Exercise $9-46($Algo$)$ Activity$-$Based Costing: Cost Flows through T$-$Accounts $($LO $9-5,7)$

Heintz Products uses activity$-$based costing to account for product costs. The plant manager has estimated the following cost drivers and rates.

$\backslash$table$[[$Activity Centers,Cost Drivers,$],[$Materials inspection,Direct materials cost,Rate per Cost Driver Unit$],[$Equipment maintenance,Machine$-$hours,$15\%$ of materials cost$],[$Machine setups,Number of production runs,$$30$ per machine$-$hour$],[$Packing and shipping,Pounds of finished output,$$5\mathrm{.}30$ per setup$]]$

Direct materials costs were $$552,000$ and direct labor costs were $$392,000$ during November, when the plant finished $7,000$ pounds of product, had $20$ setups, and ran the machines for $15,000$ hours. There were no work$-$in$-$process inventories.

Required:

Use T$-$accounts to show the flow of materials, labor, and overhead costs from the four overhead activity centers through Work$-$inProcess Inventory and out to Finished Goods Inventory. Use the accounts Materials Inventory, Wages Payable, Work$-$in$-$Process Inventory, Finished Goods Inventory, and four overhead applied accounts.

$\backslash$table$[[$Debit$,,$Credit$],[$Beginning Balance,,,$],[,,,],[,,,],[,,,],[$Ending Balance,,,$],[,,,]]$

$\backslash$table$[[$Wages Payable,,$],[$Beginning Balance,,,$],[,,,],[,,,],[,,,],[$Ending Balance,,,$]]$

$\backslash$table$[[$Overhead Applied: Materials Inspection,,$],[$Deginning Balance,,,$],[,,,],[,,,],[$Ending Balance,,,$],[,,,]]$

$\backslash$table$[[$Overhead Applied: Equipment Maintenance,,$],[$Debit$,,$Credit,$],[$Beginning Balance,,,$],[,,,],[$Ending Balance,,,$]]$

$\backslash$table$[[$Overhead Applied: Machine Setups,$],[$Deginning Balance,,,Credit$],[,,,],[,,,]]$

$\backslash$table$[[$Overhead Applied: Packing and Shipping$],[$Debit$,,$Credit,$],[$Beginning Balance,,,$],[,,,],[,,,]]$