Leak Enterprises LLC recorded the following transactions for the just completed month. The company had...
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Leak Enterprises LLC recorded the following transactions for the just completed month. The company had no beginning inventories. Raw materials purchased for cash, $96,000 Direct materials requisitioned for use in production, $69,000 Indirect materials requisitioned for use in production, $22,000 Direct labor wages incurred and paid, $129,000 Indirect labor wages incurred and paid, $16,000 Additional manufacturing overhead costs incurred and paid, $121,000 Manufacturing overhead costs applied to jobs, $163,000 All of the jobs in process were completed. All of the completed jobs were shipped to customers. Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold. Use the following T-accounts to answer the following
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