Please Solve with Explanation And Do not Give Solution in image Format Otherwise give Down Vote ? Tiehen Corporation uses a job-order costing system to assign manufacturing costs to jobs. At the end of the month it closes out anyoverapplied or underapplied manufacturing overhead to Cost of Goods Sold. Its balance sheet on April 1 appears below:Assets:CashRaw materialsWork in processFinished goodsProperty, plant, and equipment (net)Total assetsLiabilities and Stockholders' Equity:Accounts payableRetained earningsTotal liabilities and stockholders' equityTiehen CorporationBalance SheetApril 1Summaries of the transactions completed during April appear below:(1) Raw materials purchased on account$ 66,600(2) Raw materials used in production (direct materials) $ 50,600(3) Raw materials used in production (indirect materials) $ 7,300(4) Direct labor paid in cash(5) Indirect labor paid in cash(6) Selling and administrative salaries paid in cash(7) Factory utility costs (on account)(8) Depreciation on PP&E-manufacturing equipment(9) Depreciation on PP&E-selling and administration(10) Advertising expenses paid in cash(11) Manufacturing overhead applied to production(12) Cost of goods manufactured(13) Cash sales.(14) Cost of goods sold(15) Cash payments to creditors(16) Overapplied (underapplied) overheadTransactions$ 95,600$ 25,600Beginning balances, April 1(1) Raw materials purchased on account(2) Raw materials used in production (direct materials)$ 30,600$ 12,600$ 10,600$2,300$ 15,600$ 58,800$196,600$281,000$205,600$ 81,600?$4,60015,60019,600Cash$ 10,600Required:Complete the spreadsheet below. (Negative or Deductible amounts should be entered with a minus sign.)39,800229,600$280,000$ 15,300264,700$280,000Raw Work in Finished Manufacturing PP&EMaterials Process Goods Overhead (net)Accounts RetainedPayable Earnings Required:Complete the spreadsheet below. (Negative or Deductible amounts should be entered with a minus sign.)TransactionsBeginning balances, April 1(1) Raw materials purchased on account(2) Raw materials used in production (direct materials)(3) Raw materials used in production (indirect materials)(4) Direct labor paid in cash(5) Indirect labor paid in cash(6) Selling and administrative salaries paid in cash(7) Factory utility costs (on account)(8) Depreciation on PP&E--manufacturing equipment(9) Depreciation on PP&E--selling and administration(10) Advertising expenses paid in cash(11) Manufacturing overhead applied to production(12) Cost of goods manufactured(13) Cash sales(14) Cost of goods sold(15) Cash payments to creditors(16) Overapplied (underapplied) overheadEnding balances at April 30Cash0Raw Work in Finished Manufacturing PP&EMaterials Process Goods Overhead(net)0000===Accounts RetainedPayable Earnings0

Name: Please Solve with Explanation And Do not Give Solution in image Format
Uploaded: 2024-03-20T06:32:49.000Z
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Description: Please Solve with Explanation And Do not Give Solution in image Format Otherwise give Down Vote ? Tiehen Corporation uses a job-order costing system to assign manufacturing costs to jobs. At the end of the month it closes out anyoverapplied or undera