Complete the missing amounts and labels in the T-accounts. Work-in-Process Inventory--Cutting Balance, May 1 0 (a) Transfer out to ? Direct Materials 57,000 Direct Labor 5,000 Manufacturing Overhead 39,000 Balance, May 31 16,000 Work-in-Process Inventory ---Finishing Balance, May 1 11,000 80,000 Transfer out to ? Transfer in from (b) Direct Materials 21,000 Direct Labor (c) Manufacturing Overhead 18,000 Balance, May 31 68,000 Work-in-Process Inventory---Packaging Balance, May 1 4,000 (d) Transfer out to ? Transfer in from (e) Direct Materials 1,000 Direct Labor 9,000 Manufacturing Overhead 14,000 Balance, May 31 8,000 Finished Goods Inventory Balance, May 1 0 (f) Transfer out to ? Transfer in from ? (g) Balance, May 31 2,000 Cost of Goods Sold Balance, May 1 0 Transfer in from ? (h) Balance, May 31 (i)
Complete the missing amounts and labels in the T-accounts. Work-in-Process Inventory--Cutting Balance, May 1 0 (a) Transfer out to ? Direct Materials 57,000 Direct Labor 5,000 Manufacturing Overhead 39,000 Balance, May 31 16,000 Work-in-Process Inventory ---Finishing Balance, May 1 11,000 80,000 Transfer out to ? Transfer in from (b) Direct Materials 21,000 Direct Labor (c) Manufacturing Overhead 18,000 Balance, May 31 68,000 Work-in-Process Inventory---Packaging Balance, May 1 4,000 (d) Transfer out to ? Transfer in from (e) Direct Materials 1,000 Direct Labor 9,000 Manufacturing Overhead 14,000 Balance, May 31 8,000 Finished Goods Inventory Balance, May 1 0 (f) Transfer out to ? Transfer in from ? (g) Balance, May 31 2,000 Cost of Goods Sold Balance, May 1 0 Transfer in from ? (h) Balance, May 31 (i)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Complete the missing amounts and labels in the T-accounts.
| Work-in-Process Inventory--Cutting | |||||
| Balance, May 1 | 0 | (a) | Transfer out to | ? | |
| Direct Materials | 57,000 | ||||
| Direct Labor | 5,000 | ||||
| Manufacturing |
39,000 | ||||
| Balance, May 31 | 16,000 | ||||
| Work-in-Process Inventory ---Finishing | |||||
| Balance, May 1 | 11,000 | 80,000 | Transfer out to | ? | |
| Transfer in from | (b) | ||||
| Direct Materials | 21,000 | ||||
| Direct Labor | (c) | ||||
| Manufacturing Overhead | 18,000 | ||||
| Balance, May 31 | 68,000 | ||||
| Work-in-Process Inventory---Packaging | |||||
| Balance, May 1 | 4,000 | (d) | Transfer out to | ? | |
| Transfer in from | (e) | ||||
| Direct Materials | 1,000 | ||||
| Direct Labor | 9,000 | ||||
| Manufacturing Overhead | 14,000 | ||||
| Balance, May 31 | 8,000 | ||||
| Finished Goods Inventory | |||||
| Balance, May 1 | 0 | (f) | Transfer out to | ? | |
| Transfer in from ? | (g) | ||||
| Balance, May 31 | 2,000 | ||||
| Cost of Goods Sold | |||||
| Balance, May 1 | 0 | ||||
| Transfer in from ? | (h) | ||||
| Balance, May 31 | (i) |
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