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Smith and Hodges Produce Notions for the Clothing Industry A Using T Accounts and Traditional Costing, Show the Flow

Question 146

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Smith and Hodges produce notions for the clothing industry. It uses four work cells for its four product lines. Just-in-time operations and costing methods have recently been adopted. A overhead rate of $9.50 per machine hour is applied to work cell #2. There were no beginning inventories on February 1. Operating costs for February for work cell #2 are as follows:
 Direct materials purchased on account and used 26,815 Parts purchased on account and used 19,320 Direct labor costs incurred 17,000 Overhead costs applied 59,400 Cost of goods completed during February 119,635 Ending work in process inventory 2,900 Ending finished goods inventory 1,850\begin{array}{|lr|}\hline \text { Direct materials purchased on account and used } & 26,815 \\\text { Parts purchased on account and used } & 19,320 \\\text { Direct labor costs incurred } & 17,000 \\\text { Overhead costs applied } & 59,400 \\\text { Cost of goods completed during February } & 119,635 \\\text { Ending work in process inventory } & 2,900 \\\text { Ending finished goods inventory } & 1,850 \\\hline\end{array}
a. Using T accounts and traditional costing, show the flow of costs.
Smith and Hodges produce notions for the clothing industry. It uses four work cells for its four product lines. Just-in-time operations and costing methods have recently been adopted. A overhead rate of $9.50 per machine hour is applied to work cell #2. There were no beginning inventories on February 1. Operating costs for February for work cell #2 are as follows: \begin{array}{|lr|} \hline \text { Direct materials purchased on account and used } & 26,815 \\ \text { Parts purchased on account and used } & 19,320 \\ \text { Direct labor costs incurred } & 17,000 \\ \text { Overhead costs applied } & 59,400 \\ \text { Cost of goods completed during February } & 119,635 \\ \text { Ending work in process inventory } & 2,900 \\ \text { Ending finished goods inventory } & 1,850 \\ \hline \end{array} a. Using T accounts and traditional costing, show the flow of costs. b. Using T accounts and a backflush costing system, show the flow of costs. c. What is the total cost of goods sold for the month of February?
Smith and Hodges produce notions for the clothing industry. It uses four work cells for its four product lines. Just-in-time operations and costing methods have recently been adopted. A overhead rate of $9.50 per machine hour is applied to work cell #2. There were no beginning inventories on February 1. Operating costs for February for work cell #2 are as follows: \begin{array}{|lr|} \hline \text { Direct materials purchased on account and used } & 26,815 \\ \text { Parts purchased on account and used } & 19,320 \\ \text { Direct labor costs incurred } & 17,000 \\ \text { Overhead costs applied } & 59,400 \\ \text { Cost of goods completed during February } & 119,635 \\ \text { Ending work in process inventory } & 2,900 \\ \text { Ending finished goods inventory } & 1,850 \\ \hline \end{array} a. Using T accounts and traditional costing, show the flow of costs. b. Using T accounts and a backflush costing system, show the flow of costs. c. What is the total cost of goods sold for the month of February?
Smith and Hodges produce notions for the clothing industry. It uses four work cells for its four product lines. Just-in-time operations and costing methods have recently been adopted. A overhead rate of $9.50 per machine hour is applied to work cell #2. There were no beginning inventories on February 1. Operating costs for February for work cell #2 are as follows: \begin{array}{|lr|} \hline \text { Direct materials purchased on account and used } & 26,815 \\ \text { Parts purchased on account and used } & 19,320 \\ \text { Direct labor costs incurred } & 17,000 \\ \text { Overhead costs applied } & 59,400 \\ \text { Cost of goods completed during February } & 119,635 \\ \text { Ending work in process inventory } & 2,900 \\ \text { Ending finished goods inventory } & 1,850 \\ \hline \end{array} a. Using T accounts and traditional costing, show the flow of costs. b. Using T accounts and a backflush costing system, show the flow of costs. c. What is the total cost of goods sold for the month of February?
