Complete the missing amounts and labels in the T-accounts.Work-in-Process Inventory--Cutting Balance, May 10(a)Transfer out to? Direct Materials57,000 Direct Labor5,000 Manufacturing Overhead39,000 Balance, May 3116,000 Work-in-Process Inventory ---Finishing Balance, May 111,00080,000Transfer out to? Transfer in from(b) Direct Materials21,000 Direct Labor(c) Manufacturing Overhead18,000 Balance, May 3168,000 Work-in-Process Inventory---Packaging Balance, May 14,000(d)Transfer out to? Transfer in from(e) Direct Materials1,000 Direct Labor9,000 Manufacturing Overhead14,000 Balance, May 318,000 Finished Goods Inventory Balance, May 10(f)Transfer out to? Transfer in from ?(g) Balance, May 312,000 Cost of Goods Sold Balance, May 10 Transfer in from ?(h) Balance, May 31(i)

Journal entries becomes the base for the purpose of preparation of the T- Accounts i.e. Ledger…

Answered: Complete the missing amounts and labels…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 4PA: During March, the following costs were charged to the manufacturing department: $14886 for...

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Complete the missing amounts and labels in the T-accounts.

Work-in-Process Inventory--Cutting
Balance, May 1	0	(a)	Transfer out to	?
Direct Materials	57,000
Direct Labor	5,000
Manufacturing Overhead	39,000
Balance, May 31	16,000

Work-in-Process Inventory ---Finishing
Balance, May 1	11,000	80,000	Transfer out to	?
Transfer in from	(b)
Direct Materials	21,000
Direct Labor	(c)
Manufacturing Overhead	18,000
Balance, May 31	68,000

Work-in-Process Inventory---Packaging
Balance, May 1	4,000	(d)	Transfer out to	?
Transfer in from	(e)
Direct Materials	1,000
Direct Labor	9,000
Manufacturing Overhead	14,000
Balance, May 31	8,000

Finished Goods Inventory
Balance, May 1	0	(f)	Transfer out to	?
Transfer in from ?	(g)
Balance, May 31	2,000

Cost of Goods Sold
Balance, May 1	0
Transfer in from ?	(h)
Balance, May 31	(i)

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