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Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured Cost of goods sold (not considering over- or underapplied overhead) Sales Predetermined overhead rate based on direct materials used $ 39,200 13,600 9,950 96,490 Required 1 Required 2 84,400 101,200 80% Finished Goods Inventory Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) . Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. 2. Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. Indirect materials used Indirect labor used Other overhead costs Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. Raw Materials Inventory < Required 1 Work in Process Inventory Required 2 > $ 19,660 45,650 24,000 10,500 17,600 5,500

Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured Cost of goods sold (not considering over- or underapplied overhead) Sales Predetermined overhead rate based on direct materials used $ 39,200 13,600 9,950 96,490 Required 1 Required 2 84,400 101,200 80% Finished Goods Inventory Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) . Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. 2. Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. Indirect materials used Indirect labor used Other overhead costs Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. Raw Materials Inventory < Required 1 Work in Process Inventory Required 2 > $ 19,660 45,650 24,000 10,500 17,600 5,500

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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The following information is available for a custom manufacturer. Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning. Cost of goods manufactured Cost of goods sold (not considering over- or underapplied overhead) Sales Predetermined overhead rate based on direct materials used $ 39,200 13,600 9,950 96,490 Required 1 Required 2 84,400 101,200 80% Finished Goods Inventory Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) 1. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. 2. Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. Indirect materials used Indirect labor used Other overhead costs Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. Raw Materials Inventory < Required 1 Work in Process Inventory Required 2 > $ 19,660 45,650 24,000 10,500 17,600 5,500
Transcribed Image Text:The following information is available for a custom manufacturer. Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning. Cost of goods manufactured Cost of goods sold (not considering over- or underapplied overhead) Sales Predetermined overhead rate based on direct materials used $ 39,200 13,600 9,950 96,490 Required 1 Required 2 84,400 101,200 80% Finished Goods Inventory Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) 1. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. 2. Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. Indirect materials used Indirect labor used Other overhead costs Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. Raw Materials Inventory < Required 1 Work in Process Inventory Required 2 > $ 19,660 45,650 24,000 10,500 17,600 5,500
The following information is available for a custom manufacturer. Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured Cost of goods sold (not considering over- or underapplied overhead) Sales Predetermined overhead rate based on direct materials used Required 1 Required 2 $ 39,200 13,600 Compute overapplied or underapplied overhead. 9,950 96,490 < Required 1 84,400 101,200 80% 1. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. 2. Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs Required 2 > $ 19,660 45,650 24,000 10,500 17,600 5,500
Transcribed Image Text:The following information is available for a custom manufacturer. Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured Cost of goods sold (not considering over- or underapplied overhead) Sales Predetermined overhead rate based on direct materials used Required 1 Required 2 $ 39,200 13,600 Compute overapplied or underapplied overhead. 9,950 96,490 < Required 1 84,400 101,200 80% 1. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. 2. Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs Required 2 > $ 19,660 45,650 24,000 10,500 17,600 5,500
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