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    Manufacturing Company T Accounts

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    Hard Core Enterprises makes peripheral equipment for computers. Emily Vit, the company's new controller, can find only the following partial information for the past two months:

    Account/Transaction July August
    Beginning Materials Inventory 52,000 ?
    Beginning Work in Process Inventory 24,000 ?
    Beginning Finished Goods Inventory 36,000 ?
    Materials purchased ? 31,000
    Direct materials requested 77,000 ?
    Direct labor costs ? 44,000
    Overhead applied 53,200 ?
    Cost of units completed ? 167,000
    Cost of Goods Sold 188,000 ?
    Ending Materials Inventory 27,000 8,000
    Ending Work in Process Inventory ? ?
    Ending Finished Goods Inventory 12,000 19,000

    The current year's predetermined overhead rate is 110 percent of direct labor cost.
    Using the data provided and creating T accounts, compute the unknown values.

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    https://brainmass.com/business/t-accounts/manufacturing-company-accounts-463664

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    Account Analysis with Unknowns
    Hard Core Enterprises makes peripheral equipment for computers. Emily Vit, the company's new controller, can find only the following partial information for the past two months:

    Account/Transaction July August
    Beginning Materials Inventory 52,000 ?
    Beginning Work in Process Inventory 24,000 ?
    Beginning Finished Goods Inventory 36,000 ?
    Materials purchased ? 31,000
    Direct materials requested 77,000 ?
    Direct labor costs ? 44,000
    Overhead applied 53,200 ?
    Cost of units completed ? 167,000
    Cost of Goods Sold 188,000 ?
    Ending Materials Inventory 27,000 8,000
    Ending Work in Process Inventory ? ?
    Ending Finished Goods ...

    Solution Summary

    Manufacturing Company T Accounts: Step by step entries for Hard Core Enterprises

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