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can i please get help with this it is really confusing for me. The following T-accounts represent November activity. Adcitional Data - Materiais of $114,100
can i please get help with this it is really confusing for me.
The following T-accounts represent November activity. Adcitional Data - Materiais of $114,100 were purchased during the month, and the balance in the Materials Inventory account increased by $11,000. - Overhead is applied at the rate of 150 percent of direct labor cost. - Sales are billed at 180 percent of cost of goods sold before the over-or underapplied overhead is prorated. - The balance in the Finished Goods inventory account decreased by $27.700 during the month before any proration of under. or overapplied overhead. - Total credits to the Wages Payable account amounted to $200,000 for direct and indirect labor. - Factory depreciation totaled $56,650. - Overhead was underapplied by $24,860. Overhead other than indirect labor, indirect materlats, and depreciation was $197,210. which required payment in cash. Underapplied overhead is to be allocated - The company has decided to allocate 25 percent of underapplied overhead to Work-in-Process Inventory, 15 percent to Finished. Goods Inventory, and the balance to Cost of Goods Sold. Balances shown in T-accounts are before any ailocation. Required: Complete the T-accounts. Not all amount fieids to be populated have accompanying descriptions. Complete the T-accounts. Not all amount fields to be populated have accompanying descriptions Step by Step Solution
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