On November 1, Robotics Manufacturing Company\'s beginning balances in manufactu

Question

On November 1, Robotics Manufacturing Company's beginning balances in manufacturing accounts and finished goods inventory were as follows:

During November, Robotics Manufacturing completed the following manufacturing transactions:
1. Purchased raw materials costing $47,000 and manufacturing supplies costing $3,000 on account. (Single Transaction)
2. Requisitioned raw materials costing $40,000 to the factory.
3. Incurred direct labor costs of $27,000 and indirect labor costs of $4,800.
4. Used manufacturing supplies costing $2,500.
5. Recorded manufacturing depreciation of $15,000.
6. Miscellaneous payables for manufacturing overhead totaled $3,600.
7. Applied manufacturing overhead, based on 2,250 machine hours, at a predetermined rate of $10 per machine hour.
8. Completed jobs costing $90,000.
9. Finished goods costing $96,000 were sold.

(a) Prepare "T" accounts showing the flow of costs through all manufacturing accounts, Finished Goods Inventory, and Cost of Goods Sold.

(b) Calculate the balances at the end of November for Work-in-Process Inventory and Finished Goods Inventory. (Enter transactions in the T-accounts in the order they appear, including the beginning balances, if available. Compute the final balance, if requested.)

Raw Materials $11,000 Manufacturing Supplies 500 Work-in-Process 4,500 Finished Goods 27,000

Explanation / Answer

All T Accounts with balances solves both a) & b) Part

Raw Materials Inventory Particulars Debit Particulars Credit Opening 11000 Work-in-Process Inventory 40000 Accounts Payable 47000 Bal 18000 Work-in-Process Inventory Particulars Debit Particulars Credit Opening 4500 Finished Goods 90000 Raw Materials Inventory 40000 Wages Payble 31800 Manufacturing Supplies 2500 Manufacturing Overhead 22500 Bal 11300 Finished Goods Inventory Particulars Debit Particulars Credit Opening 27000 Work in process 90000 Cost of Goods Sold 96000 Bal 21000 Cost of Goods Sold Particulars Debit Particulars Credit Finished Goods Inventory 96000 Bal 96000 Accumulated Depreciation- Factory Assets Particulars Debit Particulars Credit Manufactured Overhead 15000 Bal 15000 Accounts Payable Particulars Debit Particulars Credit Raw material 47000 Manufacturing Supplies 3000 Bal 50000 Wages Payable Particulars Debit Particulars Credit Work in process 31800 Bal 31800 Other Payables Particulars Debit Particulars Credit Manufacturing Overhead 3600 Bal 3600 Manufacturing Supplies Particulars Debit Particulars Credit Opening 500 Work-in-Process Inventory 2500 Accounts Payable 3000 Bal 1000 Manufacturing Overhead Particulars Debit Particulars Credit Work-in-Process Inventory 22500 Accumulated Depreciation- Factory Assets 15000 Other payable 3600 Bal 3900

Related Questions

Navigate

• Browse (All)
• Browse O
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.