The following transactions occurred in April at Steve's Cabinets- a cu.pdf

The following transactions occurred in April at Steve's Cabinets, a custom cabinet firm. 1. Purchased $19 , 000 of materials on account. 2. Issued $1 , 100 of supplies from the materials inventory. 3. Purchased $11 , 800 of materials on account. 4. Paid for the materials purchased in transaction (1) using cash. 5. Issued $14 , 200 in direct materials to the production department. 6. Incurred direct labor costs of $23 , 000 , which were credited to Wages Payable. 7. Paid $21 , 800 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing plant. 8. Applied overhead on the basis of 125 percent of $23 , 000 direct labor costs. 9. Recognized depreciation on manufacturing property, plant, and equipment of $10 , 600 . The following balances appeared in the accounts of Steve's Cabinets for April. Required: a. Prepare journal entries to record the transactions. b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold. Complete this question by entering your answers in the tabs below. View transaction list View journal entry worksheet Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold. \begin{tabular}{|l|r|r|l|} \hline \multicolumn{3}{|c|}{ Work-In-Process Inventory } \\ \hline Beg. bal. & 7,200 & 0 & \\ \hline & & & Finished Goods \\ \hline 5. & 14,200 & & \\ \hline 8. & 28,750 & & \\ \hline 6. & 23,000 & & \\ \hline End. bal. & 73,150 & & \\ \hline & & & \\ \hline \end{tabular} Required A Required B ?.

The following transactions occurred in April at Steve's Cabinets, a custom cabinet firm. 1.
Purchased $19 , 000 of materials on account. 2. Issued $1 , 100 of supplies from the materials
inventory. 3. Purchased $11 , 800 of materials on account. 4. Paid for the materials purchased in
transaction (1) using cash. 5. Issued $14 , 200 in direct materials to the production department. 6.
Incurred direct labor costs of $23 , 000 , which were credited to Wages Payable. 7. Paid $21 ,
800 cash for utilities, power, equipment maintenance, and other miscellaneous items for the
manufacturing plant. 8. Applied overhead on the basis of 125 percent of $23 , 000 direct labor
costs. 9. Recognized depreciation on manufacturing property, plant, and equipment of $10 , 600 .
The following balances appeared in the accounts of Steve's Cabinets for April. Required: a.
Prepare journal entries to record the transactions. b. Prepare T-accounts to show the flow of costs
during the period from Materials Inventory through Cost of Goods Sold. Complete this question
by entering your answers in the tabs below. View transaction list View journal entry worksheet
Prepare T-accounts to show the flow of costs during the period from Materials Inventory through
Cost of Goods Sold. begin{tabular}{|l|r|r|l|} hline multicolumn{3}{|c|}{ Work-In-Process
Inventory }  hline Beg. bal. & 7,200 & 0 &  hline & & & Finished Goods  hline 5. &
14,200 & &  hline 8. & 28,750 & &  hline 6. & 23,000 & &  hline End. bal. & 73,150 & &
 hline & & &  hline end{tabular} Required A Required B ?

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The following transactions occurred in April at Steve's Cabinets- a cu.pdf

  • 1. The following transactions occurred in April at Steve's Cabinets, a custom cabinet firm. 1. Purchased $19 , 000 of materials on account. 2. Issued $1 , 100 of supplies from the materials inventory. 3. Purchased $11 , 800 of materials on account. 4. Paid for the materials purchased in transaction (1) using cash. 5. Issued $14 , 200 in direct materials to the production department. 6. Incurred direct labor costs of $23 , 000 , which were credited to Wages Payable. 7. Paid $21 , 800 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing plant. 8. Applied overhead on the basis of 125 percent of $23 , 000 direct labor costs. 9. Recognized depreciation on manufacturing property, plant, and equipment of $10 , 600 . The following balances appeared in the accounts of Steve's Cabinets for April. Required: a. Prepare journal entries to record the transactions. b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold. Complete this question by entering your answers in the tabs below. View transaction list View journal entry worksheet Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold. begin{tabular}{|l|r|r|l|} hline multicolumn{3}{|c|}{ Work-In-Process Inventory } hline Beg. bal. & 7,200 & 0 & hline & & & Finished Goods hline 5. & 14,200 & & hline 8. & 28,750 & & hline 6. & 23,000 & & hline End. bal. & 73,150 & & hline & & & hline end{tabular} Required A Required B ?