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prepare T-accounts for inventories, manufacturing overhead, and costs of goods sold. Post relevant data from your journal entries to these T-accounts. compute an ending balance
prepare T-accounts for inventories, manufacturing overhead, and costs of goods sold. Post relevant data from your journal entries to these T-accounts. compute an ending balance in each account:
GENERAL JOURNAL Entry Account Ref Explanation Posted Debit Credit 1 Raw Material Purchased 275,000 Cash 275,000 2 Work in Process $220,000 Manufacturing Overhead 560,000 Raw Material 280,000 3l Work in Process Manufacturing Overhead Sales Commission Admin Salaries Cash $180,000 572,000 563,000 590,000 405,000 4 Manufacturing Overhead 513,000 Rent Expense 55,000 Cash 518,000 5 Manufacturing Overhead 557,000 Cash 557,000 6 Advertising $140,000 Cash 5140,000 71 Depreciation Expense $100,000 Accumulated Depreciation factory operations Accumulated Depreciation selling and administrative activities 588,000 $12,000 8l Work in Process 297,000 Manufacturing Overhead Applied S297,000 Finished Goods 75000 Work in Process 875000 10l Cost of Goods Sold $700,000 Cash 550,000 Sales $1,250,000 GENERAL JOURNAL Entry Account Ref Explanation Posted Debit Credit 1 Raw Material Purchased 275,000 Cash 275,000 2 Work in Process $220,000 Manufacturing Overhead 560,000 Raw Material 280,000 3l Work in Process Manufacturing Overhead Sales Commission Admin Salaries Cash $180,000 572,000 563,000 590,000 405,000 4 Manufacturing Overhead 513,000 Rent Expense 55,000 Cash 518,000 5 Manufacturing Overhead 557,000 Cash 557,000 6 Advertising $140,000 Cash 5140,000 71 Depreciation Expense $100,000 Accumulated Depreciation factory operations Accumulated Depreciation selling and administrative activities 588,000 $12,000 8l Work in Process 297,000 Manufacturing Overhead Applied S297,000 Finished Goods 75000 Work in Process 875000 10l Cost of Goods Sold $700,000 Cash 550,000 Sales $1,250,000Step by Step Solution
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