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 1 year 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...
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...
Dickerson Corporation has provided the following data for the month of April: Inventories: Beginning Ending Raw...
Dickerson Corporation has provided the following data for the
month of April:
Inventories:
Beginning
Ending
Raw materials
$
21,000
$
35,000
Work-in-Process
$
17,000
$
19,000
Finished goods
$
46,000
$
38,000
Additional information:
Raw materials
purchases
$
76,000
Direct labor cost
$
81,000
Manufacturing overhead cost
incurred
$
42,000
Indirect materials included in
manufacturing overhead cost incurred
$
6,000
Manufacturing overhead cost
applied to Work-in-Process
$
44,000
Required:
Prepare a Schedule of Cost of Goods Manufactured and a Schedule...
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