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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Complete the T-accounts by computing the amounts indicated by a question mark.
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![Problem 3-44
Manufacturing 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. 11
Bal. 12/31
Bal. 11
Direct material
Direct labor
Manufacturing
overhead
Bal, 12/31
Raw-Materials Inventory
21,000
??
36,000
Work-In-Process Inventory
17,000
? ?
?
?
19,000
Manufacturing Overhead
Additional 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 Payable
2,000
?
5,000
147,000
Bal. 1/1
Bal. 12/31
Bal. 11
Bal. 12/31
Bal. 1/1
Bal. 12/31
Accounts Payable
2.500
136,500 ?
1,000
Finished-Goods Inventory
12,000
?
20,000
?
Cost of Goods Sold
710,000
Sales Revenue
Accounts Receivable
11,000
15,000
? 806,000
Bal. V1
Bal 12/31](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2c02441a-2709-4a61-a4ed-a2f21d6bd87c%2Fa8e39982-f179-49b9-be51-6921bdd94d39%2Fx7x2jp9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 3-44
Manufacturing 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. 11
Bal. 12/31
Bal. 11
Direct material
Direct labor
Manufacturing
overhead
Bal, 12/31
Raw-Materials Inventory
21,000
??
36,000
Work-In-Process Inventory
17,000
? ?
?
?
19,000
Manufacturing Overhead
Additional 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 Payable
2,000
?
5,000
147,000
Bal. 1/1
Bal. 12/31
Bal. 11
Bal. 12/31
Bal. 1/1
Bal. 12/31
Accounts Payable
2.500
136,500 ?
1,000
Finished-Goods Inventory
12,000
?
20,000
?
Cost of Goods Sold
710,000
Sales Revenue
Accounts Receivable
11,000
15,000
? 806,000
Bal. V1
Bal 12/31
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