add: Beg. Finished Goods 35,000.00 Common Stock 200,000.00
Total Goods available for sale 445,000.00 Retained Earnings 45,000.00
Less: Ending Finished Goods 60,000.00 Net Income 161,000.00 406000
Total Cost of Goods Sold 385,000.00 509000
Overapplied (47,000.00)
Toatal Cost of Goods Sold 338,000.00