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Analyze the following T-accounts:
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Determine the missing amounts. (Assume that material costs are recorded before labor costs.)
Raw Materials Inventory | | Work-in-Process Inventory | | Finished Goods Inventory |
Bal. | 5,500 | | | | | | Bal. | 1,000 | | | | | | Bal. | 1,500 | | | | |
| 26,000 | | | | (a) | | (b) | | | | 30,000 | | | (c) | | | | | (d) |
| | | | | | | | 6,500 | | | | | | | | | | | |
| | | | | | | | 11,550 | | | | | | | | | | | |
Bal. | 6,000 | | | | | | Bal. | 10,050 | | | | | | Bal. | 5,500 | | | | |
| | | | | | | | | | | | | | | | | | | |
Accumulated Depreciation | | Accounts Payable | | Wages Payable |
| | | | 10,000 | | | | | | | 26,000 | | | | | | | | (e) |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Manufacturing Overhead | | Cost of Goods Sold | | |
| 4,500 | | | 11,550 | | | (g) | | | | | | | | | | | | |
| 1,200 | | | | (f) | | | 4,150 | | | | | | | | | | | |
| 10,000 | | | | | | | | | | | | | | | | | | |
Bal. | 0 | | | | | | Bal. | 30,150 | | | | | | | | | | | |
1: Data Table
Raw Materials Inventory | | Work-in-Process Inventory | | Finished Goods Inventory |
Bal. | 5,500 | | | | Bal. | 1,000 | | | | Bal. | 1,500 | | |
| 26,000 | (a) | | | | (b) | 30,000 | | | | (c) | (d) | |
| | | | | | 6,500 | | | | | | | |
| | | | | | 11,550 | | | | | | | |
Bal. | 6,000 | | | | Bal. | 10,050 | | | | Bal. | 5,500 | | |
| | | | | | | | | | | | | |
Accumulated Depreciation | | Accounts Payable | | Wages Payable |
| | 10,000 | | | | | 26,000 | | | | | (e) | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Manufacturing Overhead | | Cost of Goods Sold | | |
| 4,500 | 11,550 | | | | (g) | | | | | | | |
| 1,200 | (f) | | | | 4,150 | | | | | | | |
| 10,000 | | | | | | | | | | | | |
Bal. | 0 | | | | Bal. | 30,150 | | | | | | |
Answer & Explanation
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