Manufacturing Cost Flows: Analysis of T-AccountsPerfecto Pizza Company produces microwavab...

Manufacturing Cost Flows: Analysis of T-Accounts

Perfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's Manufacturing Cost Flows' ledger as of December 31.

Additional information:

a.     Accounts payable is used only for direct-material purchases.

b.     Underapplied overhead of $2,500 for the year has not yet been closed into cost of goods sold.

Required: Complete the T-accounts by computing the amounts indicated by a question mark.