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All questions must be answered in this Excel file and referencing B D E F G H | K L M N O 1 Selected
All questions must be answered in this Excel file and referencing
B D E F G H | K L M N O 1 Selected ledger accounts for Serenade Processing Company are 2 given below for the year ended October 31, 2021: J N Required: You have the option of doing some or all of your calculations with the use of the above t-accounts, or cell reference your calculations directly to the amounts provided within the t-accounts. 3 4. Raw Materials 1 What was the cost of indirect materials put into production during the year? 5 $ Open Debits 20,000 630,000 6 ? Credits 2 What was the cost of goods manufactured for the year? 7 8 Close $ 45,560 3 How much of the factory labour cost for the year consisted of indirect labour? 9 10 4 What was the balance in the manufacturing overhead account? Was manufacturing overhead underapplied or overapplied? 11 Open Direct materials 12 WIP - Mixing Department $ 50,000 330,000 ? Credits 200,000 400,000 $ 120,000 13 5 What was the cost of goods sold for the year (before considering underapplied or overapplied overhead)? 14 Direct labour Applied Overhead Close 15 16 17 WIP - Finishing Department $ 60,000 18 Open Trancforrad in 10 A B B D E F G . 16 17 18 19 20 WIP - Finishing Department Open $ 60,000 Transferred in ? Direct materials 200,000 ? Credits Direct labour 120,000 Applied Overhead 240,000 Close $ 120,580 21 22 23 24 25 26 $ Open Debits Finished Goods 40,000 ? 27 ? Credits Close $ 130,000 28 29 30 Manufacturing Overhead $ 685,200 ? Credits 31 Debits 32 33 Close Close 34 35 36 Factory Wages Payable $ 10,000 Open 389,000 382,120 Credits 37 Debits 38 39 40 2 Close 41 42 Cost of Goods Sold 43 $ 44 Open Debits Close ? 45 46 47 48Step by Step Solution
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