Eppich Corporation has provided the following data for the most recent month Raw

Question

Eppich Corporation has provided the following data for the most recent month Raw materials, beginning balance Work in process, beginning balance Finished Goods, beginning balance $17,500 $31,600 $49,600 Transactions (1) Raw materials purchases (2) Raw materials used in production (all direct materials) (3) Direct labor (4) Manufacturing overhead costs incurred (5) Manufacturing overhead applied (6) Cost of units completed and transferred from Work in $ 79,700e 77,300 $ 51,608 $ 89,500e $ 71,600 $190,006e Process to Finished Goods (7) Any overapplied or underapplied manufacturing overhead is closed to Cost of Goods Sold (8) Finished goods are sold $219,90e Required: Complete the following T-accounts by recording the beginning balances and each of the transactions listed above

Explanation / Answer

Raw Material Beg. Balance    17,500.00 Purchases    79,700.00 WIP    77,300.00 End. Bal.    19,900.00    97,200.00    97,200.00 Work in Progress Beg. Balance      31,600.00 Raw Material      77,300.00 Manufactring OH      71,600.00 Direct Labour      51,600.00 Finished Goods    190,000.00 End. Bal.      42,100.00    232,100.00    232,100.00 Finished Goods Beg. Balance      49,600.00 WIP    190,000.00 End. Bal.    239,600.00    239,600.00    239,600.00 Manufacturing Overhead To Accrued Expenses    89,500.00 WIP    71,600.00 COST of Goods Sold    17,900.00 End. Bal.    89,500.00    89,500.00 Cost of Goods Sold Beg. Balance Manufacturing Overhead    17,900.00 End. Bal.    17,900.00    17,900.00    17,900.00

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