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Directions: Arrange the below accounts in the cost flow orders, and determine the unknown numbers and the ending balances for each account. Close the overapplied
Directions: Arrange the below accounts in the cost flow orders, and determine the unknown numbers and the ending balances for each account. Close the overapplied or underapplied Factory Overhead to Cost of Goods Sold.
Factory Overhead
Indirect Materials | 96,200 |
Indirect Labor | 525,000 |
Factory Depreciation | 895,600 |
Factory Prepaid Expenses | 1,200,000 |
Factory Overhead Rate based on Direct Labor | 210% |
Finished Goods Inventory
Beginning Inventory | |
Transferred In | 3,110,600 |
Transferred Out | Unknown |
Ending Balance | Unknown |
Cost of Goods Sold
Beginning Balance | 620,000 |
Transferred In | 2,500,000 |
Ending Balance | Unknown |
Materials Inventory
Beginning Balance | 210,000 |
Purchases | Unknown |
Materials Used as Direct Materials | Unknown |
Materials Used as Factory Overhead | Unknown |
Ending Balance | 298,300 |
Wages Payable
Total Factory Payroll | 1,575,000 |
Direct Labor | Unknown |
Indirect Labor | Unknown |
Work In process Inventory
Beginning Balance | 75,600 |
Direct Materials | 805,000 |
Direct Labor | Unknown |
Factory Overhead | Unknown |
Transferred Out | Unknown |
Ending Balance | Unknown |
T Accounts
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