Complete the T-accounts by computing the amounts indicated by a question mark. Step by Step, please Problem 3-44Manufacturing Cost Flows; Analysis of T-Accounts(LO 3-2, 3-5)Perfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's ledger as of December 31.Bal. 11Bal. 12/31Bal. 11Direct materialDirect laborManufacturingoverheadBal, 12/31Raw-Materials Inventory21,000??36,000Work-In-Process Inventory17,000? ???19,000Manufacturing OverheadAdditional information:a. Accounts payable is used only for direct-material purchases.b. Underapplied overhead of $2,500 for the year has not yet been closed into cost of goods sold.Required: Complete the T-accounts by computing the amounts indicated by a question mark.??Wages Payable2,000?5,000147,000Bal. 1/1Bal. 12/31Bal. 11Bal. 12/31Bal. 1/1Bal. 12/31Accounts Payable2.500136,500 ?1,000Finished-Goods Inventory12,000?20,000?Cost of Goods Sold710,000Sales RevenueAccounts Receivable11,00015,000? 806,000Bal. V1Bal 12/31

Journal Entries are posted into the T-accounts. As per dual aspect of accounting, every transaction…

Problem 3-44 anufacturing Cost Flows; Analysis of T-Accounts 0 3-2, 3-5) erfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's ledger as of December 31. Raw Materials Inventory 21,000 Bal. 11 Bal 12/31 Bal. 11 Direct material Direct labor Manufacturing overhead Bal 12/31 Work-in-Process Inventory 17,000 ?? 36,000 ?? ? ? 19,000 Manufacturing Overhead dditional information: 1. Accounts payable is used only for direct-material purchases. . Underapplied overhead of $2,500 for the year has not yet been closed into cost of goods sold. equired: Complete the T-accounts by computing the amounts indicated by a question mark. ?? Wages Payable 2,000 147,000 ? 5,000 Bal. 1/1 Bal 12/31 Bal V1 Bal. 12/31 Bal. 11 Bal. 12/31 Accounts Payable 2.500 136,500 ? Finished-Goods Inventory 12,000 1,000 ?? 20,000 Cost of Goods Sold 710,000 Sales Revenue Accounts Receivable 11,000 ? 806,000 15,000 Bal. 11 Bal 12/31

Problem 3-44 anufacturing Cost Flows; Analysis of T-Accounts 0 3-2, 3-5) erfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's ledger as of December 31. Raw Materials Inventory 21,000 Bal. 11 Bal 12/31 Bal. 11 Direct material Direct labor Manufacturing overhead Bal 12/31 Work-in-Process Inventory 17,000 ?? 36,000 ?? ? ? 19,000 Manufacturing Overhead dditional information: 1. Accounts payable is used only for direct-material purchases. . Underapplied overhead of $2,500 for the year has not yet been closed into cost of goods sold. equired: Complete the T-accounts by computing the amounts indicated by a question mark. ?? Wages Payable 2,000 147,000 ? 5,000 Bal. 1/1 Bal 12/31 Bal V1 Bal. 12/31 Bal. 11 Bal. 12/31 Accounts Payable 2.500 136,500 ? Finished-Goods Inventory 12,000 1,000 ?? 20,000 Cost of Goods Sold 710,000 Sales Revenue Accounts Receivable 11,000 ? 806,000 15,000 Bal. 11 Bal 12/31

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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