Additional Data
Sales are billed at percent of Cost of Goods Sold before the over or underapplied overhead is prorated.
Materials of $ were purchased during the month, and the balance in the Materials Inventory account
increased by $
Overhead is applied at the rate of percent of direct materials cost.
The balance in the Finished Goods Inventory account decreased by $ during the month before any proration
of under or overapplied overhead.
Total credits to the Wages Payable account amounted to $ for direct and indirect labor.
Factory depreciation totaled $
Overhead was overapplied by $ Overhead other than indirect labor, indirect materials, and depreciation
incurred was $ which required payment in cash. Overapplied overhead is to be allocated.
The company has decided to allocate percent of overapplied overhead to WorkinProcess Inventory, percent
to Finished Goods Inventory, and the balance to Cost of Goods Sold. Balances shown in Taccounts are before any
allocation.
Required:
Complete the Taccounts. Not all amount fields to be populated have accompanying descriptions.
