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 sold (not considering over- or underapplied overhead) Sales Predetermined overhead rate based on direct materials used $ 39,600 14,000 Required 1. 10,350 96,890 Required 2 84,800 101,600 Costs incurrer Raw material Direct mate Direct labo Factory ove 80% 1. Complete the T-accounts for each of the three inventory accounts using the data p 2. Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. Indirect Indirect Other ove Complete the T-accounts for each of the three inventory accounts using the data provic Raw Materials Inventory
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 sold (not considering over- or underapplied overhead) Sales Predetermined overhead rate based on direct materials used $ 39,600 14,000 Required 1. 10,350 96,890 Required 2 84,800 101,600 Costs incurrer Raw material Direct mate Direct labo Factory ove 80% 1. Complete the T-accounts for each of the three inventory accounts using the data p 2. Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. Indirect Indirect Other ove Complete the T-accounts for each of the three inventory accounts using the data provic Raw Materials Inventory
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please do not give solution in image format thanku

Transcribed Image Text: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 sold (not considering over- or
underapplied overhead)
Sales
Predetermined overhead rate based on direct
materials used
Beginning
Purchases
Ending
1. Complete the T-accounts for each of the three inventory accounts using the data p
2. Compute overapplied or underapplied overhead.
Complete this question by entering your answers in the tabs below.
Beginning
Cost of goods manufactured
Ending
$ 39,600
14,000
10,350
96,890
Required 1 Required 2
Complete the T-accounts for each of the three inventory accounts using the data provic
Raw Materials Inventory
39,600
20,060
59,660
84,800
101,600
Finished Goods Inventory
10,350
96,890
80%
22,440
Costs incurre
Raw materia
Direct mate
Direct labo
Factory ove
Indirect
Indirect
Other ove
84,800 Cost of goods sold
Be
Dir
Dir
A
Requi

Transcribed Image Text:,600
,000
350
890
800
600
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
nts using the data provided in the above table.
below.
ng the data provided in the above table.
old
Beginning
Direct labor
Direct materials
Ending
Required 1
Work in Process Inventory
14,000
24,400
46,450
84,850
$ 20,060
46,450
24,400
Required 2 >
10,900
18,000
5,900
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