urvin Enterprises is a manufacturing company that had no beginning Inventorles. A subset of the transactions that It recorded during a ecent month Is shown below. a. $94,000 in raw materials were purchased for cash. . $89,000 in raw materials were used in production. Of this amount, $78,000 was for direct materials and the remalnder was for Indirect materials. - Total labor wages of $132,000 were Incurred and paid. Of this amount, $112,000 was for direct labor and the remalnder was for Indirect labor. 1. Additional manufacturing overhead costs of $143,000 were incurred and pald. e. Manufacturing overhead of $152,000 was applied to production using the company's predetermined overhead rate. f. All of the jobs in process at the end of the month were completed. 1. All of the completed jobs were shipped to customers. 1. Any underapplied or overapplied overhead for the perlod was closed to Cost of Goods Sold. equlred: Post the above transactions to T-accounts. - Determine the adjusted cost of goods sold for the perlod. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the above transactions to T-accounts.
urvin Enterprises is a manufacturing company that had no beginning Inventorles. A subset of the transactions that It recorded during a ecent month Is shown below. a. $94,000 in raw materials were purchased for cash. . $89,000 in raw materials were used in production. Of this amount, $78,000 was for direct materials and the remalnder was for Indirect materials. - Total labor wages of $132,000 were Incurred and paid. Of this amount, $112,000 was for direct labor and the remalnder was for Indirect labor. 1. Additional manufacturing overhead costs of $143,000 were incurred and pald. e. Manufacturing overhead of $152,000 was applied to production using the company's predetermined overhead rate. f. All of the jobs in process at the end of the month were completed. 1. All of the completed jobs were shipped to customers. 1. Any underapplied or overapplied overhead for the perlod was closed to Cost of Goods Sold. equlred: Post the above transactions to T-accounts. - Determine the adjusted cost of goods sold for the perlod. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the above transactions to T-accounts.
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...
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