Question: All the information you need is provided answer only if you know what to do, don't give me incomplete and incorrect answers. Telstar uses job

All the information you need is provided answer only if you know what to do, don't give me incomplete and incorrect answers.

Telstar uses job order costing. The T-accounts below summarize its production activity for the year.

Raw Materials Inventory

Debit 45900

Credit 25150

8900

Factory Wages Payable

Debit 126,900

Credit 86,650

41,150

Factory Overhead

Debit 8,900

41,150

62,270

Credit

103,584

Work in Process Inventory

Debit 25,150

86,650

103,584

Credit

171,220

Finished Goods Inventory

Debit

171,220

Credit

15,41,90

Compute the amount for each of the following.

  1. Direct materials used
  2. Indirect materials used
  3. Direct labor used
  4. Indirect labor used
  5. Cost of goods manufactured
  6. Cost of goods sold (before closing over- or underapplied overhead)
  7. Compute the amount that overhead is overapplied or underapplied.

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