Barker Products is a job shop. The following events occurred in September: Purchased $14,500 of materials on account. Issued $16,000 in direct materials to the production department. Purchased $12,500 of materials on account. Issued $975 of supplies from the materials inventory. Paid for the materials purchased in transaction (1). Paid $20,700 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing plant. Incurred direct labor costs of $25,000, which were credited to Wages Payable. Issued $1,375 of supplies from the materials inventory. Applied overhead on the basis of 85 percent of $25,000 direct labor costs. Recognized depreciation on manufacturing property, plant, and equipment of $13,100. The following balances appeared in the accounts of Barker Products for September Beginning Ending Materials Inventory $ 36,200 ? Work-in-Process Inventory 6,250 ? Finished Goods Inventory 36,500 $ 32,500 Cost of Goods Sold 59,600 Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold.
Barker Products is a job shop. The following events occurred in September:
Purchased $14,500 of materials on account.
Issued $16,000 in direct materials to the production department.
Purchased $12,500 of materials on account.
Issued $975 of supplies from the materials inventory.
Paid for the materials purchased in transaction (1).
Paid $20,700 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing plant.
Incurred direct labor costs of $25,000, which were credited to Wages Payable.
Issued $1,375 of supplies from the materials inventory.
Applied overhead on the basis of 85 percent of $25,000 direct labor costs.
Recognized
The following balances appeared in the accounts of Barker Products for September
Beginning Ending
Materials Inventory $ 36,200 ?
Work-in-Process Inventory 6,250 ?
Finished Goods Inventory 36,500 $ 32,500
Cost of Goods Sold 59,600
Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold.
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