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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 46,400 25,650 9,400 Factory
Telstar uses job order costing. The T-accounts below summarize its production activity for the year. Raw Materials Inventory Debit Credit 46,400 25,650 9,400 Factory Mages Payable Debit 127,400 Credit 87,150 41,650 Work in Process Inventory Finished Goods Inventory Debit 25,650 87,150 Credit Debit Credit 171,720 171,720 154,690 104,084 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 9,400 104,084 41,650 62,770 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) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the amount that overhead is overapplied or underapplied. Overapplied overhead Underapplied overhead
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