Reference no: EM132529113

Walsh Co. reported the following (below) from the previous accounting period. They purchase all raw materials through cash. Walsh Co. determined manufacturing overhead by direct labor hours (predetermined overhead rate of 9$llabor hour) When completing the requirements, close out any applied manufacturing overhead to cost of goods sold:

Purchases of raw materials ----- 32,000

Indirect materials included in manufacturing overhead ----- 5,000

Direct labor cost ----- 58,000

Beginning Ending Raw materials inventory ----- $12,000-816,000

Work in process inventory-$48,000-$53,000

Finished goods inventory ----- 541,000-847,000

M\Walsh Co. reports 11,000

direct labor hours - $97,000 actual manufacturing overhead costs.

Question 1: Construct the Walsh Co. Schedule of Cost of Goods Manufactured for the accounting period.

Question 2: Construct the Walsh Co Schedule of Cost of Goods Sold for the accounting period.

Question 3: Identify the journal entry recording raw materials purchase.

Question 4: With the results Walsh Co. Reports, prepare their T-Account for Work in process for the accounting period.