Question
Manufacturing Cost Flows with Machine Hours Allocation On November 1, Robotics Manufacturing Company's beginning balances in manufacturing accounts and finished goods inventory were as follows:
Manufacturing Cost Flows with Machine Hours Allocation On November 1, Robotics Manufacturing Company's beginning balances in manufacturing accounts and finished goods inventory were as follows: Raw Materials $9,000 Manufacturing Supplies 500 Work-in-Process 5,000 Finished Goods 25,000 During November, Robotics Manufacturing completed the following manufacturing transactions: Purchased raw materials costing $60,000 and manufacturing supplies costing $3,000 on account. (Single Transaction) Requisitioned raw materials costing $40,000 to the factory. Incurred direct labor costs of $27,000 and indirect labor costs of $4,800. Used manufacturing supplies costing $3,000. Recorded manufacturing depreciation of $15,000. Miscellaneous payables for manufacturing overhead totaled $3,600. Applied manufacturing overhead, based on 2,050 machine hours, at a predetermined rate of $10 per machine hour. Completed jobs costing $83,000. Finished goods costing $98,000 were sold. (a) Prepare "T" accounts showing the flow of costs through all manufacturing accounts, Finished Goods Inventory, and Cost of Goods Sold. (b) Calculate the balances at the end of November for Work-in-Process Inventory and Finished Goods Inventory. (Enter transactions in the T-accounts in the order they appear, including the beginning balances, if available. Compute the final balance, if requested.) Raw Materials Inventory Answer Answer Answer Answer Bal Answer Answer Work-in-Process Inventory Answer Answer Answer Answer Answer Answer Answer Answer Bal Answer Answer Finished Goods Inventory Answer Answer Answer Answer Bal Answer Answer Cost of Goods Sold Answer Answer Answer Answer Bal Answer Answer Accumulated Depreciation- Factory Assets Answer Answer Answer Answer Bal Answer Answer Accounts Payable Answer Answer Answer Answer Bal Answer Answer Wages Payable Answer Answer Answer Answer Bal Answer Answer Other Payables Answer Answer Answer Answer Bal Answer Answer Manufacturing Supplies Answer Answer Answer Answer Bal Answer Answer Manufacturing Overhead Answer Answer Answer Answer Answer Answer Answer Answer Bal Answer Answer
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