Question

Eppich Corporation has provided the following data for the most recent month: Raw materials, beginning balance Work in process, beginning balance Finished Goods, beginning balance $ 23,009 $ 33,809 $ 51,800 Transactions: U R S R (1) Raw materials purchases (2) Raw materials used in production (all direct materials) (3) Direct labor (4) Manufacturing overhead costs incurred re (5) Manufacturing overhead applied (6) Cost of units completed and transferred fron Work in Process to Finished Goods (7) Any overapplied or underapplied manufacturing overhead 15 closed to cost of Goods Sold (8) Finished goods are sold $ 78,608 $ 78,400 $ 53,800 $ 95, cee $ 73,8ee $ 190,000 E S R $223, 2ee Required: Complete the following T-accounts by recording the beginning balances and each of the transactions listed above. Raw Materials Work in Process deg. Bal. TO TIN TI 118 TTT TITLE End. Bal. Finished Goods Manufacturing Overhead Beg. Bal.

Answer 1

Raw material
Beginning balance	23000	(2) Direct materials	78400
(1) RM purchases	78600
Ending Balance	23200
Work in progress
Beginning Balance	33800	(6) Transfer to finished goods	190000
Direct materials	78400
Direct labor	53800
Manufacturing Overhead	73800
Ending Balance	49800
Finished Goods
Beginning Balance	51800	COGS	223200
transfer from WIP	190000
Ending balance	18600
Manufacturing overhead
Manufacturing overhead incurred	95000	Manufacturing overhead applied	73800
COGS	21200	Manufacturing overhead over applied	21200
Cost of goods sold
Cost of goods sold	223200	Manufacturing overhead over applied	21200
	202000