Raw material inventory | Work In process inventory | |||||||||
beg bal | 225000 | Beg bal | 16000 | |||||||
174000 | Raw material used | Direct material | 174000 | |||||||
Direct labor | 324000 | |||||||||
end bal | 51000 | Manufacturing overhead | 180000 | |||||||
121000 | Finished | |||||||||
end bal | 573000 | |||||||||
Wages payable | ||||||||||
Beg bal | 0 | |||||||||
324000 | WIP | Menufacturing overhead | ||||||||
Beg bal | 0 | |||||||||
End bal | 324000 | 180000 | work in process | |||||||
Finished goods inventory | end bal | 180000 | ||||||||
Beg bal | 30000 | |||||||||
Work in process | 121000 | |||||||||
132000 | Cost of goods sold | |||||||||
End bal | 19000 | sales revenue | ||||||||
beg bal | 0 | |||||||||
197000 | account receivable | |||||||||
accounts receivables | ||||||||||
Beg bal | 0 | end bal | 197000 | |||||||
sales | 197000 | |||||||||
Cost of goods sold | ||||||||||
end bal | 197000 | beg bal | 0 | |||||||
finished goods | 132000 | |||||||||
end bal | 132000 |
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Required information The following information applies to the questions displayed below.] 0.7 points Reimel Furniture Company,...
Required information (The following information applies to the questions displayed below.] Reimel Furniture Company, Inc. incurred the following costs during 20x2. Direct material used Direct labor Manufacturing overhead $ 173,000 319,000 180,000 During 20x2, products costing $121,000 were finished, and products costing $132,000 were sold on account for $193,000. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows: Raw material Work in process Finished goods $ 225,000 16,000...
Required information [The following information applies to the questions displayed below.] Reimel Furniture Company, Inc. incurred the following costs during 20x2. Direct material used Direct labor Manufacturing overhead $ 173,000 319,000 180,000 During 20x2, products costing $122,000 were finished, and products costing $132,000 were sold on account for $ 197,000. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows: Raw material Work in process Finished goods $ 226,000...
Required information The following information applies to the questions displayed below Reimel Furniture Company, Inc. incurred the following costs during 20x2. Direct material used Direct labor Manufacturing overhead $173,000 320,000 160,000 During 20x2, products costing $122,000 were finished, and products costing $132,000 were sold on account for $197,000. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows: Raw material Work in process Finished goods $226,000 14,000 30,000 Required:...
Required information The following information applies to the questions displayed below Reimel Furniture Company, Inc. incurred the following costs during 20x2. Direct material used Direct labor Manufacturing overhead $172,000 321,000 170,000 During 20x2, products costing $122,000 were finished, and products costing $132,000 were sold on account for $193,000. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows: Raw material Work in process Finished goods $225,000 16,000 30,000
Required information (The following information applies to the questions displayed below.] Reimel Furniture Company, Inc. incurred the following costs during 20x2. Direct material used Direct labor Manufacturing overhead $ 173,000 319,000 180,000 During 20x2, products costing $121,000 were finished, and products costing $132,000 were sold on account for $193,000. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows: Raw material Work in process Finished goods $ 225,000 16,000...
Reimel Furniture Company, Inc. incurred the following costs during 20x2. Direct material used $ 172,000 Direct labor 320,000 Manufacturing overhead 160,000 During 20x2, products costing $120,000 were finished, and products costing $132,000 were sold on account for $193,000. There were no purchases of raw material during the year. The beginning balances in the firm’s inventory accounts are as follows: Raw material $ 226,000 Work in process 14,000 Finished goods 30,000 Exercise 3-31 Part 1 Required: 1. Prepare T-accounts to show...
Reimel Furniture Company, Inc. incurred the following costs during 20x2. Direct material used Direct labor Manufacturing overhead $ 173,000 322,000 170,000 During 20x2, products costing $121,000 were finished, and products costing $132,000 were sold on account for $193,000. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows: Raw material Work in process Finished goods $ 226,000 16,000 28,000 Required: 1. Prepare T-accounts to show the flow of costs...
Reimel Furniture Company, Inc. incurred the following costs during 20x2. Direct material used $ 174,000 Direct labor 320,000 Manufacturing overhead 160,000 During 20x2, products costing $121,000 were finished, and products costing $132,000 were sold on account for $195,000. There were no purchases of raw material during the year. The beginning balances in the firm’s inventory accounts are as follows: Raw material $ 225,000 Work in process 18,000 Finished goods 30,000 1. Prepare T-accounts to show the flow of costs through...
Jay Sports Equipment Company, Inc. incurred the following costs during 20x2. Direct material used $172,000 Direct labor 320,000 Manufacturing overhead applied 160,000 During 20x2, products costing $122,000 were finished, and products costing $132,000 were sold on account for $197,000. There were no purchases of raw material during the year. The beginning balances in the firm’s inventory accounts are as follows: Raw material $225,000 Work in process 16,000 Finished goods 30,000 Required: 1. Prepare T-accounts to show the flow...
Required information [The following information applies to the questions displayed below.] The following data refer to San Fernando Fashions Company for the year 20x2: Sales revenue $ 1,050,000 Work-in-process inventory, December 31 30,000 Work-in-process inventory, January 1 32,000 Selling and administrative expenses 150,000 Income tax expense 80,000 Purchases of raw material 160,000 Raw-material inventory, December 31 25,000 Raw-material inventory, January 1 40,000 Direct labor 180,000 Utilities: plant 40,000 Depreciation: plant and equipment 40,000 Finished-goods inventory, December 31 50,000 Finished-goods inventory,...