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.
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.

Question

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.
  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.

Quizplus · Accepted Answer

The Answer of 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.
  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.

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