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I need help filling out the manufacturing overhead and cost of goods sold. Im confused a. $76,800 in raw materials were purchased for cash. b.
I need help filling out the manufacturing overhead and cost of goods sold. Im confused
a. $76,800 in raw materials were purchased for cash. b. $71,500 in raw materials were used in production. Of this amount, $65,700 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $152,900 were incurred and paid. Of this amount, $134,900 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $125,800 were incurred and paid. e. Manufacturing overhead of $127,600 was applied to production using the company's predetermined overhead rate. f. All of the jobs in process at the end of the month were completed. g. All of the completed jobs were shipped to customers. h. Any underapplied or overapplied overhead for the period was closed to Cost of Goods Sold. Required: 1. Post the above transactions to T-accounts. 2. Determine the adjusted cost of goods sold for the period. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the above transactions to T-accounts. Cash Raw Materials Credit Debit Credit Debit Beginning Balance 0 Beginning Balance 0 76,800 76,800 152,900 125,800 71,500 Ending Balance 355,500 Ending Balance 5,300 Work in Process Finished Goods Credit Credit Debit Beginning Balance Debit Beginning Balance 0 0 328,200 328,200 328,200 65,700 134,900 127,600 Ending Balance Ending Balance Cost of Goods Sold Manufacturing Overhead Debit Beginning Balance 0 Credit Credit Debit Beginning Balance 0 328,200 125,800 Ending Balance 125,800 Ending Balance 328,200Step by Step Solution
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