Question

mapter 02 Pre-Built Problems * Saved Help Save & Exit Submit Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 6 Beg. Bal. Raw Materials Inventory 15,600 27,500 21,900 Beg. Bal. (6) Work in Process Inventory 6.600 19,710 51,700 11.800 23,600 End. Bal 21,200 End Bal 10.010 Cost of Goods Sold Finished Goods Inventory 22,000 Beg. Bal. Beg Bal End. Bal. 22.000 End. Bal Manufacturing Overhead Selling, General, and Administrative Expenses Beg Bal Beg Bal 19,710 X 11,800 5,800 6.200 End, Bal

Answer 1

= 1) T- account Raw Materials Inventory Amount Particular Amount Beginning Bal a Balance 15,600 Material issued to Production/ 21,900 Particular Purchased Material / 27,500 Ending Balance | 21,200 Work in Process Inventory Particular Amount | Particolar Amount Beginning Balance 6,600 Cost of goods 52,910 Material issued T Manufactured (21900 @904.) (Balancing figure). Payroll for Assembly - workers 11,800 Manufacturing overhead 23,600 of direct labour cost (111900 @200:6.) 1 Ending Balance 8800 10

Note: Erding work in Rugpress - 2500 +2100'+4200 8800 Cost of goods Manufactured is the balancing high +(56007191104 11800+ 23600) -8800 = 52,910 - Finished Goods loventory Particular Amount Particular Amount Beginning Balance 22000 sales 51,900 | cast of goods Hanfo | 52,910 Ending Balance 23.010 - Manufacturing Overhead Particular Amount Particular Amount | Beginning Balance o Applied over head of direct labour Coast | 23,600 (21900 @10:) (11800 @2001.) (21900-19,710) factory supervision 2100 Depreciation of factory Machines 5800 Insurance 520 (1900 X 4011) Cosbe sche fechargest 6,200 Ending Balance 16790 Selling General & Administrative Expenses Partiolais Amount partiblar Beginning Balance o Admimisteative Peesome 270 0 Sales Commission Depreciation of Copien 780 Administzative Expense | Ending Balance 6980 Indirect Material | 2190 2.100 1400

Cost of goods sold Armount Particolar Partiolay Begioning Balance sales 51900 coding Balance Particolar 5.900 sales Revenue Amount / particolar Ancont Beginning Balance o Cash 67,4470 Ending Balance 67,470 Accounts Payable | Amount Particolar Account phased Material 27,500 Ending Balance | 27.500 Particolar Beginning Balance Cash Particolas Amount | Particular | Amoent Beginning Balance T o Manufacturing ovahed 6,200 Sales Revenue 67,470 (Ending Balance 161,270 wages Payable Particolar Amount Particolai Amount Beginning Balance Payrod! Cost 18,70 0 Ending Balance 18,70 0 Are 0

Accumulated depreciation (Machine 1 Parlisler Amount Particular TA Beginning Balance T Deprecation on Machinal Intion on Machine (5200 Ending Balance 5800 Accumulated depredation Coffice Copipment) L Paulolar Amount ! Particular Amount Beginning Balance To Depreciation on copier | moo Ending Balance inco Pre Paid Insurance Particular Amount Particolar Amount Beginning Balance lo manufacturing lusuraue 520 Administrative lusuran 780 Ending Balance incel 1300 2) Unadjusted Gross profit Sales Revenue - = 67,470 Less: Cost of goods sold = 51,900) Unadjusted Gross profit > 15,570 3) Over con Under Applied Overhead: Total Manufacturing Oveebead lncurred Indirect Material C21900 - 19710) factory supervision depreciation on Machine Insurance (1300 @ 401) other factory Cost = 2190 = 2100 = 5800 = 520 - 6200 16,810 Total >

Total Manufactoring overhead Cost Incoxed - 16,210 Manufacturing Overhead Cost Applied to wlost in proces s (1,800@2001) - 23,600 over Applied orehead > 6790 dres Applied. Applied Manuf. Orechead is more than Total Manuf. overhead. 4) Adjusted Gross profit! Gross profit (unadjusted) - 19570 Addi over Applied Manf orechead = 6790 Adjusted Gooss Bafit -> 22,360