Question: Need help with accounting question. Please show your work to help me understand. Thank you. 1. Drect materials purchases totaled $583 ooo. 2. $132,000 of
1. Drect materials purchases totaled $583 ooo. 2. $132,000 of indirect materials were used in production. Dlagby uses a separate Supplies Inventory account for indirect materials. 3. $569,000 of direct materials were used in production. 4. The direct labor payroll was $791,000 (credit Wages Payable). 5. Other mansfacturing overthead costs incurred during the year totaled $6g0,000. 6. Bagby applies overhead based on a predetermined overised rate of $21 per machine hour. The company used 51,000 machine hours daring the year. 7. During the year, laghy transferred goods costing $2,410,000 into the Finished Goods Imventory wecuent. 8. Bagly sold products with a masufacturing cost of $2,398,000 to castomers daring the year. Bequaired a. Prepare journal entries to record these events. from part (a) in the T-Accoants and calculate ending acceunt balances. Assume the followite besinning account balances: c. Was overthead ander- or crerapolied for the yvar? By how mach
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