Fort Corporation had the following transactions during its first month of operations: 1. Purchased raw materials on account, $85,000. 2. Raw Materials of $30,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,000 was classified as indirect materials. 3. Factory labor costs incurred were $175,000 of which $145,000 pertained to factory wages payable and $30,000 pertained to employer payroll taxes payable. 4. Time tickets indicated that $145,000 was direct labor and $30,000 was indirect labor. 5. Overhead costs incurred on account were $198,000. 6. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 7. Goods costing $115,000 are still incomplete at the end of the month; the other goods were completed and transferred to finished goods. 8. Finished goods costing $100,000 to manufacture were sold on account for $130,000.

Follows are the solution to this question:

Explanation:

Services             Names and descriptions of the accounts           Dr.            Cr.

1                                  Stock of raw resources                            85000

                                    Cash-able Accounts                                             85000

2                         Stock of processes (30000-6000)                  24000

                                 Overhead of development                        6000

                                  Stock of raw materials                                          30000

3                              employment manufacturer                       175000

                               manufacturing plant wages                                    145000

                                      Payroll Taxes                                                      30000

4                               Inventory job in process                         145000

                                  Overhead production                             30000

                                          Labor Plant                                                    175000

5                                  Overhead production                          198000

                                     Cash-able Accounts                                          198000

6                           Inventory of jobs in the process              217500

                               Overhead of development                                     217500

7                               Inventory of finished products             271500

                                  Inventory job in process                                      271500

8                                      receivable Account                            130000

                                                  Sales                                                       130000

                                     Wars sold at discount                         100000

                               Inventory of finished products                              100000

net worth is the difference between what you own and what you have. if you exceed your liabilities you have a positive net worth. if your liabilities are greater than your assets you have a negative net worth. its a snapshot of your financial situation. if you calculate your net worth you will see the end result of everything you've earned and spent as of now. net worth statements and all you asked of can you determine where you are, how to get where you want to be, if your spending   to much. honestly it can tell you a lot of things. i can go on, but you can paint the picture from here.

explanation: