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Assignment Results 1+ Question 3 (of 9) Award: 8.11 out of 11.11 points Exercise...

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Accounting

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Assignment Results 1+ Question 3 (of 9) Award: 8.11 out of 11.11 points Exercise 2-5 Prepare T-Accounts [LO2-5, LO2-7 ucin Enterpeins ecorded the folowing tansadions for the jst completed month The company had no beginning inventories a $94,000 in raw materials were purchased for cash b $89,000 in raw materials were requisitioned for use in production Of this amount $78,000 was for direct materials and the remainder was for indirect materials c. Total labor wages of $132,000 were incurred and paid Of this amount, $112,000 was for direct labor and the remainder was for indirect labor d. Additional manufacturing overhead costs of $143,000 were incurred and paid e Manufacturing overhead costs of $152,000 were applied to jobs using the company's predetermined overhead rate f All of the jobs in progress at the end of the month were completed and shipped to customers g Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold 1. Post the above transactions to T-accounts. Beg Bal Beg Bal $4,000 94,000 132 000 143,000 89.000 369,000 End Bal 5,000 End. Bal O t a Type here to search

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