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Schoff Corporation has provided the following data for the most recent month: Raw materials, 10.100 beginning balance Work in process, beginning balance Finished goods, beginning
Schoff Corporation has provided the following data for the most recent month: Raw materials, 10.100 beginning balance Work in process, beginning balance Finished goods, beginning balance $22,800 $52,600 Transactions (1) Raw materials purchases $75,700 (2)Raw materials used in production (all 79 200 direct materials) (3) Direct labor $72,800 Manufacturing overhead costs (incurred $82,200 (5) Manufacturing overhead applied $76.000 Cost of units completed and (6)transferred from work in process to $231,000 finished goods Any overapplied or underapplied (7)manufacturing overhead is closed to cost of goods sold (8)Finished goods are sold $263,000 Required: Prepare T-accounts for Raw Materials, Work in Process, Finished Goods, Manufacturing Overhead, and Cost of Goods Sold. Record the beginning balances and each of the transactions listed above. Finally, determine the ending balances. (Record the transactions in the given order. Omit the "$" sign in your response.) Raw Materials Beg. bal (Click to select) (Click to select) End. bal Work in Process Beg. bal (Click to select) (Click to select) (Click to select) (Click to select) End. bal Finished Goods Beg. bal (Click to select) (Click to select) End. bal Manufacturing Overhead (Click to select) (Click to select) (Click to select) Cost of Goods Sold (Click to select) (Click to select) End. bal
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