q17

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ron QUESTION I7 $ 18 a b. C. d. e. f ration below to answer dve following two questions. You must saw you work in the to receive credit a directly to Cost of Goods Sold the end of each period. Winning balances from the Shot on the first day of de perioden A company uses a toma cosng system to Count for jobs it produces and clones y over under upplementing over in the table below. The table uses the following abbreviations: RM - Raw Materials Inventory WIP - Work in Process Inventory AP - Accounts Payable FG -Finished Goods Inventory RE-Retained Earnings MOH - Manufacturing Overhead Beg - Beglening Balance PP&E - Property, Plant & Equipment End - Ending Balance A summary of transactions completed during the period are shown below to S1000: Raw materials purchased on account Raw materials used in production (75% were direct, the remainder indirect Salaries & wages paid in cash (70% direct: 10% indirect, 20% selling & Admin) Depreciation on PP&E (90% manufacturing the remainder selling & Admin) Factory utility expenses paid on account Advertising expenses paid in crash Manufacturing overhead applied to production Cost of goods manufactured Cash sales to customers Cost of goods sold (unadjusted) k Under-applied or over-applied overhead closed entirely to Cost of Goods Sold 71 80 100 10 8 24 h. 14 i. 59 7 j 269 .? ? To answer the following two questions, enter the numbers relevant for each calculation into the table below using positive numbers to designate increases to an account balance and negative numbers to designate decreases. The ending balances of the Work in Process and Finished Goods Inventory accounts are provided in the table. Cash RM WIP RE FG MOH PP&E A/P $42 S12 $18 $19 $304 $0 S240 $19 IL b. Beg c. d. c. f B. h. 1 J. k. End $21 S11 17 For the period, Cost of Goods Manufactured (transaction h. in the table) was: A. B. C. D. E $194 $186 $207 $189 None of the above is correct