This Question: 10 pts 10f 7 (0 complete) This Test: 80 pts p urses Hom Complete

Question

This Question: 10 pts 10f 7 (0 complete) This Test: 80 pts p urses Hom Complete the missing amounts and labels in the T-accounts. t(Click the icon to view the T-accounts.) nents Direct Labor 4,000 10,000 4,000 Manufacturing Overhead eTex Balance, May 31 ia Res Finished Goods Inventory )Transfer out to [ 0 Balance, May 1 Transfer in from Stut Balance, May 3 2,000 Cost of Goods Sold ati Balance, May 1 Transfer in from Balance, May 31 Choose from any list or enter any number in the input fields and then continue to the next question.

Explanation / Answer

WIP Account-Cutting Balance, May 1 0 Direct Material      53,000 Tfr out to WIP Accounts-Finishing           87,000 Direct Labor      16,000 Mfg Ohs      33,000 Balance, May 31      15,000 WIP Account-Finishing Balance, May 1        9,000 May 31,Tfr to Packaging       1,30,000 Transfer from Cutting      87,000 Direct Material      18,000 Direct Labor        6,000 Mfg Ohs      15,000 Balance, May 31        5,000 WIP Account-Packaging Balance, May 1      11,000 May 31,Tfr to Finished Goods Inventory       1,60,000 Transfer from finishing 1,30,000 Direct Material        9,000 Direct Labor        4,000 Mfg Ohs      10,000 Balance, May 31        4,000 Finished Goods Inventory Balance, May 1 May 31,Tfr to cost of goods Sold       1,58,000 Transfer from Packaging 1,60,000 Balance, May 31        2,000 Cost of Goods Sold Balance, May 1               -   Transfer from Finished Goods Inventory 1,58,000 Balance, May 31               -   Assumed, all goods has been sold

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