The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year: Raw Materials Debit Credit Beginning Balance 4,750 8,500 4,950 Work in Process Debit Credit Beginning Balance 3,850 21,950 5,950 8,250 8,050 Finished Goods Debit Credit Beginning Balance 1,950 20,150 21,950 Manufacturing Overhead Debit Credit 2,550 8,050 3,250 2,950 Wages & Salaries Payable Debit Credit 20,150 Beginning Balance 2,250 11,500 Cost of Goods Sold Debit Credit 20,150 The manufacturing overhead applied was: Multiple Choice $2,950 $3,250 $8,050 $14,200
The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year: Raw Materials Debit Credit Beginning Balance 4,750 8,500 4,950 Work in Process Debit Credit Beginning Balance 3,850 21,950 5,950 8,250 8,050 Finished Goods Debit Credit Beginning Balance 1,950 20,150 21,950 Manufacturing Overhead Debit Credit 2,550 8,050 3,250 2,950 Wages & Salaries Payable Debit Credit 20,150 Beginning Balance 2,250 11,500 Cost of Goods Sold Debit Credit 20,150 The manufacturing overhead applied was: Multiple Choice $2,950 $3,250 $8,050 $14,200
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 12PA: The following data summarize the operations during the year. Prepare a journal entry for each...
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The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year:
Raw Materials | |||
---|---|---|---|
Debit | Credit | ||
Beginning Balance | 4,750 | 8,500 | |
4,950 | |||
Work in Process | |||
---|---|---|---|
Debit | Credit | ||
Beginning Balance | 3,850 | 21,950 | |
5,950 | |||
8,250 | |||
8,050 | |||
Finished Goods | |||
---|---|---|---|
Debit | Credit | ||
Beginning Balance | 1,950 | 20,150 | |
21,950 | |||
Manufacturing |
|||
---|---|---|---|
Debit | Credit | ||
2,550 | 8,050 | ||
3,250 | |||
2,950 | |||
Wages & Salaries Payable | |||
---|---|---|---|
Debit | Credit | ||
20,150 | Beginning Balance | 2,250 | |
11,500 | |||
Cost of Goods Sold | |||
---|---|---|---|
Debit | Credit | ||
20,150 | |||
The manufacturing overhead applied was:
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