The McCloud Company had the following inventories at the beginning and end of January: During January, the
Question:
During January, the cost of materials purchased was $138,000, and factory overhead of $90,000 was applied at a rate of 50% of direct labor cost. January cost of goods sold was $205,000.
Required:
Prepare completed T accounts showing the flow of the cost of goods manufactured and sold.
Transcribed Image Text:
January 1 $10,000 January 31 38,000 110,000 145,000 Work in Process. Finished Goods 50,000
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