Eppich Corporation has provided the following data for the most recent month: Raw materials, beginning balance Work in process, beginning balance Finished Goods, beginning balance $18,500 $32,000 $50,000 Transactions: (1) Raw materials purchases (2) (3) (4) Manufacturing overhead costs incurred (5) Manufacturing overhead applied $ 79,500 $ 77,500 $ 52,000 $ 90,500 $ 72,000 Raw materials used in production (all direct materials) Direct labor ( 6 ) Cost of units completed and transferred from Work in $190,000 Process to Finished Goods ( 7) Any overapplied or underapplied manufacturing overhead is closed to Cost of Goods Sold ? (8) Finished goods are sold $220,500 Required: Complete the following T-accounts by recording the beginning balances and each of the transactions listed above.

Eppich Corporation has provided the following data for the most recent month: Raw materials, beginning balance Work in process, beginning balance Finished Goods, beginning balance $18,500 $32,000 $50,000 Transactions: (1) Raw materials purchases (2) (3) (4) Manufacturing overhead costs incurred (5) Manufacturing overhead applied $ 79,500 $ 77,500 $ 52,000 $ 90,500 $ 72,000 Raw materials used in production (all direct materials) Direct labor ( 6 ) Cost of units completed and transferred from Work in $190,000 Process to Finished Goods ( 7) Any overapplied or underapplied manufacturing overhead is closed to Cost of Goods Sold ? (8) Finished goods are sold $220,500 Required: Complete the following T-accounts by recording the beginning balances and each of the transactions listed above.

Name: Raw MaterialsWork in ProcessBeg. Bal.Beg. Bal.End. Bal.End. Bal.Finis
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Description: Raw MaterialsWork in ProcessBeg. Bal.Beg. Bal.End. Bal.End. Bal.Finished GoodsManufacturing OverheadBeg. Bal.Beg. Bal.End. Bal.End. Bal.Cost of Goods SoldBeg. Bal.End. Bal. Eppich Corporation has provided the following data for the most recent month

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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