chap2hw - $44,000 Cost of Goods sold Finished goods...

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Alexandria Hilliard Acct 206-001 BE 2-3,BE2-5,BE2-6,P2-22A BE2-3 $134,000/20,000 Direct labor hours $6.7 per direct labor hour BE2-5 $249,000/10,800 total direct labor hours $23.05 per total direct labor hours BE2-6 Cost of Goods manufactured Direct materials: Raw materials inventory, beginning $12,000 Add: Purchases of raw materials $30,000 Total raw materials available $42,000 Deduct: Raw materials inventory, ending $18,000 Raw materials used in production $24,000 Deduct: Indirect materials included in manufacturing overh $4,000 $20,000 Direct labor $58,000 Manufacturing overhead applied to WIP $87,000 Total manufacturing costs $165,000 Beginning work process inventory $56,000 $109,000 Deduct ending WIP inventory ($65,000) Cost of goods manufactured
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Unformatted text preview: $44,000 Cost of Goods sold Finished goods inventory, beginning $35,000 Add: Cost of goods manufactured $44,000 Goods available for sale $79,000 Deduct: Finished goods inventory, ending ($42,000) Unadjusted cost of goods sold $37,000 Add: Underapplied overhead $4,000 Adjusted cost of goods sold $41,000 P2-22A Journal entry Raw materials $32,000 Accounts payable $32,000 WIP $20,000 Raw materials purchased on account $170,000 Raw materials $190,000 WIP $190,000 Raw materials issued for production ($180,000) $10,000 Salaries Expense Direct labor $200,000 Indirect labor $82,000 Selling and administrative salaries $90,000 Finished Goods $48,000 Transferred goods $700,000 $748,000...
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