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Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured Cost of goods sold (not considering over- or underapplied overhead) Sales Predetermined overhead rate based on direct materials used Required 1 Required 2 Beginning Purchases 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. Ending Beginning Ending Raw Materials Inventory 38,000✔ ✓ ✔ 18,460 $ 38,000 12,400 8,750 95,290 Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. ✓ 3,910 83,200 100,000 80% Finished Goods Inventory ✔ 8,750✔ ✓ 20,840 Costs incurred for the period. Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) 43.250✔ Direct materials 9,300 Indirect materials Indirect materials used Indirect labor used Other overhead costs 95,290✔ 83.200✔ Cost of goods sold ✓ X Answer is not complete. ✓ Beginning Direct materials Direct labor Overhead applied Ending < Required 1 ✔ ✓ ✓ ✓ ✓ Work in Process Inventory 12,400✓✔ 43,250✔ 22,800✔ 34,600✔ 17.760 Required 2 > $ 18,460 43,250 22,800 9,300 16,400 4,300 95,290✔ Cost of goods manufactured

Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured Cost of goods sold (not considering over- or underapplied overhead) Sales Predetermined overhead rate based on direct materials used Required 1 Required 2 Beginning Purchases 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. Ending Beginning Ending Raw Materials Inventory 38,000✔ ✓ ✔ 18,460 $ 38,000 12,400 8,750 95,290 Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. ✓ 3,910 83,200 100,000 80% Finished Goods Inventory ✔ 8,750✔ ✓ 20,840 Costs incurred for the period. Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) 43.250✔ Direct materials 9,300 Indirect materials Indirect materials used Indirect labor used Other overhead costs 95,290✔ 83.200✔ Cost of goods sold ✓ X Answer is not complete. ✓ Beginning Direct materials Direct labor Overhead applied Ending < Required 1 ✔ ✓ ✓ ✓ ✓ Work in Process Inventory 12,400✓✔ 43,250✔ 22,800✔ 34,600✔ 17.760 Required 2 > $ 18,460 43,250 22,800 9,300 16,400 4,300 95,290✔ Cost of goods manufactured

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 12E: a. Based on the data in Exercise 17-11, determine the following: 1. Cost of beginning work in...
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Also, for Required part 2 the answer is "Overapplied Overhead at $4600" 

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 underapplied overhead) Sales Predetermined overhead rate based on direct materials used Required 1 Required 2 Beginning Purchases 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. Ending Beginning Ending $ 38,000 12,400 8,750 95,290 ✓ 83,200 100,000 Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. Raw Materials Inventory ✓ 38,000✔ 18,460 ✓✔ 3,910 80% 20,840 Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) 43.250✔ Direct materials 9.300✓ Indirect materials Indirect materials used Indirect labor used. Other overhead costs. Finished Goods Inventory ✓ 8,750✔ 95,290✔ 83,200✔ Cost of goods sold ✔ ✔ X Answer is not complete. ✓ Beginning Direct materials Direct labor Overhead applied Ending < Required 1 ✓ ✓ ✓ ✓ ✓ Work in Process Inventory 12,400✔ 43.250 22,800✔ 34,600✔ 17,760 Required 2 > $18,460 43,250 22,800 9,300 16,400 4,300 95.290 Cost of goods manufactured
Transcribed Image Text: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 underapplied overhead) Sales Predetermined overhead rate based on direct materials used Required 1 Required 2 Beginning Purchases 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. Ending Beginning Ending $ 38,000 12,400 8,750 95,290 ✓ 83,200 100,000 Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. Raw Materials Inventory ✓ 38,000✔ 18,460 ✓✔ 3,910 80% 20,840 Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) 43.250✔ Direct materials 9.300✓ Indirect materials Indirect materials used Indirect labor used. Other overhead costs. Finished Goods Inventory ✓ 8,750✔ 95,290✔ 83,200✔ Cost of goods sold ✔ ✔ X Answer is not complete. ✓ Beginning Direct materials Direct labor Overhead applied Ending < Required 1 ✓ ✓ ✓ ✓ ✓ Work in Process Inventory 12,400✔ 43.250 22,800✔ 34,600✔ 17,760 Required 2 > $18,460 43,250 22,800 9,300 16,400 4,300 95.290 Cost of goods manufactured
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