Raw Materials InventoryDebitCredit46,40025,6509,400Work in Process InventoryDebitCredit25,650 171,72087,150104,0841. Compute the amount for each of the following.a. Direct materials usedb. Indirect materials usedc. Direct labor usedd. Indirect labor usedFactory Wages PayableDebitCreditRequired 1 Required 2127,400Finished Goods InventoryDebitCredit171,720 154,690e. Cost of goods manufacturedf. Cost of goods sold (before closing over- or underapplied overhead)2. Compute the amount that overhead is overapplied or underapplied.87,15041,650Complete this question by entering your answers in the tabs below.Compute the amount that overhead is overapplied or underapplied.Overapplied overhead< Required 1Required 2 >Factory Overhead9,40041,65062,770DebitCredit104,084Check cesTelstar uses job order costing. The T-accounts below summarize its production activity for the year.Raw Materials InventoryFactory Wages PayableDebitCreditDebitCraw46,40025,6509,400Work in Process InventoryDebitCredit25,65087,150104,084171,7201. Compute the amount for each of the following.a. Direct materials usedb. Indirect materials used127,400Required 1 Required 2c. Direct labor usedd. Indirect labor usede. Cost of goods manufacturedf. Cost of goods sold (before closing over- or underapplied overhead)2. Compute the amount that overhead is overapplied or underapplied.Finished Goods InventoryDebitCredit171,720 154,690Credit87,15041,650Complete this question by entering your answers in the tabs below.Compute the amount that overhead is overapplied or underapplied.< Prev9 of 20wwwwwwFactory OverheadDebitNext >9,40041,65062,770Credit104,084

Name: Raw Materials InventoryDebitCredit46,40025,6509,400Work in Process In
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Description: Raw Materials InventoryDebitCredit46,40025,6509,400Work in Process InventoryDebitCredit25,650 171,72087,150104,0841. Compute the amount for each of the following.a. Direct materials usedb. Indirect materials usedc. Direct labor usedd. Indirect labor

When the actual overhead is deducted from the applied overhead and the amount so obtained is…

Business

Accounting

Raw Materials Inventory Debit Credit 46,400 25,650 9,400 Work in Process Inventory Debit Credit 25,650 87,150 104,084 171,720 1. Compute the amount for each of the following. Factory Wages Payable Debit 127,400 Required 1 Required 2 a. Direct materials used b. Indirect materials used c. Direct labor used d. Indirect labor used e. Cost of goods manufactured f. Cost of goods sold (before closing over- or underapplied overhead) 2. Compute the amount that overhead is overapplied or underapplied. Credit 87,150 41,650 Finished Goods Inventory Debit Credit 171,720 154,690 Complete this question by entering your answers in the tabs below. Compute the amount that overhead is overapplied or underapplied. Overapplied overhead Factory Overhead Debit 9,400 41,650 62,770 Credit 104,084

Raw Materials Inventory Debit Credit 46,400 25,650 9,400 Work in Process Inventory Debit Credit 25,650 87,150 104,084 171,720 1. Compute the amount for each of the following. Factory Wages Payable Debit 127,400 Required 1 Required 2 a. Direct materials used b. Indirect materials used c. Direct labor used d. Indirect labor used e. Cost of goods manufactured f. Cost of goods sold (before closing over- or underapplied overhead) 2. Compute the amount that overhead is overapplied or underapplied. Credit 87,150 41,650 Finished Goods Inventory Debit Credit 171,720 154,690 Complete this question by entering your answers in the tabs below. Compute the amount that overhead is overapplied or underapplied. Overapplied overhead Factory Overhead Debit 9,400 41,650 62,770 Credit 104,084

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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Product Cost Flows Complete the following T-accounts: Materials Inventory 1,120 Answer Answer 18,120 250 Wages Payable 9,000 1,050 Finished Goods Inventory 1,500 Answer Answer 1,200 Manufactured Overhead 175 Answer Answer 18,000 4,500 0 Work in Process Inventory 3,500 Answer Answer 9,000 Answer 500 Cost of Goods Sold Answer Save AnswersNext
Cost of Goods Manufactured for a Manufacturing Company Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter. Work in process inventory, August 1 $41,650 Total manufacturing costs incurred during August Total manufacturing costs Work in process inventory, August 31 Cost of goods manufactured a. $ b. C. C. 1. S $19,660 332,750 (0) 23,500 (b) (e) 1,075,000 1515,770 $1,240,000 54,000 ( (d) $1,068,000
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Cost of Goods Manufactured for a Manufacturing Company Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter. Work in process inventory, August 1 Total manufacturing costs incurred during August Total manufacturing costs Work in process inventory, August 31 Cost of goods manufactured a. $ b. $ C. $ d. $ e. $ tA f. $ X X X X X X $1,900 13,100 (a) 2,900 (b) $15,600 (c) $182,500 38,300 (d) (e) 91,300 $99,100 (f) $83,200
Requirement 1. Calculate direct materials inventory on August 31, 2022. Determine the formula and then calculate the direct materials inventory value at August 31, 2022. (Work in millions. Use a minus sign or parentheses for numbers to be subtracted.) Direct materials available for production Direct materials inventory, August 31, 2022 Requirement 2. Calculate fixed manufacturing overhead costs for August. (Work in millions. Use a minus sign or parentheses for numbers to be subtracted.) Fixed manufacturing overhead costs
Cost of Goods Manufactured for a Manufacturing Company Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter. Work in process inventory, August 1 $2,200 $18,900 (e) Total manufacturing costs incurred during August 15,200 (c) 111,200 Total manufacturing costs (a) $221,100 $120,700 Work in process inventory, August 31 3,300 46,400 (f) Cost of goods manufactured (b) (d) $101,400 a. b. c. d. e. f.
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