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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 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

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 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: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
,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
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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