Eppich Corporation has provided the following data for the m

Eppich Corporation has provided the following data for the most recent month:

Transactions:

Required:

Complete the following T-accounts by recording the beginning balances and each of the transactions listed above. Raw Materials, Work in Progress, Finished Goods, Manufacturing Overhead, and Cost of Goods Sold.

Raw materials, beginning balance	$	19,500
Work in process, beginning balance	$	32,400
Finished Goods, beginning balance	$	50,400

Solution

Raw Materials Inventory Work in Process Inventory Debit Credit Debit Credit Beg. Bal. 19500 Beg. Bal. 32400 Purchases (1) 79300 77700 Requisitions (2) Direct Materials (2) 77700 190000 Completed and transferred (6) 21100 End. Bal. Direct labor (3) 52400 Manufacturing overhead (5) 72400 44900 End. Bal. Finished Goods Inventory Manufacturing Overhead Debit Credit Debit Credit Beg. Bal. 50400 Manufacturing overhead (4) 91500 72400 Overheads applied (5) Completed (6) 190000 221100 Cost of goods sold 19100 Underapplied overheads (7) 19300 End. Bal. Cost of Goods Sold (COGS) Debit Credit Finished goods sold (8) 221100 Underapplied overheads (7) 19100