Angeloni 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 Schedule of Cost of Goods Sold for the company for July.
c.Prepare an Income Statement for the company for July.

Question

Angeloni 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 Schedule of Cost of Goods Sold for the company for July.
c.Prepare an Income Statement for the company for July.

Quizplus · Accepted Answer

The Answer of Angeloni 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 Schedule of Cost of Goods Sold for the company for July.
c.Prepare an Income Statement for the company for July.

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