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Need help with the following question, any help will be appreciated/ Manufacturing Cost Flows with Machine Hours Allocation On November 1, Robotics Manufacturing Company's beginning
Need help with the following question, any help will be appreciated/
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 Work-in-Process 500 5,000 Manufacuturing Overhead Finished Goods 0 25,000 During November, Robotics Manufacturing completed the following manufacturing transactions: 1. Purchased raw materials costing $60,000 and manufacturing supplies costing $3,000 on account. (Single Transaction) 2. Requisitioned raw materials costing $40,000 to the factory. 3. Incurred direct labor costs of $27,000 and indirect labor costs of $4,800. 4. Used manufacturing supplies costing $3,000. 5. Recorded manufacturing depreciation of $15,000. 6. Miscellaneous payables for manufacturing overhead totaled $3,600. 7. Applied manufacturing overhead, based on 2,050 machine hours, at a predetermined rate of $10 per machine hour. 8. Completed jobs costing $83,000. 9. 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 WorkinProcess Inventory and Finished Goods Inventory. Enter transactions in the Taccounts in the order they appear using the first available answer box on the appropriate side. Raw Materials Inventory 9,000 Bal Answer Answer Answer Raw Materials Inventory 9,000 Bal Answer Work-in-Process Inventory Bal Bal Answer 5,000 Answer Answer Answer Answer Answer Answer Answer Answer Finished Goods Inventory Bal Bal 25,000 Answer Answer Answer Answer Answer Cost of Goods Sold Answer Answer Accumulated Depreciation- Factory Assets Answer Answer Accounts Payable Answer Answer Wages Payable Answer Answer Other Payables Answer Answer Manufacturing Supplies Bal Answer 500 Manufacturing Overhead Bal 0Step by Step Solution
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