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The following T-accounts represent November activity. Materials Inventory Work- In-Process Inventory (11/30) B (11/1) Dir.Materials 56,800 32,000 86,100 Finished Goods Inventory Cost of Goods Sold (11/30) 103,000 Applied Manu facturing overhead Manufacturing Overhead Control T 259,500 Sales Revenue Wages Payable 765,700 Additional Data Materials of $114,100 were purchased during the month, and the balance in the Materials Inventory account increased by $12,000 Overhead is applied at the rate of 150 percent of direct labor cost. Sales are billed at 190 percent of cost of goods sold before the over- or underapplied overhead is prorated. The balance in the Finished Goods Inventory account decreased by $29,400 during the month before any proration of under- or overapplied overhead. Total credits to the Wages Payable account amounted to $203,000 for direct and indirect labor Factory depreciation totaled $38,190. Overhead was underapplied by $26,040. Overhead other than indirect labor, indirect materials, and depreciation was $201,350, which required payment in cash. Underapplied overhead is to be allocated. The company has decided to allocate 25 percent of underapplied overhead to Work-in-Process Inventory, 15 percent to Finished Goods Inventory, and the balance to Cost of Goods Sold. Balances shown in T-accounts are before any allocation. Required: Complete the T-accounts. Not all amount fields to be populated have accompanying descriptions. Materials Inventory Work-in-Process Inventory Beg. Bal. (11/1) Beg. Bal. (11/1) 32,000 Purchases Direct materials Direct materials 86,100 Indirect materials Direct labor Overhead applied 56,800 Bal End. Bal. (11/30) 118,100 118,100 End. Bal. (11/30) Finished Goods Inventory Cost of Goods Sold Beg. Bal. (11/1) Beg. Bal. (11/1) 103,000 Bal. End. Bal. (11/30) 103,000 End. Bal. (11/30) Manufacturing Overhead Control Applied Manufacturing Overhead Beg. Bal. (11/1) Beg. Bal. (11/1) 259,500 Indirect materials 259,500 End. Bal. (11/30) End. Bal. (11/30) Sales Revenue Wages Payable Beg. Bal. (11/1) Beg. Bal. (11/1) 765,700 Direct labor End. Bal. (11/30) 765,700 End. Bal. (11/30)

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