Reference no: EM13915713
Schoff Corporation has provided the following data for the most recent month:
Raw materials, beginning balance $ 10,600
Work in process, beginning balance $ 22,300
Finished goods, beginning balance $ 52,100
Raw materials purchases $ 75,300
Raw materials used in production (all direct materials) $ 78,000
Direct labor $ 72,900
Manufacturing overhead costs incurred $ 82,600
Manufacturing overhead applied $ 76,400
Cost of units completed and transferred from work in process to finished goods $ 230,000
Any overapplied or underapplied manufacturing overhead is closed to cost of goods sold ?
Finished goods are sold $ 264,000
Required: Prepare T-accounts for Raw Materials, Work in Process, Finished Goods, Manufacturing Overhead, and Cost of Goods Sold. Record the beginning balances and each of the transactions listed above. Finally, determine the ending balances. (Record the transactions in the given order. Omit the "$" sign in your response.)
Raw Materials:
Work in Process:
Finished Goods:
Manufacturing Overhead:
Cost of Goods Sold:
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