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The following information is available for a custom manufacturer Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured Cost of goods seld (not considering over- or underapplied overhead) Sales Predetermined overhead rate based on direct materials used $ 38,200 12,600 8,950 95,490 83,400 100, 200 80% Costs incurred for the period Raw materials purchases, Direct materials used Direct labor used Factory overhead (actual). Indirect materials used Indirect labor used Other overhead costs. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. -Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. $ 18,660 43,650 23,000 9,500 16,600 4,500

The following information is available for a custom manufacturer Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured Cost of goods seld (not considering over- or underapplied overhead) Sales Predetermined overhead rate based on direct materials used $ 38,200 12,600 8,950 95,490 83,400 100, 200 80% Costs incurred for the period Raw materials purchases, Direct materials used Direct labor used Factory overhead (actual). Indirect materials used Indirect labor used Other overhead costs. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. -Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. $ 18,660 43,650 23,000 9,500 16,600 4,500

FINANCIAL ACCOUNTING
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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The following information is available for a custom manufacturer. Inventories Kaw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured Cost of goods seld (not considering over or underapplied overhead) Sales Predetermined overhead rate based on direct materials used $ 38,200 12,600 8,950 95,490 83,400 100,200 80% Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) Indirect materials used Indirect laber used Other overhead costs. 1. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. 2. Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. Raw Materials inventory $ 18,660 43,650 23,000 Work in Process Inventory 9,500 16,600 4,500
Transcribed Image Text:The following information is available for a custom manufacturer. Inventories Kaw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured Cost of goods seld (not considering over or underapplied overhead) Sales Predetermined overhead rate based on direct materials used $ 38,200 12,600 8,950 95,490 83,400 100,200 80% Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) Indirect materials used Indirect laber used Other overhead costs. 1. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. 2. Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. Raw Materials inventory $ 18,660 43,650 23,000 Work in Process Inventory 9,500 16,600 4,500
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