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M E Taylor Enterprises Had the Following Transactions During October

Question 96

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M. E. Taylor Enterprises had the following transactions during October. There were no beginning inventory balances.
a. Purchased $37,300 of direct materials, on account.
b. Incurred direct labor costs, $29,250.
c. Applied $37,500 of overhead to production.
d. Completed units costing $88,450.
e. Sold units costing $76,130.
Using backflush costing, show the flow of costs using the T accounts below. Label each entry with the appropriate letter.
M. E. Taylor Enterprises had the following transactions during October. There were no beginning inventory balances. a. Purchased $37,300 of direct materials, on account. b. Incurred direct labor costs, $29,250. c. Applied $37,500 of overhead to production. d. Completed units costing $88,450. e. Sold units costing $76,130. Using backflush costing, show the flow of costs using the T accounts below. Label each entry with the appropriate letter.
M. E. Taylor Enterprises had the following transactions during October. There were no beginning inventory balances. a. Purchased $37,300 of direct materials, on account. b. Incurred direct labor costs, $29,250. c. Applied $37,500 of overhead to production. d. Completed units costing $88,450. e. Sold units costing $76,130. Using backflush costing, show the flow of costs using the T accounts below. Label each entry with the appropriate letter.
M. E. Taylor Enterprises had the following transactions during October. There were no beginning inventory balances. a. Purchased $37,300 of direct materials, on account. b. Incurred direct labor costs, $29,250. c. Applied $37,500 of overhead to production. d. Completed units costing $88,450. e. Sold units costing $76,130. Using backflush costing, show the flow of costs using the T accounts below. Label each entry with the appropriate letter.
M. E. Taylor Enterprises had the following transactions during October. There were no beginning inventory balances. a. Purchased $37,300 of direct materials, on account. b. Incurred direct labor costs, $29,250. c. Applied $37,500 of overhead to production. d. Completed units costing $88,450. e. Sold units costing $76,130. Using backflush costing, show the flow of costs using the T accounts below. Label each entry with the appropriate letter.

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