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Telstar uses job order costing. The T-accounts below summarize its production activity for the year. Raw Materials Inventory Debit Credit 45,200 24,450 8,200 Factory
Telstar uses job order costing. The T-accounts below summarize its production activity for the year. Raw Materials Inventory Debit Credit 45,200 24,450 8,200 Factory Wages Payable Debit Credit 126,200 85,950 40,450 Work in Process Inventory Debit Credit 24,450 170,520 85,950 102,884 Finished Goods Inventory Debit 170,520 Credit 153,490 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. Factory Overhead Debit Credit 8,200 102,884 40,450 61,570 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) Required 1 Required 2 Compute the amount that overhead is overapplied or underapplied.
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