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EX $3-31($Algo$)$ Manufacturing Cost Flows $($LO $3-2,3-5,3-6)$

$[$The following information applies to the questions displayed below.$]$

FlatPack Furniture Company, Incorporated, incurred the following costs during $202.$

During $202,$ manufacturing overhead of $$170,000$ was applied to production. Products costing $$121,000$ were

finished, and products costing $$132,000$ were sold on account for $$195,000.$ There were no purchases of raw

material during the year. The beginning balances in the firm's inventory accounts are as follows:

EX $3-31($Algo$)$ Part $2$ Prepare a partial balance sheet and a partial income statement...

Prepare a partial balance sheet and a partial income statement to reflect the information given above.

EX $3-31($Algo$)$ Manufacturing Cost Flows $($LO $3-2,3-5,3-6)$

$[$The following information applies to the questions displayed below.$]$

FlatPack Furniture Company, Incorporated, incurred the following costs during $202.$

During $202,$ manufacturing overhead of $$170,000$ was applied to production. Products costing $$121,000$ were finished,

and products costing $$132,000$ were sold on account for $$195,000.$ There were no purchases of raw material during the

year. The beginning balances in the firm's inventory accounts are as follows:

EX $3-31($Algo$)$ Part $1$ Prepare T$-$accounts to show the flow of costs...

Required:

Prepare T$-$accounts to show the flow of costs through the company's manufacturing accounts during $202.$