The following Information is available for a custom manufacturer. Inventories Raw materials, beginning Work in process,...
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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 $ 38,000 12,400 8,750 95,290 Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) underapplied overhead) Indirect materials used 83,200 Sales 100,000 Indirect labor used Predetermined overhead rate based on direct materials used Other overhead costs 80% 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 Compute overapplied or underapplied overhead. < Required 1 Required 2 > $ 18,460 43,250 22,800 9,300 16,400 4,300 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) $ 38,000 12,400 8,750 95,290 Indirect materials used 83,200 Sales 100,000 Indirect labor used Predetermined overhead rate based on direct materials used Other overhead costs 80% Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) $ 18,460 43,250 22,800 9,300 16,400 4,300 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 Finished Goods Inventory Work in Process 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 $ 38,000 12,400 8,750 95,290 Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) underapplied overhead) Indirect materials used 83,200 Sales 100,000 Indirect labor used Predetermined overhead rate based on direct materials used Other overhead costs 80% 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 Compute overapplied or underapplied overhead. < Required 1 Required 2 > $ 18,460 43,250 22,800 9,300 16,400 4,300 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) $ 38,000 12,400 8,750 95,290 Indirect materials used 83,200 Sales 100,000 Indirect labor used Predetermined overhead rate based on direct materials used Other overhead costs 80% Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) $ 18,460 43,250 22,800 9,300 16,400 4,300 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 Finished Goods Inventory Work in Process Inventory
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Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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