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Exercise 7-20 Partially completed T-account and additional information for Cardinals, Inc., for the month of November follow. Materials Inventory BB...

Exercise 7-20 Partially completed T-account and additional information for Cardinals, Inc., for the month of November follow. Materials Inventory BB debit 30,000, debit 120,000 credit 96,000. Work-in-Process Inventory BB 60,000, debit Labor 90,000. Finished Goods Inventory BB debit 80,000, debit 180,000 credit 120,000. Manufacturing Overhead Control debit 78,000. Labor wage rate was $30 per hour. Manufacturing overhead is applied at $24 per direct labor-hour. During the month, sales revenue was $270,000, and selling and administrative cost were $48,000. This company has no indirect materials or supplies. What cost amount of direct materials was issued to production during November? How much manufacturing overhead was applied to products during November? What was the cost of products completed during November? What was the balance of the work-in-process inventory account at the end of november? What was the over-or underapplied manufacturing overhead for November? What was the operating profit for November? Any over- or underapplied overhead is written off to Cost of Goods Sold.
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Exercise 7-20
Partially completed T-account and additional information for Cardinals, Inc., for the month of
November follow.
Materials Inventory BB debit 30,000, debit 120,000 credit 96,000....

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