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3-19 please use the bottom t-account given to fill in the othwr parts of question. disregard the numbers, i just used to show the outline
3-19 please use the bottom t-account given to fill in the othwr parts of question. disregard the numbers, i just used to show the outline and questions i need help answering.
Complete the missing amounts and labels in the accounts clothe con to view the T-accounts) Bogn with the Work in Process-Cutting T-account, then completo each of the remaining T-accounts. (Abbreviations used: COGS - Cost of Goods Sold, FG = Finished Goods, WP Work in Process) Work in Process inventory-Cutting Balance May 1 0 (0) Transfer out to WP_Cutting Direct Materials 49.000 Direct Labor 12,000 Manufacturing Overhead 37.000 Balance, May 31 8.000 ga Vic Complete the missing amounts and labels in the T-accounts. (Click the icon to view the T-accounts.) in-1 -- Begin with the Work-in-Process-Cutting T-account, then complete each of the remaining T-accounts. (Abbreviations used: COGS = Cost of Goods Sold, FG = Finished Goods, WIP = Work-in-Process) Production costs are accumulated during each process and these costs are assigned to the products passing through the process. Recall that Work-in-Process (WIP) Inventory is an asset account. Debits to the T-account increase the account and credits decrease the account. As the costs related to cutting are accumulated, they increase the WIP-Cutting account. Once this process is complete, the assigned costs are transferred out of WIP-Cutting to the next process, WIP-Finishing. Go ahead and complete this T-account for this first process. Work-in-Process Inventory-Cutting Balance, May 1 Transfer out to Direct Materials 55,000 Direct Labor 11,000 Manufacturing Overhead 35,000 ea Skip Ahead Calculator Print Clear All Check Answer Soods Sold issing a on to Vi Complete the missing amounts and labels in the T-accounts (Click the icon to view the T-accounts.) Work-in-1 WIP - Direct Labor 11.000 Manufacturing Overhead 35,000 Balance, May 31 11,000 Work-in-Process Inventory-Finishing 13,000 130,000 Transfer out to 90,000 19,000 Balance, May 1 verhea Transfer in from WIP --Cutting Direct Materials Direct Labor Manufacturing Overhead Balance, May 31 16,000 12,000 Soods ++ en to Complete the missing amounts and labels in the (Click the icon to view the T-accounts.) Erk-in-t WIP - Direct Labor 4,000 Manufacturing Overhead 16,000 Balance, May 31 12,000 Work-in-Process Inventory-Packaging Balanco, May 1 9,000 Transfer out to verho Transfer in from WIP-Finishing 130,000 Direct Materials 9,000 Direct Labor 8,000 Manufacturing Overhead 7,000 Balance, May 31 63,000 Complete the missing amounts and labels in the T-accounts. Click the icon to view the T-accounts.) 100,000 Transfer out to FG Inventory Balance, May 1 Transfer in from WIP-Finishing Direct Materials Direct Labor - Manufacturing Overhead Balance, May 31 9,000 130,000 9,000 8,000 7,000 63,000 Finished Goods Inventory 10 Transfer out to 100,000 12,000 Balance, May 1 Transfer in from WIP-Packaging Balance, May 31 routt Calculator Skip Ahead Print Clear All Check Answer ga Vic Complete the missing amounts and labels in the T-accounts. (Click the icon to view the T-accounts.) int 7,000 Manufacturing Overhead Balance, May 31 63,000 Finished Goods Inventory 0 88,000 Transfer out to CC 100,000 Balance, May 1 Transfer in from WIP-Packaging mea Balance, May 31 12,000 Cost of Goods Sold 0 Balance, May 1 Transfer in from FG Inventory Balance, May 31 88,000 con to view the accounts.) od . More Info Work-in-Process Inventory--Cutting ola) Transfer out to 49,000 12,000 M Balance, May 1 Direct Materials Direct Labor Manufacturing Overhead Balance, May 31 37,000 8,000 Work-in-Process Inventory --Finishing 9.000 140,000 Transfer out to Balance, May 1 Transfer in from (b) Print Done o TE 789% A 3 More Info Direct Materials Direct Labor Manufacturing Overhead Balance, May 31 21,000 (C) 18,000 8,000 Work-in-Process Inventory-Packaging 6,000 (d) Transfer out to Balance, May 1 Transfer in from Direct Materials Direct Labor Manufacturing Overhead (e) 4,000 10,000 16 000 Print Done O 0 72 78% More Info 36,000 Balance, May 31 Finished Goods Inventory 0 () Transfer out to Balance, May 1 Transfer in from Balance, May 31 (9) 10,000 Cost of Goods Sold 0 Balance, May 1 Transfer in from (h) the T-accounts.) More Info Finished Goods Inventory Transfer out to 0 (0) Balance, May 1 Transfer in from Balance, May 31 (9) 10,000 Cost of Goods Sold 0 Balance, May 1 (h) Transfer in from Balance, May 31 0 Print Done 72 78% Step by Step Solution
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