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Manufacturing Overhead
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QUESTION 4 Partially correct 29.00 points out of 41.00 Flag question Manufacturing Cost Flows with Machine Hours Allocation On April 1, Telecom Manufacturing Company's beginning balances in manufacturing accounts and finished goods inventory were as follows: Raw Materials Manufacturing Supplies 1,500 Work-in-Process Manufacturing Overhead Finished Goods $16,000 6,500 30,000 During April, Telecom Manufacturing completed the following manufacturing transactions 1. Purchased raw materials costing $47,000 and manufacturing supplies costing $3,000 on account. (Single Transaction) 2. Requisitioned raw materials costing $45,000 to the factory 3. Incurred direct labor costs of $27,000 and indirect labor costs of $4,800. 4. Used manufacturing supplies costing $2,500 5. Recorded manufacturing depreciation of $15,000. 6. Miscellaneous payables for manufacturing overhead totaled $3,600 7. Applied manufacturing overhead, based on 2,250 machine hours, at a predetermined rate of $10 per machine hour 8. Completed jobs costing $90,000 9. Finished goods costing $100,000 were sold (a) Prepare "T" accounts showing the flow of costs through all manufacturing accounts, Finished Goods Inventory, and Cost of Goods Sold. (b) Calculate the balances at the end of April for Work-in-Process Inventory and Finished Goods Inventory Enter transactions in the T-accounts in the order they appear using the first available answer box on the appropriate side. Raw Materials Inventory Work-in-Process Inventory Finished Goods Inventory 16,000 45,00r 6,500 100,0 x 30,0001 100,0 Bal Bal Bal 45,00( 27,00 22,500 3,000 90,00 100,0x Bal, 100,0( Ba 101,0 x Cost of Goods Sold Accumulated Depreciation- Factory Assets Accounts Payable 100,0 15,00 Wages Payable Other Payables Manufacturing Supplies 100,0 x 3,600 Bal. 1,5002,500