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TB Problem Qu. 3-242 Eppich Corporation has provided ...
Eppich Corporation has provided the following data for the most recent month:
| | | |
| Raw materials, beginning balance | $ | 16,500 |
| Work in process, beginning balance | $ | 31,200 |
| Finished Goods, beginning balance | $ | 49,200 |
| |
Transactions:
| | | | |
| (1) | Raw materials purchases | $ | 79,900 |
| (2) | Raw materials used in production (all direct materials) | $ | 77,100 |
| (3) | Direct labor | $ | 51,200 |
| (4) | Manufacturing overhead costs incurred | $ | 88,500 |
| (5) | Manufacturing overhead applied | $ | 71,200 |
| (6) | Cost of units completed and transferred from Work in Process to Finished Goods | $ | 190,000 |
| (7) | Any overapplied or underapplied manufacturing overhead is closed to Cost of Goods Sold | | ? |
| (8) | Finished goods are sold | $ | 219,300 |
| |
Required:
Complete the following T-accounts by recording the beginning balances and each of the transactions listed above.
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