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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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
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