Question: Question 1: Cost Flow You are to summarize the flow of manufacturing costs through the ledger accounts of Curtis Mfg. Co. for the month of
Question 1: Cost Flow You are to summarize the "flow" of manufacturing costs through the ledger accounts of Curtis Mfg. Co. for the month of June. Complete the following T accounts by entering summary amounts for the month in each of the blank spaces provided (lettered a through ). In addition to the amounts already shown in the T accounts, the following information is available: Direct materials used during June........ $45,000 Wages paid during June to direct labor workers 16,000 Cost of finished goods manufactured 92,000 Total manufacturing costs charged to production (in the Work in Process account, record this entire amount as one entry). 88,000 a Materials Inventory Beg. Bal. 37,000 b End. Bal. 44,000 Direct Labor Beg. Bal. 0 d End. Bal. 4,000 Manufacturing Overhead 23,000 e Work in Process Inventory Beg. Bal. 8,000 f g End. Bal. 4,000 Finished Goods Inventory Beg. Bal. 52,000 h i End. Bal. 46,000 Cost of Goods Sold j C
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