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Star Videos, Inc., produces short musical videos for sale to retail outlets. The companys balance sheet accounts as of Januaa. Film, costumes, and similar raw materials purchased on account, $195,500. b. Film, costumes, and other raw materials issuen. Payments to suppliers on account during the year, $556,000. o. Underapplied or overapplied overhead $?. Required: 1. Prepa

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Solution: Part 1 Balance Sheet Income Statement Assets Liability and Equity videos in Process Manufacturin + Finished Goods +Part 2 17,200 195,500 212,700 3,200 31,425 Schedule of Cost of Goods Manufactured For Year Ended December, 31 raw material atwokring for part 1: Video In process МОН 209500*0.85 209500*0.15 178075 31425 d Video In process Expense 106000*3/4 106000*1/

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