week 6 P3-44 - goods sold. Required: Complete the missing...

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Problem 3-44 Manufacturing Cost Flows; Analysis of T-Accounts (LO 2, 5) Perfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's ledger as of December 31. Raw-Materials Inventory Accounts Payable Bal.1/1 20,500
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2,500 Bal.1/1 ? ? 135,500 ? Bal.12/31 35,500 1,000 Bal12/31
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Work-in-Process Inventory Finished-Goods Inventory Bal.1/1 18,000 Bal.1/1 10,500
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Direct material ? ? ? ? Direct labor ? Bal.21/31 18,500 Manufacturing overhead ? Bal.12/31 18,500
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Manufacturing Overhead Cost of Goods sold ? ? 715,000
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Wages Payable Sales Revenue 1,800 Bal.1/1 ? 147,000 ?
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5,200 Bal.12/31 Accounts Receivable Bal.1/1 10,500 ? 808,000
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Bal.21/31 14,000 Additional information: a. Accounts payable is used only for direct-material purchases. b. Underapplied overhead of $2,450 for the year has not yet been closed into cost of
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Unformatted text preview: goods sold. Required: Complete the missing values in the following T-accounts. (Omit the "$" sign in your response.) Raw-Materials Inventory Bal. 1/1 20,500 134,000 119,000 Bal. 12/31 35,500 Accounts Payable Bal.1/1 2,500 135,500 134,000 Bal. 12/31 1,000 Work-in-Process Inventory Bal. 1/1 18,000 Direct material 119,000 Direct labor 150,400 723,000 Mfg. Overhead 454,100 Bal. 12/31 18,500 Finished-Goods Inventory Bal. 1/1 10,500 723,000 715,000 Bal. 12/31 18,500 Manufacturing Overhead 456,550 454,100 Cost of Goods Sold 715,000 Wages Payable Bal. 1/1 1,800 147,000 150,400 Bal. 12/31 5,200 Sales Revenue 811,500 Accounts Receivable Bal. 1/1 10,500 811,500 808,000 Bal. 12/31 14,000...
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This note was uploaded on 03/30/2010 for the course COB ACCY 202 taught by Professor Shapland during the Spring '10 term at University of Illinois, Urbana Champaign.

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week 6 P3-44 - goods sold. Required: Complete the missing...

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