Chapter 16 Practice Problem #1 Directions: Arrange the below occounts in the cost flow order, by creating t accounts. Put the given numbers in the correct 1 accounts. Determine the unknown numbers, and the ending balance for each t account. Indicate whether factory overhead is everupplied or underapplied, Close out the overopplied ar underapplied factory overhead to Cost of Goods Sold, Fectory Overhaed Factory Overhead is applied based on direct labor costs. Estimated Factory Overhead Estimated Direct Labor Costs Actual Other Factory Overhead Actual Indirect Materials Used Beginning Balance Transferred In Transferred Out Ending Balance Beginning Balance Purchases Direct Materials Used Indirect Materials Ending Balance Beginning Balance Direct Materials Direct Labor Factory Overhead Transferred Out Ending Balance Beginning Balance Transferred In Ending Balance Finished Goods Inventory Total Wages Payable Direct Laber Indirect Labor Materials Inventory Work in Process Inventory Cost of Goods Sold Wages Payable 3,500,000 2,000,000 2,200,000 206,000 2,600,000 Unknown Unknown Unknown 3,207,000 Unlenown 1,250,000 Unknown 1948,760 802, 100 Unknown Unknown Unknown 4,200,000 Unknown 45,000 3,750 200 Unknown 5,700,000 Unknown 3,000,000

Chapter 16 frectice Arebles 51 by creating t accisols. Mit the geven nubers in the correct bulance for each 1 account. Insicate whether foctory ewertarail is everaplied or underappled. Clase out the averopolitd ar underupplied fectery evwrhead te Cont of Coodis Seld