Schoff Corporation has provided the following data for the most recent month: 
Required:
Prepare T-accounts for Raw Materials, Work in Process, Finished Goods, Manufacturing Overhead, and Cost of Goods Sold. Record the beginning balances and each of the transactions listed above. Finally, determine the ending balances.
Definitions:
Dividends
Payments made by a corporation to its shareholders, usually derived from profits.
Two-Tier Board
A corporate board structure consisting of two separate boards: the supervisory board and the management board, each with distinct responsibilities.
Corporate Veil
A legal concept that separates the personal liability of company owners, shareholders, and officers from that of the corporation itself.
Commingled
Mixed together without any clear separation, especially referring to funds or assets.
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