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Telstar uses job order costing. The T-accounts below summarize its production activity for the year. Raw Materials Inventory Debit 45,400 Credit 24,650 8,400 Factory Wages
Telstar uses job order costing. The T-accounts below summarize its production activity for the year. Raw Materials Inventory Debit 45,400 Credit 24,650 8,400 Factory Wages Payable Debit 126,400 Credit 86,150 40,650 Work in Process Inventory Finished Goods Inventory Debit Credit Debit Credit 24,650 86,150 170,720 170,720 153,690 103,084 Factory Overhead Debit Credit 8,400 103,084 40,650 61,770 1. Compute the amount for each of the following a. Direct materials used b. Indirect materials used c. Direct labor used d. Indirect labor used e. Cost of goods manufactured f. Cost of goods sold (before closing over- or underapplied overhead) 2. Compute the amount that overhead is overapplied or underapplied. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the amount for each of the following. a. Direct materials used b. Indirect materials used c. Direct labor used d. Indirect labor used e. Cost of goods manufactured f Cost of goods sold (before closing over- or underapplied overhead)
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