Please don't give image format Purchases of raw materials$ 32,000Indirect materials used in production$ 4,820Direct labor$ 59,700Manufacturing overhead applied to work in process $ 87,600Underapplied overhead$ 4,150Beginning Ending$10,500 $ 19,600Work in process$54,000$66,600Finished goods $33,400 $ 43,100Required:1. Prepare a schedule of cost of goods manufactured for the month.2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed toCost of Goods Sold.InventoriesRaw materials

Name: Please don't give image format Purchases of raw materials$ 32,000Indir
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Description: Please don't give image format Purchases of raw materials$ 32,000Indirect materials used in production$ 4,820Direct labor$ 59,700Manufacturing overhead applied to work in process $ 87,600Underapplied overhead$ 4,150Beginning Ending$10,500 $ 19,600Wor

Total manufacturing cost :— It is the sum of direct material used in production, direct labor cost…

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Accounting

Purchases of raw materials Indirect materials used in production $ 32,000 $ 4,820 $ 59,700 Manufacturing overhead applied to work in process $ 87,600 Underapplied overhead $ 4,150 Inventories Raw materials Direct labor Beginning Ending $10,500 $ 19,600 $66,600 $43,100 Work in process $54,000 Finished goods $33,400 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.

Purchases of raw materials Indirect materials used in production $ 32,000 $ 4,820 $ 59,700 Manufacturing overhead applied to work in process $ 87,600 Underapplied overhead $ 4,150 Inventories Raw materials Direct labor Beginning Ending $10,500 $ 19,600 $66,600 $43,100 Work in process $54,000 Finished goods $33,400 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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