d. What was the cost of products completed during Febuary?e. What was the balance of the Work-in-Process Inventory account at the end of Fabuary?f. What was the operating profit for Febuary? Any over- or underapplied overhead is written off to Cost of Goods Sold?Please provide an explanation it would be of great help with my learning. Thank you <3 Partially completed T-accounts and additional information for Pine Ridge Corporation forthe month of February follow:Materials InventoryWork-in-Process InventoryВ В 2/1)56,000227,000BB (2/1) 100,000Labor190,000187,500Finished Goods InventoryCost of Goods SoldBB (2/1) 200,000345,000 251,000Manufacturing Overhead ControlApplied Manufacturing Overhead155,000150,000Additional information for February follows:Labor wage rate was $25 per hour.During the month, sales revenue was $600,000, and selling and administrative costs were$105,000.This company has no indirect materials or supplies.The company applies manufacturing overhead on the basis of direct labor costs.

Name: d. What was the cost of products completed during Febuary?e. What was
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: d. What was the cost of products completed during Febuary?e. What was the balance of the Work-in-Process Inventory account at the end of Fabuary?f. What was the operating profit for Febuary? Any over- or underapplied overhead is written off to Cost o

Inventories are those assets which are held by a company in order to earn profits through selling…

Answered: Partially completed T-accounts and…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Concept explainers

Topic Video

Question

d. What was the cost of products completed during Febuary?

e. What was the balance of the Work-in-Process Inventory account at the end of Fabuary?

f. What was the operating profit for Febuary? Any over- or underapplied overhead is written off to Cost of Goods Sold?

Please provide an explanation it would be of great help with my learning. Thank you <3

Partially completed T-accounts and additional information for Pine Ridge Corporation for
the month of February follow:
Materials Inventory
Work-in-Process Inventory
В В 2/1)
56,000
227,000
BB (2/1) 100,000
Labor
190,000
187,500
Finished Goods Inventory
Cost of Goods Sold
BB (2/1) 200,000
345,000 251,000
Manufacturing Overhead Control
Applied Manufacturing Overhead
155,000
150,000
Additional information for February follows:
Labor wage rate was $25 per hour.
During the month, sales revenue was $600,000, and selling and administrative costs were
$105,000.
This company has no indirect materials or supplies.
The company applies manufacturing overhead on the basis of direct labor costs.

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions