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Requirement 3. Show posted T-accounts for all inventories, Cost of Goods Sold, Manufacturing Overhead Control, and Manufacturing Overhead Allocated. Post entries (1) through (11) to
Requirement 3. Show posted T-accounts for all inventories, Cost of Goods Sold, Manufacturing Overhead Control, and Manufacturing Overhead Allocated. Post entries (1) through (11) to the accounts below, then calculate the ending balance in each account. The beginning balances have been entered, now enter the apppropriate amounts into the T-accounts from the journal entries. (For accounts with a $0 balance leave the balance line blank.) Direct materials and supplies purchased on credit Direct materials used Indirect materials issued to various production departments Direct manufacturing labor Indirect manufacturing labor incurred by various production departments Depreciation on building and manufacturing equipment Miscellaneous manufacturing overhead* incurred by various production departments $ 830 710 160 1,350 910 460 (ordinarily would be detailed as repairs, photocopying, utilities, etc.) Manufacturing overhead allocated at 170% of direct manufacturing labor costs Cost of goods manufactured 560 ? 4,150 Revenues 8,100 Cost of goods sold (before adjustment for under- or overallocated manufacturing overhead) 4,040 Inventories, December 31, 2016 (not 2017): Materials Control 100 Work-in-Process Control 50 Finished Goods Control 580 Bal. Materials Control 100 Work-in-Process Control Bal. 50 Manufacturing Overhead Control Bal. Bal. Bal. Bal. Bal. Bal. Bal. Finished Goods Control 580 Cost of Goods Sold Manufacturing Overhead Allocated Bal. Bal. Bal. Bal. Bal. Bal
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