lalnilam1
Jul 3, 2012, 05:38 PM
Comfort Home Furnishing Company incurred the following costs during the year:
Direct material $348000
Direct labour 648000
Manufacturing overhead applied 360000
Products costing $120000 were finished, and products costing $264000 were sold on credit for $390000. There were no purchases of raw material during the year. The balances in the firm’s inventory accounts at the beginning of the year were as follows:
Raw materials $454000
Work in process 36000
Finished goods 60000
Required
Prepare ledger accounts to show the flow of cots through the company’s manufacturing accounts during the year.
Direct material $348000
Direct labour 648000
Manufacturing overhead applied 360000
Products costing $120000 were finished, and products costing $264000 were sold on credit for $390000. There were no purchases of raw material during the year. The balances in the firm’s inventory accounts at the beginning of the year were as follows:
Raw materials $454000
Work in process 36000
Finished goods 60000
Required
Prepare ledger accounts to show the flow of cots through the company’s manufacturing accounts during the year.