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The following partially completed T-accounts summarize transactions for Faaberg Corporation during ...

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The following partially completed T-accounts summarize transactions for Faaberg Corporation during ...

The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year:

Raw Materials
Debit		Credit
Beginning Balance	5,250		9,500
	5,450

Work in Process
Debit		Credit
Beginning Balance	4,350		22,450
	6,450
	8,750
	8,550

Finished Goods
Debit		Credit
Beginning Balance	2,450		20,650
	22,450

Manufacturing Overhead
Debit		Credit
	3,050		8,550
	3,750
	3,450

Wages & Salaries Payable
Debit		Credit
	20,650	Beginning Balance	2,750
			12,500

Cost of Goods Sold
Debit		Credit
	20,650

The direct labor cost was:

▸ $13,850

▸ $20,650

▸ $8,750

▸ $11,750

Textbook

Introduction to Managerial Accounting: Brewer Edition: 9e

Edition: 9^th

Authors: Brewer, Garrison, Noreen

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