T Account Analysis with Unknowns
Flagstaff Enterprises makes flagpoles. Dan Dal ripple, the company’s new controller, can find only the following partial information for the past two months:
|
Account/Transaction |
May |
June |
|
Beginning Materials Inventory |
$ 36,240 |
$ e |
|
Beginning Work in Process Inventory |
56,480 |
f |
|
Beginning Finished Goods Inventory |
44,260 |
g |
|
Materials purchased |
a |
96,120 |
|
Direct materials requested |
82,320 |
h |
|
Direct labor costs |
b |
72,250 |
|
Overhead applied |
53,200 |
i |
|
Cost of units completed |
c |
221,400 |
|
Cost of Goods Sold |
209,050 |
j |
|
Ending Materials Inventory |
38,910 |
41,950 |
|
Ending Work in Process Inventory |
d |
k |
|
Ending Finished Goods Inventory |
47,940 |
51,180 |
The current year’s predetermined overhead rate is 80 percent of direct labor cost.
Required
Using the data provided and T accounts, compute the unknown values.