Telstar uses job order costing. The T-accounts below summarize its production activity for the year.Raw Materials InventoryDebitFactory Wages PayableDebitCreditCredit46,900Work in Process InventoryDebitCredit26,1509,90026,15087,650104,584Required 1172,2201. Compute the amount for each of the following.a. Direct materials usedb. Indirect materials usedc. 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.Required 2127,900Complete this question by entering your answers in the tabs below.Finished Goods InventoryCreditDebit172,220 155,190Required 1 Required 287,65042, 150Compute the amount for each of the following.a. Direct materials usedb. Indirect materials usedc. Direct labor usedd. Indirect labor usede. Cost of goods manufacturedf. Cost of goods sold (before closing over- or underapplied overhead)Required 1Required 2 >Compute the amount that overhead is overapplied or underapplied.< Required 1Factory OverheadDebit9,90042,15063,270Required 2 >Credit104,584

Name: Telstar uses job order costing. The T-accounts below summarize its pr
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Description: Telstar uses job order costing. The T-accounts below summarize its production activity for the year.Raw Materials InventoryDebitFactory Wages PayableDebitCreditCredit46,900Work in Process InventoryDebitCredit26,1509,90026,15087,650104,584Required 11

Expenses directly related to producing the products that a business sells are referred to as Cost of…

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Accounting

Telstar uses job order costing. The T-accounts below summarize its production activity for the year. Raw Materials Inventory Factory Wages Payable Debit Debit Credit Credit 46,900 26,150 9,900 Work in Process Inventory Debit Credit 26,150 87,650 104,584 172,220 127,900 87,650 42,150 Finished Goods Inventory Debit Credit 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 172,220 155, 190 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. Factory Overhead Debit Credit 9,900 104,584 42,150 63,270

Telstar uses job order costing. The T-accounts below summarize its production activity for the year. Raw Materials Inventory Factory Wages Payable Debit Debit Credit Credit 46,900 26,150 9,900 Work in Process Inventory Debit Credit 26,150 87,650 104,584 172,220 127,900 87,650 42,150 Finished Goods Inventory Debit Credit 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 172,220 155, 190 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. Factory Overhead Debit Credit 9,900 104,584 42,150 63,270

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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