Question

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) Raw 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 Process to Finished Goods (7) Any overapplied or underapplied manufacturing overhead is closed to cost of Goods Sold (8) Finished goods are sold $ 78,100 $ 78,90 $ 54,800 $ 97,500 $ 74,800 $190, eee ? $224,700 Required: Complete the following T-accounts by recording the beginning balances and each of the transactions listed above. Raw Materials Work in Process Beg. Bal. Beg Bal End. Bal. End. Bal. Finished Goods Manufacturing Overhead Beg Ball Beg. Bal End. Bal. End. Bal. Cost of Goods Sold Beg. Bal End. Bal.

Answer 1

Solution:

Raw materials
Beginning balance	25,500	2	78,900
1	78,100
Ending balance	24,700

Work in process
Beginning balance	34,800
2	78,900	6	1,90,000
3	54,800
5	74,800
Ending balance	53,300

Finished goods
Beginning balance	52,800
6	1,90,000	8	2,24,700
Ending balance	18,100

Manufacturing overhead
Beginning balance
4	97,500	5	74,800
		7	22,700
Ending balance	22,700

Cost of goods sold
Beg. Bal
7	22,700
8	2,24,700
End bal.	2,47,400

9 Copy of HomeworkLib2 - Microsoft Excel (Product Activation Failed) X File Home Insert Page Layout Formulas Data Review View X % Cut AutoSum Calibri 11 A A z Wrap Text General Normal Bad Good La Copy Fill Paste B 1 U- A, *Merge & Center Calculation Conditional Format as Neutral Formatting Table Check Cell Insert Delete Format Format Painter 2 Clear Sort & Find & Filter - Select Editing Clipboard Font Alignment Number Styles Cells L59 fac A B С D E F G H 1 J K L M N o Р Q R S T 37 25,500 34,800 52,800 Raw materials Beginning balance 25,500 1 78,100 2 78,900 Work in process Beginning balance 34,800 2 78,900 3 54,800 5 74,800 6 1,90,000 Ending balance 24,700 Ending balance 53,300 78,100 78,900 54,800 97,500 74,800 1,90,000 ? 2,24,700 Finished goods Beginning balance 52,800 6 1,90,000 Manufacturing overhead Beginning balance 4 97,500 5 8 2,24,700 74,800 38 39 Raw materials beginning 40 Work in process beginning 41 Finished goods beginning 42 43 1 Rawmaterials purchase 44 2 Raw materials used in prodution 45 3 Direct labour 46 4 Manufacturing overhead costs incurred 47 5 Manfuacturing overhead applied 48 6 Cost of untis completed and transferred 49 7 Any overapplie or underapplied MOH 50 8 Finished goods are sold 51 52 53 54 55 56 57 58 59 60 61 62 63 64 7 22,700 Ending balance 18,100 Ending balance 22,700 Cost of goods sold Beg. Bal 7 22,700 8 2,24,700 O End bal. 2,47,400 65 66 67 68 Sheet176 Sheet177 Sheet178 Sheet179 Sheet180 Sheet181 Sheet182 Sheet183 Sheet184 Sheet185 Sheet186 IIII Ready W 100% 1 Type here to search O חד 60% » ENG 01:01 25-09-2020 1