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help Perdew Corporation incurred the following transactions during the period. All beginning balances are 0. A. Paid cash to purchase Raw Materials worth $46,300 B.
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Perdew Corporation incurred the following transactions during the period. All beginning balances are 0. A. Paid cash to purchase Raw Materials worth $46,300 B. Raw materials of $36,000 were requisitioned to the factory. $6,800 were indirect materials the remainder were direct materials. C. Factory labor costs incurred were $55.900, time tickets indicated that $50,000 was for direct labor and $5,900 was for indirect labor. D. Manufacturing overhead costs incurred were $80,500. (These are the actual costs.) E. Manufacturing overhead was applied at a rate of 150% of direct labor cost. F. Goods costing $88.000 were completed and transferred to finished goods. G. Finished goods costing $75,000 to manufacture were sold to customers. H. Close the MOH account to COGS. Required: Demonstrate that you understand how costs flow through the accounting system by posting to t-accounts or use the columnar method to post each of these transactions to the following accounts (identify the transaction by letter next to the amount): Raw Materials (RM) Work in Process (WIP) Finished Goods (FG) Manufacturing Overhead Control Account (MOH) Cost of Goods Sold (COGS) You may add additional accounts if it helps you but I will only grade the entries to the listed accounts Step by Step Solution
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