The following T-accounts represent November activity.

Materials Inventory
EB (11/30)	57,300

Work-In-Process Inventory
BB (11/1)	32,100
Dir.Materials	87,200

Finished Goods Inventory
EB (11/30)	98,000

Cost of Goods Sold

Manufacturing Overhead Control

Applied Manufacturing Overhead
		258,000

Wages Payable

Sales Revenue
		769,500

Additional Data

• Materials of $112,200 were purchased during the month, and the balance in the Materials Inventory account increased by $10,300.
• Overhead is applied at the rate of 150 percent of direct labor cost.
• Sales are billed at 190 percent of cost of goods sold before the over- or underapplied overhead is prorated.
• The balance in the Finished Goods Inventory account decreased by $28,600 during the month before any proration of under- or overapplied overhead.
• Total credits to the Wages Payable account amounted to $204,000 for direct and indirect labor.
• Factory depreciation totaled $42,440.
• Overhead was underapplied by $25,580. Overhead other than indirect labor, indirect materials, and depreciation was $194,440, which required payment in cash. Underapplied overhead is to be allocated.
• The company has decided to allocate 20 percent of underapplied overhead to Work-in-Process Inventory, 10 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. Not all amount fields to be populated have accompanying descriptions.

Required: Complete the T-accounts. Not all amount fields to be populated have accompanying descriptions. Materials Inventory Beg. Bal. (11/1) Purchases Work-in-Process Inventory 32.100 87,200 Direct materials Indirect materials Beg. Bal. (11/1) Direct materials Direct labor Overhead applied Bal. End. Bal. (11/30) 57,300 119,300 End. Bal. (11/30) 119,300 Finished Goods Inventory Cost of Goods Sold Beg. (11/1) Beg. Bal. (11/1) Bal. 98,000 End. Bal. (11/30) 98,000 End. Bal. (11/30) Manufacturing Overhead Control Applied Manufacturing Overhead 258,000 Beg. Bal. (11/1) Beg. Bal. (11/1) Indirect materials End. Bal. (11/30) 258,000 End. Bal. (11/30) Wages Payable Sales Revenue Beg. Bal. (11/1) Beg. Bal. (11/1) 769,500 Direct labor End. Bal. (11/30) 769,500 End. Bal. (11/30)