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The following information is available for a custom manufacturer. Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured
The following information is available for a custom manufacturer. Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured Cost of goods sold (not considering over- or $ 39,100 13,500 9,850 96,390 Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) Indirect materials used underapplied overhead) 84,300 Sales 101,100 Indirect labor used Predetermined overhead rate based on direct materials Other overhead costs used 90% 1. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. 2. Compute overapplied or underapplied overhead. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. Beginning Purchases Raw Materials Inventory 39,100 45,450 19,560 10,400 Indirect materials Ending 2,810 Finished Goods Inventory 0 Work in Process Inventory $ 19,560 45,450 23,980 10,400 17,500 5,400
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