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Finished Goods Materials Beg. 120,000 960,000 Work in Process 160,000 3,760,000 720,000 1,200,000 FOH Applied1,920,000| Beg Beg 320,000 DM DL ? End 200,000 End ?? End 480,000 Factory Overhead Wages Payable COGS 72,000 1,440,000 1,840,000 ? 1,480,000 ? 22.000

Finished Goods Materials Beg. 120,000 960,000 Work in Process 160,000 3,760,000 720,000 1,200,000 FOH Applied1,920,000| Beg Beg 320,000 DM DL ? End 200,000 End ?? End 480,000 Factory Overhead Wages Payable COGS 72,000 1,440,000 1,840,000 ? 1,480,000 ? 22.000

FINANCIAL ACCOUNTING
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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24
PROBLEM 5: The selected ledger accounts of Luca Corp. for the year ended are as follows: Work in Process 160,000 3,760,000 720,000 1,200,000 FOH Applied1,920,000 Materials Beg. 120,000 960,000 Beg DM Finished Goods Beg 320,000 DL ? ? End 200,000 End ?? End 480,000 Factory Overhead Wages Payable COGS 72,000 1,840,000 ? 1,480,000 1,440,000 ? 32,000
Transcribed Image Text:PROBLEM 5: The selected ledger accounts of Luca Corp. for the year ended are as follows: Work in Process 160,000 3,760,000 720,000 1,200,000 FOH Applied1,920,000 Materials Beg. 120,000 960,000 Beg DM Finished Goods Beg 320,000 DL ? ? End 200,000 End ?? End 480,000 Factory Overhead Wages Payable COGS 72,000 1,840,000 ? 1,480,000 1,440,000 ? 32,000
24. How much is the cost of goods manufactured? 25. How much is the cost of goods sold for the year? 26. What is the predetermined rate of factory overhead, if direct labor is the basis of computation?
Transcribed Image Text:24. How much is the cost of goods manufactured? 25. How much is the cost of goods sold for the year? 26. What is the predetermined rate of factory overhead, if direct labor is the basis of computation?
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