5e sol05-16 - 158,000 2). T-Accounts Post relevant...

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Prob 5-16 Journal Entries Enter the journal entries for items a) through l). Use the pull-down menus on the cells to select the accounts. a) Materials Inventory 50,100 Accounts Payable 50,100 b) Work-in-Process Inventory 30,000 Overhead Control 15,000 Materials Inventory 45,000 c) Work-in-Process Inventory 70,000 Overhead Control 32,000 Administrative Expense 18,000 Selling Expense 9,900 Wages Payable 129,800 d) Overhead Control 13,400 Accumulated Depreciation 13,400 e) Overhead Control 1,450 Property Tax Expense 1,450 f) Overhead Control 6,200 Prepaid Insurance 6,200 g) Overhead Control 6,000 Utilities Payable 6,000 h) Selling Expense 7,200 Advertising Payable 7,200 i) Administrative Expense 1,500 Selling Expense 650 Accumulated Depreciation 2,150 j) Administrative Expense 750 Legal Fees Payable 750 k) Work-in-Process Inventory 72,000 Overhead Control 72,000 l) Finished Goods Inventory 158,000 Work-in-Process Inventory
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Unformatted text preview: 158,000 2). T-Accounts Post relevant information from journal entries above to appropriate t-accounts. Materials Inventory Beg. Bal. 5,000 50,100 45,000 10,100 Overhead Control 15,000 72,000 32,000 13,400 1,450 6,200 6,000 2,050 Work in Process Beg. Bal. 30,000 30,000 158,000 70,000 72,000 44,000 Finished Goods Beg. Bal. 60,000 158,000 218,000 3). Perlmutter Products Inc. Schedule of Cost of Goods Manufactured For the Month Ended May 31, 20XX Direct materials $30,000 Direct labor 70,000 Overhead: Supplies $15,000 Indirect labor 32,000 Depreciation, plant and equipment 13,400 Property taxes 1,450 Utilities, factory 6,200 Insurance 6,000 $74,050 Less: Underapplied overhead 2,050 Overhead applied 72,000 Manufacturing costs added $172,000 Add: beginning work in process 30,000 Less: ending work in process (44,000) Cost of goods manufactured $158,000...
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5e sol05-16 - 158,000 2). T-Accounts Post relevant...

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