Smith and Hodges produce notions for the clothing industry. It uses four work cells for its four product lines. Just-in-time operations and costing methods have recently been adopted. A overhead rate of $9.50 per machine hour is applied to work cell #2. There were no beginning inventories on February 1. Operating costs for February for work cell #2 are as follows: \begin{array}{|lr|} \hline \text { Direct materials purchased on account and used } & 26,815 \\ \text { Parts purchased on account and used } & 19,320 \\ \text { Direct labor costs incurred } & 17,000 \\ \text { Overhead costs applied } & 59,400 \\ \text { Cost of goods completed during February } & 119,635 \\ \text { Ending work in process inventory } & 2,900 \\ \text { Ending finished goods inventory } & 1,850 \\ \hline \end{array} a. Using T accounts and traditional costing, show the flow of costs. b. Using T accounts and a backflush costing system, show the flow of costs. c. What is the total cost of goods sold for the month of February?
b. Using T accounts and a backflush costing system, show the flow of costs.
Smith and Hodges produce notions for the clothing industry. It uses four work cells for its four product lines. Just-in-time operations and costing methods have recently been adopted. A overhead rate of $9.50 per machine hour is applied to work cell #2. There were no beginning inventories on February 1. Operating costs for February for work cell #2 are as follows: \begin{array}{|lr|} \hline \text { Direct materials purchased on account and used } & 26,815 \\ \text { Parts purchased on account and used } & 19,320 \\ \text { Direct labor costs incurred } & 17,000 \\ \text { Overhead costs applied } & 59,400 \\ \text { Cost of goods completed during February } & 119,635 \\ \text { Ending work in process inventory } & 2,900 \\ \text { Ending finished goods inventory } & 1,850 \\ \hline \end{array} a. Using T accounts and traditional costing, show the flow of costs. b. Using T accounts and a backflush costing system, show the flow of costs. c. What is the total cost of goods sold for the month of February?
Smith and Hodges produce notions for the clothing industry. It uses four work cells for its four product lines. Just-in-time operations and costing methods have recently been adopted. A overhead rate of $9.50 per machine hour is applied to work cell #2. There were no beginning inventories on February 1. Operating costs for February for work cell #2 are as follows: \begin{array}{|lr|} \hline \text { Direct materials purchased on account and used } & 26,815 \\ \text { Parts purchased on account and used } & 19,320 \\ \text { Direct labor costs incurred } & 17,000 \\ \text { Overhead costs applied } & 59,400 \\ \text { Cost of goods completed during February } & 119,635 \\ \text { Ending work in process inventory } & 2,900 \\ \text { Ending finished goods inventory } & 1,850 \\ \hline \end{array} a. Using T accounts and traditional costing, show the flow of costs. b. Using T accounts and a backflush costing system, show the flow of costs. c. What is the total cost of goods sold for the month of February?
Smith and Hodges produce notions for the clothing industry. It uses four work cells for its four product lines. Just-in-time operations and costing methods have recently been adopted. A overhead rate of $9.50 per machine hour is applied to work cell #2. There were no beginning inventories on February 1. Operating costs for February for work cell #2 are as follows: \begin{array}{|lr|} \hline \text { Direct materials purchased on account and used } & 26,815 \\ \text { Parts purchased on account and used } & 19,320 \\ \text { Direct labor costs incurred } & 17,000 \\ \text { Overhead costs applied } & 59,400 \\ \text { Cost of goods completed during February } & 119,635 \\ \text { Ending work in process inventory } & 2,900 \\ \text { Ending finished goods inventory } & 1,850 \\ \hline \end{array} a. Using T accounts and traditional costing, show the flow of costs. b. Using T accounts and a backflush costing system, show the flow of costs. c. What is the total cost of goods sold for the month of February?
Smith and Hodges produce notions for the clothing industry. It uses four work cells for its four product lines. Just-in-time operations and costing methods have recently been adopted. A overhead rate of $9.50 per machine hour is applied to work cell #2. There were no beginning inventories on February 1. Operating costs for February for work cell #2 are as follows: \begin{array}{|lr|} \hline \text { Direct materials purchased on account and used } & 26,815 \\ \text { Parts purchased on account and used } & 19,320 \\ \text { Direct labor costs incurred } & 17,000 \\ \text { Overhead costs applied } & 59,400 \\ \text { Cost of goods completed during February } & 119,635 \\ \text { Ending work in process inventory } & 2,900 \\ \text { Ending finished goods inventory } & 1,850 \\ \hline \end{array} a. Using T accounts and traditional costing, show the flow of costs. b. Using T accounts and a backflush costing system, show the flow of costs. c. What is the total cost of goods sold for the month of February?
c. What is the total cost of goods sold for the month of February?

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