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1. Show posted T-accounts for all inventories, Cost of Goods Sold, Manufacturing Overhead Control, and Manufacturing Overhead Allocated. 2. . How did the SRS Educational
1. Show posted T-accounts for all inventories, Cost of Goods Sold, Manufacturing Overhead Control, and Manufacturing Overhead Allocated.
2. . How did the SRS Educational Press perform in 2017? Should the company continue to have in-house press production?
SRS COST DATA Direct materials and supplies purchased on credit: $800 Direct materials used: $710 Indirect materials issued to various production departments: $100 Direct manufacturing labor: $1,300 Indirect manufacturing labor incurred by various production departments: $900 Depreciation on building and manufacturing equipment: $400 Miscellaneous manufacturing overhead incurred by various production departments: $550 o (Ordinarily, this would be detailed as repairs, photocopying, utilities, etc.) Manufacturing overhead allocated at 160% of direct manufacturing labor costs: ? Cost of goods manufactured: $4,120 Revenues: $8.000 Cost of goods sold (before adjustment for under- or overallocated manufacturing overhead): $4,020 Inventories. December 31, 2016 (not 2017): o Materials control: $100 o Work-in-process control: 560 o Finished goods control: $500Step by Step Solution
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