Eppich Corporation has provided the following data for the most recent month:
|Raw materials, beginning balance||$||21,000|
|Work in process, beginning balance||$||33,000|
|Finished Goods, beginning balance||$||51,000|
|(1)||Raw materials purchases||$||79,000|
|(2)||Raw materials used in production (all direct materials)||$||78,000|
|(4)||Manufacturing overhead costs incurred||$||93,000|
|(5)||Manufacturing overhead applied||$||73,000|
|(6)||Cost of units completed and transferred from Work in
Process to Finished Goods
|(7)||Any overapplied or underapplied manufacturing overhead is
closed to Cost of Goods Sold
|(8)||Finished goods are sold||$||222,000|
Complete the following T-accounts by recording the beginning balances and each of the transactions listed above.
Get Answers For Free
Most questions answered within 1 hours.