Prepare T-accounts for the following accounts: Direct Materials Inventory, Work in Process Inventory, ManufacturingOverhead Control, and Finished Goods Inventory. Record the transactions from part (a) in the T-accounts and calculateending account balances. Assume the following beginning account balances (Post entriesorder presented in theproblem):AccountBalanceDirect Materials Inventory$36,000Work in Process Inventory$24,000Finished Goods Inventory$48.000Manufacturing OverheadBl.Finished Goods InventoryBal.48000Bal.DOD Account Titles and ExplanationDebitCreditDirect Materials Inventory583000Accounts Payable58300(To record purchase of direct materials)Manufacturing Overhead132000(10 recora appiiea manuracturing overnead)Supplies Inventory132007.Finished Goods Inventory2410000(To record use of indirect materials in production)Work in Process Inventory569000Work in Process Inventory24100056900(To record transfer of completed goods to Finished GoodsInventory)Direct Materials Inventory(To record use of direct materials in production)8.Cost of Goods Sold2398000Work in Process Inventory791000Wages Payable79100Finished Goods Inventory239800(To record direct labor payroll)(To record cost of goods sold for the period)Manufacturing Overhead690000Accounts Payable690001(To record actual manufacturing overhead)Work in Process Inventory1071000Manufacturing Overhead107100

T accounts are the account wise ledgers in which financial transactions are posted.

Prepare T-accounts for the following accounts: Direct Materials Inventory, Work in Process Inventory, Manufacturing Overhead Control, and Finished Goods Inventory. Record the transactions from part (a) in the T-accounts and calculate ending account balances. Assume the following beginning account balances (Post entries in order presented in the problem):. Account Balance Direct Materials Inventory $36,000 Work in Process Inventory $24,000 Finished Goods Inventory $48,000 Manufacturing Overhead Bal. Finished Goods Inventory Bal 48000 Bl.

Prepare T-accounts for the following accounts: Direct Materials Inventory, Work in Process Inventory, Manufacturing Overhead Control, and Finished Goods Inventory. Record the transactions from part (a) in the T-accounts and calculate ending account balances. Assume the following beginning account balances (Post entries in order presented in the problem):. Account Balance Direct Materials Inventory $36,000 Work in Process Inventory $24,000 Finished Goods Inventory $48,000 Manufacturing Overhead Bal. Finished Goods Inventory Bal 48000 Bl.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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