Question 11

The following data (in thousands) summarize the factory operations of the Wahlberg Manufacturing Company for the year 20x1, its frst year in business: El (Click the icon to view the data.) Requirements 1. Prepare summary journal entries. Omit explanations. For purposes of this problem, combine the items in part d as "overhead incurred 2. Show the T-accounts for all inventories, Cost of Goods Sold, and Factory Department Overhead Control Compute the ending balances of the inventories. Do not adjust for underapplied or overapplied factory overhead Data Tabhe a Direct materials purchased for cash b Direct materials issued and used , Labor used drectly on production d1. Indirect labor 2 Depreciation of plant and equipment 3 Miscellaneous factory overhead (ordinanily would be detailed) 530 | 100 60 20 30 Overhead appled: 130% of drect labor Cos of producion compiste 9 Cost of goods sold 735 515