1. Answer the following questions by analysing the T-accounts given below Materials Inventory Work in Process Inventory Beg. balance $ 18,000 360,000 Ending balance $ 14,000 Beg. balance $ 20,000 +? 230,000 400,000 Ending balance $ 25,000 Direct Labor Finished Goods Inventory $230,000- Ending balance $ 5,000 $ 98,000 $225,000 Beg. balance Ending balance $110,000 Manufacturing Overhead Cost of Goods Sold $400,000 $400,000 -? d) Direct labor costs assigned to production e) The overhead as a percentage of direct labor costs f) Total manufacturing costs charged to the Work in Process Inventory account during the current year
1. Answer the following questions by analysing the T-accounts given below Materials Inventory Work in Process Inventory Beg. balance $ 18,000 360,000 Ending balance $ 14,000 Beg. balance $ 20,000 +? 230,000 400,000 Ending balance $ 25,000 Direct Labor Finished Goods Inventory $230,000- Ending balance $ 5,000 $ 98,000 $225,000 Beg. balance Ending balance $110,000 Manufacturing Overhead Cost of Goods Sold $400,000 $400,000 -? d) Direct labor costs assigned to production e) The overhead as a percentage of direct labor costs f) Total manufacturing costs charged to the Work in Process Inventory account during the current year
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Answer the following questions by analysing the T-accounts given below.
![1. Answer the following questions by analysing the T-accounts given below
Materials Inventory
Work in Process Inventory
Beg. balance
$ 18,000
Beg. balance
$ 20,000
360,000
?
Ending balance $ 14,000
230,000
400,000
Ending balance $ 25,000
Direct Labor
Finished Goods Inventory
$225,000
$230,000
Beg. balance
$ 98,000
Ending balance $ 5,000
?
Ending balance $110,000
Manufacturing Overhead
Cost of Goods Sold
$400,000
$400,000
-?
d) Direct labor costs assigned to production
e) The overhead as a percentage of direct labor costs
f) Total manufacturing costs charged to the Work in Process Inventory account during the current
year](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F647e7d3f-4bbe-4b31-a2db-0de63dc5e88d%2F8d4b6e82-253b-4009-b475-c7244b643a36%2Fxosq62_processed.png&w=3840&q=75)
Transcribed Image Text:1. Answer the following questions by analysing the T-accounts given below
Materials Inventory
Work in Process Inventory
Beg. balance
$ 18,000
Beg. balance
$ 20,000
360,000
?
Ending balance $ 14,000
230,000
400,000
Ending balance $ 25,000
Direct Labor
Finished Goods Inventory
$225,000
$230,000
Beg. balance
$ 98,000
Ending balance $ 5,000
?
Ending balance $110,000
Manufacturing Overhead
Cost of Goods Sold
$400,000
$400,000
-?
d) Direct labor costs assigned to production
e) The overhead as a percentage of direct labor costs
f) Total manufacturing costs charged to the Work in Process Inventory account during the current
year
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