Maurice Tutor

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    Argosy University/ Phoniex University/
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    Oct-2001 - Nov-2016

Category > Accounting Posted 17 Aug 2017 My Price 11.00

Patriotic Enterprises

t Account Analysis with Unknowns

P1. Patriotic Enterprises makes flags. The company’s new controller can find only the following partial information for the past two months:

 

 

Account/transaction

Beginning Materials Inventory

May

$  36,240

June

$     (e)

Beginning Work in Process Inventory

56,480

(f )

Beginning Finished Goods Inventory

44,260

(g)

Materials purchased

(a)

96,120

Direct materials requested

82,320

(h)

Direct labor costs

(b)

72,250

Overhead applied

53,200

(i)

Cost of units completed

(c)

221,400

Cost of Goods Sold

209,050

(j)

Ending Materials Inventory

38,910

41,950

Ending Work in Process Inventory

(d)

(k)

Ending Finished Goods Inventory

47,940

51,180

The current year’s predetermined overhead rate is 80 percent of direct labor cost.

 

 

 

 

 

 

reQUIreD

Using T accounts, compute the unknown values.

Answers

Maurice Tutor
(5)
Status NEW Posted 17 Aug 2017 12:08 AM My Price 11.00

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