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The partially completed T-accounts and selected additional information for Hancock Parts for the month of February follow: Finished Goods Inventory Debit Credit BB (2/1) EB (2/28) Materials Inventory Debit Credit Debit 18,000 Cost of Goods Sold Additional information for February follows: Sales Revenue in February was $194,200. The operating loss for February was $(14,000). Credit Work-in-Process Inventory Credit Debit BB (2/1) EB (2/28) 27,000 49,000 Manufacturing Overhead Control Debit Credit Required: a. What was the cost of direct materials issued to production during February? b. What was the amount of materials purchased in February? BB (2/1) 43,000 25,000 Applied Manufacturing Overhead Debit Credit EB (2/28) c. What was the cost of goods transferred out of Finished Goods Inventory in February? d. What was the cost of goods transferred out of Work-in-Process Inventory in February? Hancock applies manufacturing overhead at the rate of 75 percent of direct materials costs. Indirect materials in the amount of $18,000 was debited to Manufacturing Overhead Control in February. These materials had been stored in the materials inventory. No other indirect materials were issued in February. The Materials Inventory ending balance on February 28 was $34,500 greater than the ending balance on January 31. The Cost of Goods Sold in February, including overapplied overhead of $7,100, was $182,400. 52,950 e. What were the direct labor costs incurred in February? f. What was the total amount of actual overhead charged to the Manufacturing Overhead Control account in February? g. What were the selling and administrative costs incurred in February?

The partially completed T-accounts and selected additional information for Hancock Parts for the month of February follow: Additional information for February follows: - Sales Revenue in February was $194,200. - The operating loss for February was $(14,000). - Hancock applies manufacturing overhead at the rate of 75 percent of direct materials costs. - Indirect materials in the amount of $18,000 was debited to Manufacturing Overhead Control in February. These materials had been stored in the materials inventory. No other indirect materials were issued in February. - The Materials Inventory ending balance on February 28 was $34,500 greater than the ending balance on January 31 . - The Cost of Goods Sold in February, including overapplied overhead of $7,100, was $182,400. Required: a. What was the cost of direct materials issued to production during February? b. What was the amount of materials purchased in Februaty? c. What was the cost of goods transferred out of Finished Goods Inventory in February? d. What was the cost of goods transferred out of Work-in-Process Inventory in February? e. What were the direct labor costs incurred in February? f. What was the total amount of actual overhead charged to the Manufacturing Overhead Control account in February? g. What were the selling and administrative costs incurred in February

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