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Sagot :
Answer:
Kapoor Company
1. Journal Entries:
Debit Direct materials, $99,500
Debit Indirect materials, $14,800
Credit Accounts payable $114,300
Debit Work-in-Process $81,500
Credit Direct materials, $81,500
Debit Factory Overhead $8,800
Credit Indirect materials, $8,800
Debit Work-in-Process $67,000
Credit Direct labor, $67,000
Debit Factory overhead $18,770
Credit Indirect labor, $18,770
Debit Factory overhead $46,200
Credit Accounts Payable $46,200
Debit Work-in-Process $73,700
Credit Factory overhead $73,700
Debit Finished Goods Inventory cost $235,700
Credit Work-in-Process $235,700
Debit Cost of goods sold $212,000
Credit Finished goods $212,000
Debit Accounts Receivable $296,800
Credit Sales Revenue $296,800
2. T-account for
Overhead Control:
Account Titles Debit Credit
Indirect materials, $8,800
Indirect labor, $18,770
Accounts Payable $46,200
Work-in-Process $73,700
Underapplied overhead 70
3. T-account for
Work-in-Process Inventory
Account Titles Debit Credit
Beginning balance $10,000
Direct materials, $81,500
Direct labor, $67,000
Factory overhead $73,700
Finished Goods Inventory cost $235,700
Overapplied overhead 3,500
Explanation:
a) Data and Analysis:
Direct materials, $99,500
Indirect materials, $14,800
Accounts payable $114,300
Work-in-Process $81,500
Direct materials, $81,500
Factory Overhead $8,800
indirect materials, $8,800
Work-in-Process $67,000
direct labor, $67,000
Factory overhead $18,770
indirect labor, $18,770
Factory overhead $46,200
Accounts Payable $46,200
Work-in-Process $73,700
Factory overhead $73,700 ($67,000 * 110%)
Finished Goods Inventory cost $235,700
Work-in-Process $235,700
Cost of goods sold $212,000
Finished goods $212,000
Accounts Receivable $296,800
Sales Revenue $296,800 ($212,000 * 140%)
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