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TB Problem Qu. 3-242 Eppich Corporation has provided ... Eppich Corporation has provided the following...

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Accounting

imageTB Problem Qu. 3-242 Eppich Corporation has provided ...

Eppich Corporation has provided the following data for the most recent month:

Raw materials, beginning balance $ 16,500
Work in process, beginning balance $ 31,200
Finished Goods, beginning balance $ 49,200

Transactions:

(1) Raw materials purchases $ 79,900
(2) Raw materials used in production (all direct materials) $ 77,100
(3) Direct labor $ 51,200
(4) Manufacturing overhead costs incurred $ 88,500
(5) Manufacturing overhead applied $ 71,200
(6) Cost of units completed and transferred from Work in Process to Finished Goods $ 190,000
(7) Any overapplied or underapplied manufacturing overhead is closed to Cost of Goods Sold ?
(8) Finished goods are sold $ 219,300

Required:

Complete the following T-accounts by recording the beginning balances and each of the transactions listed above.

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