Score: 0 of 1 pt XE18-19 (similar to) Complete the missing amounts and labels in

Question

Score: 0 of 1 pt XE18-19 (similar to) Complete the missing amounts and labels in the T-accounts 2 of 5 (5 complete) HW Score: 20%, 1 of 5 pts : Question Help Click the icon to view the T-accounts.) Begin with the Work-in-Process-Cutting T-account, then complete each of the remaining T-accounts. (Abbreviations used: COGS = Cost of Goods Sold, FG- Finished Goods, WIP = Work-in-Process) Work-in-Process Inventory-Cutting Balance, May 1 Direct Materials Direct Labor Manufacturing Overhead Balance, May 31 Transfer out to 54,000 7,000 31,000 9,000

Explanation / Answer

Solution :

Work In Process Inventory - Cutting Particulars Debit Particulars Credit Balance, may 1 $0.00 Transfer out to - WIP Finishing (a) $83,000.00 Direct materials $54,000.00 Balance, May 31 $9,000.00 Direct labor $7,000.00 Manufacturing overhead $31,000.00 Total $92,000.00 Total $92,000.00

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