T Account Analysis with Unknowns
Hard Core Enterprises makes peripheral equipment for computers. Emily Vit, the company’s new controller, can find only the following partial information for the past two months:
|
Account/Transaction |
July |
August |
|
Beginning Materials Inventory |
$ 52,000 |
$ e |
|
Beginning Work in Process Inventory |
24,000 |
f |
|
Beginning Finished Goods Inventory |
36,000 |
g |
|
Materials purchased |
a |
31,000 |
|
Direct materials requested |
77,000 |
h |
|
Direct labor costs |
b |
44,000 |
|
Overhead applied |
53,200 |
i |
|
Cost of units completed |
C |
167,000 |
|
Cost of Goods Sold |
188,000 |
j |
|
Ending Materials Inventory |
27,000 |
8,000 |
|
Ending Work in Process Inventory |
D |
k |
|
Ending Finished Goods Inventory |
12,000 |
19,000 |
The current year’s predetermined overhead rate is 110 percent of direct labor cost.
Required
Using the data provided and T accounts, compute the unknown values.