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Need help on accounting question Required information [ the (ollowing information applies to the questio isp/ Information on Kwon Manufacturing's activities for 'its first mon
Need help on accounting question
Required information [ the (ollowing information applies to the questio isp/ Information on Kwon Manufacturing's activities for 'its first mon of obertions foliows:p a. Purchased $100,600 of raw materials on credit b. Materials requisitions show the following materials Job 201 Job 202 Total direct materials Indirect materials Total materials used $ 48,800 24, 2 73, 9 220 $ 823220 c. Time tickets show the following labor used for them Job 201 Job 202 Total direct labor Indirect Jabor Total labor used $ 39,800 13 53, 24, $ 77,800 d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead r?te of 900/000f direct materials cost e. Transferred Job 201 to Finished Goods Inventory f. sold Job 201 for $165,560 on credit g. Incurred the following actual other overhead costs for the month- Depreciation of factory equipment Rent on factory building (payable) Factory utilities (payable) Expired factory insurance Total other factory overhead costs $ 32,600 560 86 3,6 $ 37,620 Post entries for transactions a through g to the T-accounts. Each of T-accounts started the month with a zero balance. Raw Materials Inventory Beginning Balance .100.600 xpxred factory insurance Total other factory overhead costs Work in Process Inventory Beginning Balance Eiiijiii"l/ffti $ 37,620 Post entries for transactions a through g to the T-accounts- Each of T-accounts started the month with a zero balance Beginning Balance Ending 'balance Beginning Balance Raw Materials Invento 100,600 18,380 Factory Overhead 73,000 9,220 Work in Process Invento Beginning Balance 73,000 53,000 126,000 Ending balance Finished Goods Invento Beginning Balance Ending balance Ending balance Cost of Goods Sold Beginning Balance Ending,balance,
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