Plocek Corporation Uses a Job-Order Costing System to Assign Manufacturing

question 3

Essay

Plocek Corporation uses a job-order costing system to assign manufacturing costs to jobs.At the end of the month it closes out any overapplied or underapplied manufacturing overhead to Cost of Goods Sold.Its balance sheet on July 1 appears below:
Summaries of the transactions completed during July appear below:
Required:
a.Completely fill in the spreadsheet below.Because the page is too narrow to accommodate all of the columns,the spreadsheet has been divided into two parts that should be side by side.
b.Prepare a Balance Sheet for the company for July 31.
c.Prepare a Schedule of Cost of Goods Manufactured for the company for July.
d.Prepare a Schedule of Cost of Goods Sold for the company for July.
e.Prepare an Income Statement for the company for July.

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Definitions:

Controlling

The process of monitoring performance, comparing it with goals, and taking corrective action as needed.

Planned

Refers to activities or actions that have been thoughtfully considered and organized in advance.

Accomplished

Having successfully completed or achieved a goal or objective; skilled and capable.

Received

Pertains to goods, services, or payments that have been accepted or taken in by an individual or organization.