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.

Question

Quizplus · Accepted Answer

The Answer of 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.

METaylor Enterprises Had the Following Transactions During October