Using the T accounts shown below, record the followingactivities. a) Materials p

Question

Using the T accounts shown below, record the followingactivities.

a)      Materials purchased during thequarter were $210,000.

b)      Materials issued to the factorywere $228,000 (total); indirect materials were $16,600

c)      Labor costs for the factorywere $363,000 (total); indirect labor costs were $41,000

d)      Various manufacturing overheadexpenses were paid for a total of $85,100

e)      Manufacturing overhead costsare allocated to production at 30% of direct labor costs

f)        The cost of goodscompleted was $621,000

Problem 3 – 14 points

Explanation / Answer

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