Question
In: Accounting
Eppich Corporation has provided the following data for the most recent month: Raw materials, beginning balance$16,000...
Eppich Corporation has provided the following data for the most recent month:
Raw materials, beginning balance$16,000
Work in process, beginning balance$31,000
Finished Goods, beginning balance$49,000
Transactions:
(1) Raw materials purchases $80,000
(2)Raw materials used in production (all direct materials) $77,000
3) Direct labor $51,000
(4) Manufacturing overhead costs incurred $88,000
(5) Manufacturing overhead applied $71,000
(6) Cost of units completed and transferred from Work in Process to Finished Goods $190,000
(7) Any over applied or under applied manufacturing overhead is closed to Cost of Goods Sold?
(8) Finished goods are sold $219,000
Required: Prepare journal entries for the transactions above (For simplicity, assume all costs are paid in cash).
Post entries to the following T-accounts by recording the beginning balances and each of the transactions listed above. Cash, Raw materials, Work-in-Process, Finished Goods, Manufacturing Overhead, Cost of goods sold.Determine the ending balances for all non-cash accounts.
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Eppich Corporation has provided the following data for the most recent month: Raw materials, beginning balance...
Eppich Corporation has provided the following data for the most
recent month:
Raw materials, beginning balance
$
25,000
Work in process, beginning balance
$
34,600
Finished Goods, beginning balance
$
52,600
Transactions:
(1)
Raw materials purchases
$
78,200
(2)
Raw materials used in production (all direct materials)
$
78,800
(3)
Direct labor
$
54,600
(4)
Manufacturing overhead costs incurred
$
97,000
(5)
Manufacturing overhead applied
$
74,600
(6)
Cost of units completed and transferred from Work in
Process to Finished...
Eppich Corporation has provided the following data for the most recent month: Raw materials, beginning balance...
Eppich Corporation has provided the following data for the most
recent month:
Raw materials, beginning balance
$
19,000
Work in process, beginning balance
$
32,200
Finished Goods, beginning balance
$
50,200
Transactions:
(1)
Raw materials purchases
$
79,400
(2)
Raw materials used in production (all direct materials)
$
77,600
(3)
Direct labor
$
52,200
(4)
Manufacturing overhead costs incurred
$
91,000
(5)
Manufacturing overhead applied
$
72,200
(6)
Cost of units completed and transferred from Work in
Process to Finished...
Eppich Corporation has provided the following data for the most recent month: Raw materials, beginning balance...
Eppich Corporation has provided the following data for the most
recent month:
Raw materials,
beginning balance
$
16,500
Work in process,
beginning balance
$
31,200
Finished Goods,
beginning balance
$
49,200
Transactions:
(1)
Raw materials purchases
$
79,900
(2)
Raw materials used in production (all direct materials)
$
77,100
(3)
Direct labor
$
51,200
(4)
Manufacturing overhead costs incurred
$
88,500
(5)
Manufacturing overhead applied
$
71,200
(6)
Cost of units completed and transferred from Work in
Process to Finished...
Bledseo Corporation has provided the following data for the month of June: Beginning Ending Raw materials...
Bledseo Corporation has provided the following data for the
month of June:
Beginning
Ending
Raw materials
$
26,700
$
22,700
Work in process
$
18,700
$
11,700
Finished Goods
$
49,700
$
57,700
Additional information:
Raw materials purchases
$
73,700
Direct labor cost
$
93,700
Manufacturing overhead cost incurred
$
43,870
Indirect materials included in manufacturing overhead cost
incurred
$
4,170
Manufacturing overhead cost applied to Work in Process
$
42,700
Any underapplied or overapplied manufacturing overhead is closed
out...
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials...
Bledsoe Corporation has provided the following data for the
month of November:
Beginning
Ending
Raw
materials
$
26,800
$
22,800
Work in
process
$
18,800
$
11,800
Finished
Goods
$
49,800
$
57,800
Additional information:
Raw materials
purchases
$
73,800
Direct labor
cost
$
93,800
Manufacturing
overhead cost incurred
$
43,980
Indirect
materials included in manufacturing overhead cost incurred
$
4,180
Manufacturing
overhead cost applied to Work in Process
$
42,800
Any underapplied or overapplied manufacturing overhead is closed
out...
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials...
Bledsoe Corporation has provided the following data for the
month of November:
Beginning
Ending
Raw materials
$
26,500
$
22,500
Work in process
$
18,500
$
11,500
Finished Goods
$
49,500
$
57,500
Additional information:
Raw materials purchases
$
73,500
Direct labor cost
$
93,500
Manufacturing overhead cost incurred
$
43,650
Indirect materials included in manufacturing overhead cost
incurred
$
4,150
Manufacturing overhead cost applied to Work in Process
$
42,500
Any underapplied or overapplied manufacturing overhead is closed
out...
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials...
Bledsoe Corporation has provided the following data for the
month of November:
Beginning
Ending
Raw materials
$
26,800
$
22,800
Work in process
$
18,800
$
11,800
Finished Goods
$
49,800
$
57,800
Additional information:
Raw materials purchases
$
73,800
Direct labor cost
$
93,800
Manufacturing overhead cost incurred
$
43,980
Indirect materials included in manufacturing overhead cost
incurred
$
4,180
Manufacturing overhead cost applied to Work in Process
$
42,800
Any underapplied or overapplied manufacturing overhead is closed
out...
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials...
Bledsoe Corporation has provided the following data for the
month of November:
Beginning
Ending
Raw materials
$
25,800
$
21,800
Work in process
$
17,800
$
10,800
Finished Goods
$
48,800
$
56,800
Additional information:
Raw materials purchases
$
72,800
Direct labor cost
$
92,800
Manufacturing overhead cost incurred
$
42,880
Indirect materials included in manufacturing overhead cost
incurred
$
4,080
Manufacturing overhead cost applied to Work in Process
$
41,800
Any underapplied or overapplied manufacturing overhead is closed
out...
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials...
Bledsoe Corporation has provided the following data for the
month of November:
Beginning
Ending
Raw materials
$
25,900
$
21,900
Work in process
$
17,900
$
10,900
Finished Goods
$
48,900
$
56,900
Additional information:
Raw materials purchases
$
72,900
Direct labor cost
$
92,900
Manufacturing overhead cost incurred
$
42,990
Indirect materials included in manufacturing overhead cost
incurred
$
4,090
Manufacturing overhead cost applied to Work in Process
$
41,900
Any underapplied or overapplied manufacturing overhead is closed
out...
Standford Corporation has provided the following data for the month of February: Sales.... 280,000 Raw Materials...
Standford Corporation has provided the following data for the
month of February:
Sales.... 280,000
Raw Materials purchases 76,000
Direct labor cost 42,000
Maunufacturing OH 77,000
Selling Expense 20,000
Administrative Expense 35,000
Inventories: Beginning Ending
Raw Materials 22,000 33,000
Work in process 15,000 23,000
Finished Goods 52,000 43,000
Required:
a. Prepare Direct Materials Used in good form
b. Prepare a Schedule of Cost of Goods Manufactured in good
form
c. Prepare the Cost of Goods Sold in good form.
d. Using...
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