Assigning Costs- Missing Data: The following T-accounts are to be completed with the missing information. Addi- tional data appear after the accounts.

1. Materials of $56,800 were purchased during the month, and the balance in the inventory account increased by $5,500.

2. Overhead is applied at the rate of 150 percent of direct labor cost.

3. Sales are billed at 80 percent over the normal cost of the jobs to which the sales relate.

4. The balance in finished goods inventory decreased by $14,300 during the month.

5. Total credits to the Wages Payable account amounted to $101,000. All credits in this account are related to the manufacturing plant.

6. Factory depreciation totaled $24,100.

7. Overhead was underapplied by $12.540. All other charges for overhead incurred required payment in cash. Underapplied overhead is to be prorated.

8. The company has decided to allocate 25 percent of underapplied overhead to work in process inventory. 15 percent to finished goods inventory, and the balance to cost of goods sold. Balances shown in T-accounts are before prora- tion.

Required: Complete the T-accounts.

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Materials Inventory EB 9/30 28,200 EB 9/30 Finished Goods Inventory 50,500 BB 9/1 Direct Work in Process Inventory 16,300 Materials 43,100 Cost of Goods Sold Manufacturing Overhead Manufacturing Overhead Applied (Actual) 132,000 Wages Payable Sales Revenue 362,700