BYP 2-2 - Manufacturing overhead 3,000 Raw Materials 3,000...

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Question Explanation/accounts Debit Credit 1 Works in Process Inventory 25,000 Raw Materials Inventory 25,000 (To assign raw materials to production) 2 Manufacturing Overhead 12,000 Indirect Labor 12,000 (To record bonuses paid to salespeople) 3 Factory Labor 120,000 Factory Wages Payable 108,000 Employer Payroll Taxes Payable 12,000 (To record factory labor costs) 4
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Unformatted text preview: Manufacturing overhead 3,000 Raw Materials 3,000 (To assign raw materials to production) What is affected? Balance Sheet Raw materials inv overstated Work in process inv overstated Cash is understated Cash understated Balance sheet Income statement Cah understated Expenses overstated Balance sheet Inventory overstated...
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BYP 2-2 - Manufacturing overhead 3,000 Raw Materials 3,000...

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