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Telstar uses job order costing. The T-accounts below summarize its production activity for the year. Raw Materials Inventory Factory Mages Payable Debit 45,700 Credit
Telstar uses job order costing. The T-accounts below summarize its production activity for the year. Raw Materials Inventory Factory Mages Payable Debit 45,700 Credit 24,950 8,700 Debit 126,700 Credit 86,450 40,950 Factory Overhead Work in Process Inventory Debit Credit Debit Credit 8,700 103,384 24,950 171,020 40,950 86,450 62,070 103,384 Finished Goods Inventory Debit 171,020 Credit 153,990 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 1. 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) Required 1 Required 2 >
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