Telstar uses job order costing. The T-accounts below summarize its production activity for the year, Raw Materials Inventory Debit Credit 47,000 26,250 10,000 Factory Wages Payable Debit Credit 128,000 87,750 42,250 es Work in Process Inventory Debit Credit Debit Finished Goods Inventory Credit 26,250 87,750 172,320 172,320 155,290 104,684 1. Compute the amount for each of the following. 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. Complete this question by entering your answers in the tabs below. Factory Overhead Debit Credit 10,000 104,684 42,250 63,370
Telstar uses job order costing. The T-accounts below summarize its production activity for the year, Raw Materials Inventory Debit Credit 47,000 26,250 10,000 Factory Wages Payable Debit Credit 128,000 87,750 42,250 es Work in Process Inventory Debit Credit Debit Finished Goods Inventory Credit 26,250 87,750 172,320 172,320 155,290 104,684 1. Compute the amount for each of the following. 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. Complete this question by entering your answers in the tabs below. Factory Overhead Debit Credit 10,000 104,684 42,250 63,370
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter2: Accounting For Materials
Section: Chapter Questions
Problem 13P: Webster Company uses backflush costing to account for its manufacturing costs. The trigger points...
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