Below are partially completed T-Accounts: Materiale Inventory Bal. 11-1 indirect mati Bal. 11-30 57,200 Work in Process Inventory 32,000 85,800 Bal. 11-1 Direct mati jobs completed Balance 11-30 Proration of MOH Balance 11-30 Finished Gooda Inventory Bal. 11-1 Goods sold 103,000 Balance 11-30 Proration of MOH Balance 11-30 Cost of goods sold Proration of MOH Balance 11-30 Manuf. OH Control indirect labor indirect mati Balance Applied Manul. OH 259,500 Sale 730,800 Wages payable Direct labor Indirect labor Additional info A. Materials of $114,500 were purchased during the month, and the balance in the Materials Inventory account increased by $11,600. B. Overhead is applied at the rate of 150 percent of direct labor cost. C. Sales are billed at 180 percent of cost of goods sold before the over- or underapplied overhead is prorated. D. The balance in the Finished Goods Inventory account decreased by $29,000 during the month before any proration of under-or overapplicd overhead. E. Total credits to the Wages Payable account amounted to $199,000 for direct and indirect labor. F. Factory depreciation totaled $40,830. G. Overhead was underapplied by $24,820. Overhead other than indirect labor, indirect materials, and depreciation was $200,390, which required payment in cash. Underapplied overhead is to be allocated. H. The company has decided to allocate 25 percent of underapplied overhead to Work-in-Process Inventory, 20 percent to Finished Goods Inventory, and the balance to Cost of Goods Sold. Balances shown in T- accounts are before any allocation. REQUIRED: Complete the amounts and descriptions in the T-accounts indicated in light orange. Below are partially completed T-Accounts: Materiale Inventory Bal. 11-1 indirect mati Bal. 11-30 57,200 Work in Process Inventory 32,000 85,800 Bal. 11-1 Direct mati jobs completed Balance 11-30 Proration of MOH Balance 11-30 Finished Gooda Inventory Bal. 11-1 Goods sold 103,000 Balance 11-30 Proration of MOH Balance 11-30 Cost of goods sold Proration of MOH Balance 11-30 Manuf. OH Control indirect labor indirect mati Balance Applied Manul. OH 259,500 Sale 730,800 Wages payable Direct labor Indirect labor Additional info A. Materials of $114,500 were purchased during the month, and the balance in the Materials Inventory account increased by $11,600. B. Overhead is applied at the rate of 150 percent of direct labor cost. C. Sales are billed at 180 percent of cost of goods sold before the over- or underapplied overhead is prorated. D. The balance in the Finished Goods Inventory account decreased by $29,000 during the month before any proration of under-or overapplicd overhead. E. Total credits to the Wages Payable account amounted to $199,000 for direct and indirect labor. F. Factory depreciation totaled $40,830. G. Overhead was underapplied by $24,820. Overhead other than indirect labor, indirect materials, and depreciation was $200,390, which required payment in cash. Underapplied overhead is to be allocated. H. The company has decided to allocate 25 percent of underapplied overhead to Work-in-Process Inventory, 20 percent to Finished Goods Inventory, and the balance to Cost of Goods Sold. Balances shown in T- accounts are before any allocation. REQUIRED: Complete the amounts and descriptions in the T-accounts indicated in light orange
