Post the above transactions to t-accounts cash raw

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Reference no: EM13588601

Granger Products recorded the following transactions for the just completed month. The company had no beginning inventories.

1. Post the above transactions to T-accounts.( Cash, Raw Materials, Work in Process, Finished Goods, Manufacturing Overhead, Cost of Goods Sold) e-f is where the confusion lies

2.	Determine the cost of goods sold for the period.

a.	$75,000 in raw materials were purchased for cash.
b.	$72,500 in raw materials were requisitioned for use in production. Of this amount, $65,500 was for direct materials and the remainder was for indirect materials.
c.	Total labor wages of $152,800 were incurred and paid. Of this amount, $134,800 was for direct labor and the remainder was for indirect labor.
d.	Additional manufacturing overhead costs of $125,400 were incurred and paid.
e.	Manufacturing overhead costs of $168,500 were applied to jobs using the company's predetermined overhead rate.
f.	All of the jobs in progress at the end of the month were completed and shipped to customers.
g.	Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold.

Reference no: EM13588601

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