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Manufacturing Cost Flows with Machine Hours Allocation

On April 1, Telecom Manufacturing Company's beginning balances in manufacturing accounts and finished goods inventory were as follows: Raw Materials $35,000 Manufacturing Supplies 3,500 Work-in-Process 12,000 Manufacturing Overhead 0 Finished Goods 50,000 During April, Telecom Manufacturing completed the following manufacturing transactions: 1. Purchased raw materials costing $60,000 and manufacturing supplies costing $2,000 on account. (Single Transaction) 2. Requisitioned raw materials costing $52,000 to the factory. 3. Incurred direct labor costs of $18,000 and indirect labor costs of $6,500. 4. Used manufacturing supplies costing $3,800. 5. Recorded manufacturing depreciation of $11,000. 6. Miscellaneous payables for manufacturing overhead totaled $8,500. 7. Applied manufacturing overhead, based on 2,500 machine hours, at a predetermined rate of $10 per machine hour. 8. Completed jobs costing $90,500. 9. Finished goods costing $95,750 were sold. (a) Prepare "T" accounts showing the flow of costs through all manufacturing accounts, Finished Goods Inventory, and Cost of Goods Sold. (b) Calculate the balances at the end of April for Work-in-Process Inventory and Finished Goods Inventory. Enter transactions in the T-accounts in the order they appear using the first available answer box on the appropriate side.

Raw Materials Inventory Bal. 35,000 Answer Answer Answer

Work-in-Process Inventory Bal. 12,000 Answer Answer Answer Answer Answer Answer Answer Bal. Answer Answer

Finished Goods Inventory Bal. 50,000 Answer Answer Answer Answer Answer Bal. Answer Answer

Cost of Goods Sold Answer Answer

Accumulated Depreciation- Factory Assets Answer Answer Accounts

Payable Answer Answer Answer Answer Wages Payable Answer Answer

Other Payables Answer Answer

Manufacturing Supplies Bal. 3,500 Answer Answer Answer

Manufacturing Overhead Bal. 0 Answer Answer Answer Answer Answer Answer Answer Answer Answer

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