The following T-accounts represent November activity. Materials Inventory 55,400 Work-In-Process Inventory Finished Goods Inventory EB (11/30) 103,000 Applied Manufacturing Overhead EB (11/30) 86 300 Dir Mat Cost of Goods Sold Manufacturing Overhead Control 264,000 Wages Payable Sales Revenue 802.000 Additional Data (a) Materials of $115,000 were purchased during the month, and the balance in the Materials Inventory account (b) Overhead is applied at the rate of 150 percent of direct labor cost. underapplied overhead is prorated. (c) Sales are billed at 200 percent of cost of goods sold before the over- (d) The balance in the Finished Goods Inventory account decreased by $29,000 during the month before any proration funder- or overapplied overhead. (e) Total credits (f) Factory depreciation totaled verbead other than indirect labor, indirect materials, and depreciation (g) was $202,400, which required payment in cash. Underapp read to Work-in-Process Inventory, 15 the Wages Payable account amounted to $201,000 for direct and indirect labor. overhead is to be allocated. has decided to allocate 25 percent of und percent to Finished Goods Inventory, and the balance to Cost of Goods Sold. Balances shown in T-accounts are before any allocation. Required: Complete the T-accounts. Materials Inventory Work-in-Process Inventory 32,000 Beg. bal. (11/1) Purchases Beg. bal. (11/1) Direct materials 86,300 55,400 End. bal End. bal. (11/30) 118.300 End. bal. (11/30) 118,300 Finished Goods Inventory Cost of Goods Sold Beg. bal. (11/1) Beg. bal. (11/1) End.bal 103,000 End. bal. (11/30) 103.000 End. bal. (11/30) Manufacturing Overhead Control Applied Manufacturing Overhead Beg. bal. (11/1) Beg. bal. (11/1) 264,000 End. bal. (11/30) 264,000 End. bal. (11/30) Sales Revenue Wages Payable Beg. bal. (11/1) 802,000 Beg. bal. (11/1) End. bal. (11/30) 802,000 End. bal. (11/30) The following T-accounts represent November activity. Materials Inventory 55,400 Work-In-Process Inventory Finished Goods Inventory EB (11/30) 103,000 Applied Manufacturing Overhead EB (11/30) 86 300 Dir Mat Cost of Goods Sold Manufacturing Overhead Control 264,000 Wages Payable Sales Revenue 802.000 Additional Data (a) Materials of $115,000 were purchased during the month, and the balance in the Materials Inventory account (b) Overhead is applied at the rate of 150 percent of direct labor cost. underapplied overhead is prorated. (c) Sales are billed at 200 percent of cost of goods sold before the over- (d) The balance in the Finished Goods Inventory account decreased by $29,000 during the month before any proration funder- or overapplied overhead. (e) Total credits (f) Factory depreciation totaled verbead other than indirect labor, indirect materials, and depreciation (g) was $202,400, which required payment in cash. Underapp read to Work-in-Process Inventory, 15 the Wages Payable account amounted to $201,000 for direct and indirect labor. overhead is to be allocated. has decided to allocate 25 percent of und percent to Finished Goods Inventory, and the balance to Cost of Goods Sold. Balances shown in T-accounts are before any allocation. Required: Complete the T-accounts. Materials Inventory Work-in-Process Inventory 32,000 Beg. bal. (11/1) Purchases Beg. bal. (11/1) Direct materials 86,300 55,400 End. bal End. bal. (11/30) 118.300 End. bal. (11/30) 118,300 Finished Goods Inventory Cost of Goods Sold Beg. bal. (11/1) Beg. bal. (11/1) End.bal 103,000 End. bal. (11/30) 103.000 End. bal. (11/30) Manufacturing Overhead Control Applied Manufacturing Overhead Beg. bal. (11/1) Beg. bal. (11/1) 264,000 End. bal. (11/30) 264,000 End. bal. (11/30) Sales Revenue Wages Payable Beg. bal. (11/1) 802,000 Beg. bal. (11/1) End. bal. (11/30) 802,000 End. bal. (11/30)
