Calculate the balances at the end of november

Question

Manufacturing Cost Flows with Machine Hours Allocation

On November 1, Robotics Manufacturing Company’s beginning balances in manufacturing accounts an finished goods inventory were as follows:

Raw materials            $9,000

Manufacturing Supplies    500

Work-in-progress        5,000

Manufacturing overhead   0

Finished goods            25,000

During November, Robotics Manufacturing completed the following manufacturing transactions:

1. Purchased raw material costing $58,000 and manufacturing supplies costing $3,000 on account
2. Requisitioned raw materials costing $40,000 to the factory
3. Incurred direct labor costs of $27,000 and indirect labor costs of $4,800
4. Used manufacturing supplies costing $3,000
5. Recorded manufacturing depreciation of $15,000
6. Miscellaneous payables for manufacturing overhead totaled $3,600
7. Applied manufacturing overhead, based on 2,250 machine hours, at a predetermined rate of $10 per machine hour.
8. Completed jobs costing $85,000
9. Finished goods costing $96,000 were sold

1. Prepare “T” accounts showing the flow of costs through all manufacturing accounts, finished goods inventory, and cost of goods sold.
2. Calculate the balances at the end of November for Work-in-progress Inventory and Finished Goods Inventory.