Answer

Check Inventories Beginning of period End of Period Raw materials $ 30, 090 $ 40,900 Work in process 10, 000 20, 400 Finished goods 53, 090 33,100 Cost incurred for the period Raw materials purchases $ 195,000 Factory payroll 150, 000 Factory overhead (actual) Indirect materials used 9 ,000 Indirect labor used 34, 500 Other overhead costs 98 ,500 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the period. 2. Compute the cost of direct labor used for the period. 3. In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used (from part 1), direct labor used (from part 2), and applied overhead. Solve for cost of goods manufactured in the period. 4. In the Finished Goods Inventory T-account, insert amounts for beginning and ending balances along with cost of goods manufactured (from part 3). Solve for cost of goods sold in the period (do not consider any under- or overapplied overhead). 5. In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overhead costs, and applied overhead. Solve for underapplied or overapplied overhead. Complete this question by entering your answers in the tabs below