The McCloud Company had the following inventories at the beginning and end of January:

During January, the cost of materials purchased was $138,000, and factory overhead of $90,000 was applied at a rate of 50% of direct labor cost. January cost of goods sold was $205,000.
Required:
Prepare completed T accounts showing the flow of the cost of goods manufactured and sold.

Transcribed Image Text:

January 1 $10,000 January 31 38,000 110,000 145,000 Work in Process. Finished Goods 50,000