Complete the missing amounts and labels in the T-accounts. O (Click the icon to view the T-accounts.) O More Info Begin with the Work-in-Process-Cutting T-account, then complete each of the remaining T-accounts. (Abbreviations used: Work-in-Process Inventory-Cutting 이 57,000 5,000 39,000 Work-in-Process Inventory-Cutting 이(a) 57,000 5,000 39,000 16,000| Balance, May 1 85,000 Transfer out to WIP-Finishing Balance, May 1 Transfer out to Direct Materials Direct Materials Direct Labor Direct Labor Manufacturing Overhead Manufacturing Overhead Balance, May 31 16,000 Balance, May 31 Work-in-Process Inventory-Finishing Balance, May 1 11,000 Work-in-Process Inventory-Finishing 80,000 Transfer out to Transfer in from Balance, May 1 11,000 80,000 Transfer out to 21,000 (b) Direct Materials Transfer in from Direct Labor Direct Materials 21,000 Manufacturing Overhead 18,000 (c) Direct Labor Balance, May 31 68,000 Manufacturing Overhead 18,000
Complete the missing amounts and labels in the T-accounts. O (Click the icon to view the T-accounts.) O More Info Begin with the Work-in-Process-Cutting T-account, then complete each of the remaining T-accounts. (Abbreviations used: Work-in-Process Inventory-Cutting 이 57,000 5,000 39,000 Work-in-Process Inventory-Cutting 이(a) 57,000 5,000 39,000 16,000| Balance, May 1 85,000 Transfer out to WIP-Finishing Balance, May 1 Transfer out to Direct Materials Direct Materials Direct Labor Direct Labor Manufacturing Overhead Manufacturing Overhead Balance, May 31 16,000 Balance, May 31 Work-in-Process Inventory-Finishing Balance, May 1 11,000 Work-in-Process Inventory-Finishing 80,000 Transfer out to Transfer in from Balance, May 1 11,000 80,000 Transfer out to 21,000 (b) Direct Materials Transfer in from Direct Labor Direct Materials 21,000 Manufacturing Overhead 18,000 (c) Direct Labor Balance, May 31 68,000 Manufacturing Overhead 18,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Question 2, Part 2
![Complete the missing amounts and labels in the T-accounts.
A (Click the icon to view the T-accounts.)
More Info
Begin with the Work-in-Process-Cutting T-account, then complete each of the remaining T-accounts. (Abbreviations used:
Work-in-Process Inventory-Cutting
Work-in-Process Inventory-Cutting
Balance, May 1
85,000 Transfer out to
WIP-Finishing
Balance, May 1
이(a)
Transfer out to
Direct Materials
57,000
Direct Materials
57,000
Direct Labor
5,000
Direct Labor
5,000
Manufacturing Overhead
39,000
Manufacturing Overhead
39,000
Balance, May 31
16,000
Balance, May 31
16,000
Work-in-Process Inventory-Finishing
Balance, May 1
11,000
80,000 Transfer out to
Work-in-Process Inventory-Finishing
Transfer in from
Balance, May 1
11,000 80,000
Transfer out to
Direct Materials
21,000
Transfer in from
(b)
Direct Labor
Direct Materials
21,000
Manufacturing Overhead
18,000
Direct Labor
(c)
Balance, May 31
68,000|
Manufacturing Overhead
18,000
Balance, May 31
68,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F603d35a3-3fd0-4545-9874-8f7a9ef67273%2Fce24f3de-abd6-4e23-bfba-64a1bb7a785b%2Fo9pbdp8_processed.png&w=3840&q=75)
Transcribed Image Text:Complete the missing amounts and labels in the T-accounts.
A (Click the icon to view the T-accounts.)
More Info
Begin with the Work-in-Process-Cutting T-account, then complete each of the remaining T-accounts. (Abbreviations used:
Work-in-Process Inventory-Cutting
Work-in-Process Inventory-Cutting
Balance, May 1
85,000 Transfer out to
WIP-Finishing
Balance, May 1
이(a)
Transfer out to
Direct Materials
57,000
Direct Materials
57,000
Direct Labor
5,000
Direct Labor
5,000
Manufacturing Overhead
39,000
Manufacturing Overhead
39,000
Balance, May 31
16,000
Balance, May 31
16,000
Work-in-Process Inventory-Finishing
Balance, May 1
11,000
80,000 Transfer out to
Work-in-Process Inventory-Finishing
Transfer in from
Balance, May 1
11,000 80,000
Transfer out to
Direct Materials
21,000
Transfer in from
(b)
Direct Labor
Direct Materials
21,000
Manufacturing Overhead
18,000
Direct Labor
(c)
Balance, May 31
68,000|
Manufacturing Overhead
18,000
Balance, May 31
68,000
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education