You skipped this question in the previous attempt Required information (The foll

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You skipped this question in the previous attempt Required information (The following information applies to the questions displayed below Sierra Company manufactures woven blankets and accounts for product costs using process costing. Data below are for one of its processing departments. The following information is available regarding its May inventories BeginningEnding Raw materials inventory Work in process inventory Finished goods inventory $ 57,800 $ 89,580 412,580517,000 611,0 526,00e The following additional information describes the company's production activities for Mey Raw materials purchases (on credit) Factory wages cost (paid in cesh) Other overheed cost (Other Accounts credited) S 250,0ee 1,594,880 64,000 Materials used Direct Indirect 185,590 62,830 Labor used Direct Indirect s 800,e20 794,000 Overhead rate as a percent of direct labor Sales (on credit) 1158 $6, 500,000 8e.9, of 12 Next> o search

Explanation / Answer

Solution:

Raw Materials Particulars Debit Particulars Credit Beginning Balance $57,000.00 Work In Process $185,500.00 Accounts payable $280,000.00 Factory overhead $62,000.00 Ending Balance $89,500.00 Total $337,000.00 Total $337,000.00

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