2. The \"flow\" of manufacturing costs through the ledger of Wolpe Mfg. Co. duri

Question

2. The "flow" of manufacturing costs through the ledger of Wolpe Mfg. Co. during the month of October is summarized in the following T accounts. Certain amounts have been omitted and are represented by question marks Materials Inventory Work in Process Inventory Beg Bal 42,000 49,000 End Bal 47,000 44,000 Beg Bal 10,000 End Bal. 14,000 Direct Labor Finished Goods Inventory 0 Beg Bal. 92,000 29,000 Beg Bal 131,000 32,000 End Bal End. Bal. 77,000 Manufactring Overhead Cost of Goods Sold 44,000 44,000 131,000 From the data supplied above, determine each of the following amounts. Some of the required amounts already appear in the T accounts; others require a short computation. (a) The amount of direct materials used during the month: $ to direct labor workers during the month: $ payable to direct labor workers at October 31:$ charged (debited) to the Work in Process Inventory account during the month: $ (e) The cost of finished goods manufactured during the month:$ (b) The amount paid -(c) The amount of accrued wages (d) Total manufacturing costs

Explanation / Answer

a Direct materials used = 44000 b Amount paid to direct labors = 29000 c Accrued wages = 32000-29000 = 3000 d Total manufacturing costs debited = 44000+32000+44000= 120000 e Cost of finished goods manufactured = 10000+120000-14000= 116000

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