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(Job Ording Costing) How to solve/compute to answer the requirements needed? Problem 6...

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(Job Ording Costing) How to solve/compute to answer the requirements needed?

Problem 6 The following account balances were taken from the general ledger accounts of the Ellery Corporation January 1 December 31 Materials 60,000 80,000 Work in Process 85,000 110,000 Finished Goods 120,000 90,000 Factory Overhead Control 330,000 Applied Factory Overhead (applied at a rate of 80% of DL 320,000 Cost of Goods Sold 850,000 Requirements: 1. Journal entries to record the transactions that were entered in the above accounts for the year 2019. 2. Cost of Goods Sold Statement for the year 2019. 3. Entry to close the Factory Overhead Control account and Applied Factory Overhead to Cost of Goods Sold

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