Perfecto Pizza Company prodtices microwavable pizzas. The following accounts appeared in Perfectos ledger as of December 31.
Question:
Additional information:
a. Accounts payable is used only for direct-material purchases.
b. Under applied overhead of $2,500 for the year has not yet been closed into cost of goods sold.
Required: Complete the T-accounts by computing the amounts indicated by a questionmark.
Transcribed Image Text:
Raw-Materials Inventory Accounts Payable Bal. 1/1 21,000 2,500 Bal. 1/1 136,500 ? Bal. 12/31 36,000 1,000 Bal. 12/31 Work-in-Process Inventory Finished-Goods Inventory Bal. 1/1 Direct material Direct labor Manufacturing 17,000 Bal. 1/1 12,000 Bal. 12/31 20,000 Bal. 12/31 19,000 Manufacturing Overhead Cost of Goods Sold 710,000 Wages Payable 2,000 Sales Revenue Bal. 1/1 147,000? 5,000 Bal. 12/31 Accounts Receivable Bal, 1/1 11,000 806,000 Bal. 12/31 15,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (15 reviews)
The completed Taccounts are shown below RawMaterial Inventory Ac...View the full answer
Answered By
Payal Mittal
I specialize in finance and accounts.You can ask any question related to til undergradution.Organizational behaviour and HRM are my favourites for you can always relate to them and is an art with practical knowledge base.
4.90+
226+ Reviews
778+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Information for Gifford, Inc., as of December 31 follows: Administrative salaries $ 35,000 Depreciation of factory equipment 25,000 Depreciation of delivery vehicles 6,000 Direct labor 68,000 Factory...
-
14) A pumping test (see figure below) was performed in a well penetrating a confined aquifer to evaluate the coefficient of permeability of the soil in the aquifer. When equilibrium was reached, the...
-
The following accounts appeared in recent financial statements of Continental Airlines: Accounts Payable Flight Equipment Air Traffic Liability Landing Fees Aircraft Fuel Expense Passenger Revenue...
-
Sherman Co. began operations on January 1, 2015, and completed several transactions during 2015 and 2016 that involved sales on credit, accounts receivable collections, and bad debts. These...
-
In a round-robin tournament the Tigers beat the Blue Jays, the Tigers beat the Cardinals, the Tigers beat the Orioles, the Blue Jays beat the Cardinals, the Blue Jays beat the Orioles, and the...
-
Explore the role of advanced urban design principles, including parametric modeling and generative design algorithms, in shaping the built environment of land development projects, fostering...
-
Round Rock Corp. borrowed \(\$ 35,000\), issued common stock of \(\$ 10,000\), and paid dividends of \(\$ 25,000\). What was Round Rock's net cash provided (used) by financing activities? a. \(S 0\)...
-
Bonds with a face value of $1,000 were issued for $920. Make the necessary journal entry on the books of the issuer.
-
Slipshod Machine Tool Co. owes $55,000 to one of its suppliers. The supplier has offered a trade discount of 2/10 net 30. Slipshod can borrow the funds from one of three banks: First City Bank will...
-
Reduction of evaporation losses by transpiration (Fig. 11B.7), it is proposed to reduce the rate of evaporation of liquefied oxygen in small containers by taking advantage of transpiration. To do...
-
Burlington Clock Works manufactures line, handcrafted clocks. The firm uses a job-order costing system, and manufacturing overhead is applied on the basis of direct-labor hours. Estimated...
-
Stellar Sound, Inc. which uses a job-order costing system had two jobs in process at the start of 20x 1: job no. 64 ($84,000) and job no. 65 ($53,500). The following information is available: a. The...
-
Solve the given quadratic equations by factoring. R 2 + 12 = 7R
-
5. Boundary Value Problem: Consider the boundary value problem given by d y =-y dx with boundary conditions and y(0) = 1 y() = -1 . Solve this problem using the method of separation of variables.
-
2. According University of Maryland records, 0.55 of undergraduate students have lived in Maryland, 0.38 of undergraduate students have lived in states other than Maryland, and 0.16 of undergraduate...
-
An unknown force is applied to a 5 kg object. The force acts at an angle of 30 above the horizontal. Determine the force acting on the object if the object horizontally displaces 30 meters and if its...
-
Stone Company is facing several decisions regarding investing and financing activities. Address each decision independently. 1. On June 30, 2024, the Stone Company purchased equipment from Paper...
-
A heat engine receives 75.0 MJ from a thermal reservoir and rejects 975 kJ over a 1 hour interval. What is the output power of the engine?
-
Why is an objective standard used to evaluate the reasonableness of a defendants conduct? How would using a subjective standard affect these cases?
-
on 8 For the following set of lengths 130, 170, 160, 160, 150, 190 Third quartile is: et red d out of Select one: O a. 160 a question O b. 145 O c. 175 O d. 180
-
Distributors add value to a supply chain between a supply stage and a customer stage if there is a small number of customers requiring a large amount of product. if there is a large number of...
-
Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in California. Management would like to better understand the behavior of the companys costs. One of...
-
George Caloz & Frres, located in Grenchen, Switzerland, makes prestige high-end custom watches in small lots. One of the companys products, a platinum diving watch, goes through an etching process....
-
Refer to the data for Archer Company in Exercise 56. Required: 1. Using the least-squares regression method, estimate a cost formula for shipping expense. 2. If you also completed Exercise 56,...
-
what ways does cognitive diversity contribute to more effective decision-making processes, and how can organizations leverage this to achieve competitive advantages in a globalized market ?
-
On January 1, 2020 Zappa Enterprises sold 8%, 20-year bonds with a face amount of $1,200,000 for $1,140,000. Interest is payable annually on January 1. Calculate the carrying value of the bond at...
-
2. The polynomial z+az + bz-65 has a factor of (-2-31) Find the values of the real constants and b.
Study smarter with the SolutionInn App