Question
Selected T-accounts for Moore Company are given below for the just completed year: Raw Materials Manufacturing Overhead Bal. 1/1 32,000 Credits? Debits216,000 Credits? Debits 400,000
| Selected T-accounts for Moore Company are given below for the just completed year: |
| Raw Materials | Manufacturing Overhead |
| Bal. 1/1 32,000 | Credits? | Debits216,000 | Credits? | |||
| Debits 400,000 |
| |||||
| Bal. 12/3155,000 |
| Work in Process | Factory Wages Payable |
| Bal. 1/1 77,000 | Credits 500,000 | Debits 178,000 | Bal. 1/110,000 | |||
| Direct materials322,000 | Credits177,000 | |||||
| Direct labor152,000 | Bal. 12/319,000 | |||||
| Overhead258,400 | ||||||
| Bal. 12/31 ? |
| Finished Goods | Cost of Goods Sold |
| Bal. 1/1 50,000 | Credit ? | Debits ? | ||||
| Debits ? |
| |||||
| Bal. 12/31 135,000 |
|
QUESTION:
| Compute the ending balance in the Work in Process inventory account. Assume that this balance consists entirely of goods started during the year. If $32,200 of this balance is direct labor cost, how much of it is direct materials cost? Manufacturing overhead cost? |
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Management Accounting
Authors: Late RC Sekhar, AV Rajagopalan
1st Edition
195683609, 978-0195683608
