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The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year Beg Bal ,450 5, 650 9, 900 Beg Ba.l 4,550 6,650 8,950 8,750 22,650 Beg Bal 2,650 22,650 20, 850 8alaries Payable 3,250 3,950 3,650 8,750 20, 850Beg Bal 2,950 Beg Bal 12,900 20,850 The Cost of Goods Manufactured was: Musple Choice 20850 $22,650 $43,500 $9,8006 Eppich Corporation has provided the following data for the most recent month: Raw materials, beginning balance Work in process, beginning balance Finished Goods, beginning balance $25,500 $34,800 $52,800 Transactions: (1)Rw materials purchases (2) Raw materials used in production (all direct materials) (3) Direct labor (4) Manufacturing overhead costs incurred (5) Manufacturing overhead applied (6) Cost of units completed and transferred from Work in $ 78,100 $ 78,900 $ 54, 800 $ 97,500 $ 74,800 $190,000 Process to Finished Goods (7) Any overapplied or underapplied manufacturing overhead is closed to Cost of Goods Sold (8) Finished goods are sold $224,700 Required: Complete the following T-accounts by recording the beginning balances and each of the transactions listed above. Ma als Beg. Bal 1) 25,500 Beg. Bal 2) 3) 5) 34,800 7B,900 54,800 74,800 78,100 7B,900 (2) 190,000 (6) End. Bal 24,700 End. Bal 53.300 Finished Goods Man Beg. Bal 6) 52,800 Beg. Bal 4) 74,800 (5) 7) 190,000 224,700(8) 97,500 End. Bal. 1B,100 End. Bal. 22,700Cost of Goods Sold Beg. Bal. B) 7) 224,700 End. Bal. 224,700

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Answer #1

Answer 2:

Correct answer is:

$22,650

Explanation:

Cost of goods manufactured is credited to Work in Process and Debited to Finished Goods. From T accounts given, the amount is $22,650.

As such option B is correct and other options A, C and D are incorrect.

Answer 6:

T Accounts with posted entries:

Raw Material $25,500 $78,900 $78,100 Work in Process Beg Bal Beg Bal.$34,800 $190,000(6 (2)$78,900 $54,800 (5) $74,800 End.Bal $24,700 End.Bal$53,300 Finished Goods $52,800 $224,700 $190,000 Manufacturing Overhead Beg Bal Beg Bal 74,800(5) 4) $97,500 $22,700 End Bal $18,100 End Bal $0 Cost of Goods Sold Beg Bal $22,700 $224,700 End Bal $247,400

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