Score 0 of 1 pt XE1819 similar to Complete the missing amoun

Score: 0 of 1 pt XE18-19 (similar to) Complete the missing amounts and labels in the T-accounts 2 of 5 (5 complete) HW Score: 20%, 1 of 5 pts : Question Help Click the icon to view the T-accounts.) Begin with the Work-in-Process-Cutting T-account, then complete each of the remaining T-accounts. (Abbreviations used: COGS = Cost of Goods Sold, FG- Finished Goods, WIP = Work-in-Process) Work-in-Process Inventory-Cutting Balance, May 1 Direct Materials Direct Labor Manufacturing Overhead Balance, May 31 Transfer out to 54,000 7,000 31,000 9,000

Solution

Solution :

Work In Process Inventory - Cutting
Particulars	Debit	Particulars	Credit
Balance, may 1	$0.00	Transfer out to - WIP Finishing (a)	$83,000.00
Direct materials	$54,000.00	Balance, May 31	$9,000.00
Direct labor	$7,000.00
Manufacturing overhead	$31,000.00
Total	$92,000.00	Total	$92,000.00