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 $18,500 $32,000 $50,000 Transactions: (1) Raw materials purchases $ 79,500 Raw materials used in production (all direct $ 77,500 17 materials) (3) Direct labor $ 52,000 (4) Manufacturing overhead costs incurred $ 98,500 (5) Manufacturing overhead applied $ 72,000 (6) Cost of units completed and transferred from Work in $190, Process to Finished Goods (7) Any overapplied or underapplied manufacturing overhead is closed to cost of Goods Sold (8) Finished goods are sold $220, 500 Required: Complete the following T-accounts by recording the beginning balances and each of the to Raw Materials Work in Pro Beg Bal. Beg Bal < Prev 34 of 38 !! earch

Answer 1

Raw Materials
Beg. Bal	18500
1	79500	77500	2
End. Bal	20500
Work in Process
Beg. Bal	32000
2	77500	190000	6
3	52000
5	72000
End. Bal	43500
Finished Goods
Beg. Bal	50000
6	190000	220500	8
End. Bal	19500
Manufacturing Overhead
Beg. Bal	0
4	90500	72000	5
		18500	7
End. Bal	0
Cost of Goods Sold
Beg. Bal	0
8	220500
7	18500
End. Bal	239000