The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year: ...
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Accounting
The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year:
| Raw Materials | |||
| Beg Bal | 5,200 | 9,400 | |
| 5,400 | |||
| Work in Process | |||
| Beg Bal | 4,300 | 22,400 | |
| 6,400 | |||
| 8,700 | |||
| 8,500 | |||
| Finished Goods | |||
| Beg Bal | 2,400 | 20,600 | |
| 22,400 | |||
| Manufacturing Overhead | |||
| 3,000 | 8,500 | ||
| 3,700 | |||
| 3,400 | |||
| Wages & Salaries Payable | |||
| 20,600 | Beg Bal | 2,700 | |
| 12,400 | |||
| Cost of Goods Sold | |||
| Beg Bal | 20,600 | ||
The manufacturing overhead applied was:
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