Work in Process Debit Credit Balance 1 / 1 2 5 , 0 0 0 Credits 4
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Question:
Work in Process
Debit
Credit
Balance
Credits
Direct materials
Direct labor
Overhead
Balance
question mark
Factory Wages Payable
Debit
Credit
Debits
Balance
Credits
Balance
Finished Goods
Debit
Credit
Balance
Credits
question mark
Debits
question mark
Balance
Cost of Goods Sold
Debit
Credit
Debits
question mark
Required:
What was the cost of raw materials used in production?
How much of the materials in above consisted of indirect materials?
How much of the factory labor cost is indirect labor?
What was the cost of goods manufactured?
What was the unadjusted cost of goods sold? Do not include any underapplied or overapplied overhead in your answer.
If overhead is applied to production using direct labor cost, what was the predetermined overhead rate?
Was manufacturing overhead underapplied or overapplied? By how much?
Related Book For
College Accounting Chapters 1-30
ISBN: 978-0077862398
14th edition
Authors: John Price, M. David Haddock, Michael Farina
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