LO.5 & LO.7 (CGM; journal entries) Weatherguard manufactures mailboxes. The following data represent transactions and balances for December 2010, the company's ?rst month of operations.
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Purchased direct material on account
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$248,000
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Issued direct material to production
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186,000
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Accrued direct labor payroll
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134,000
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Paid factory rent
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3,600
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Accrued factory utilities
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16,200
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Recorded factory equipment depreciation
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15,800
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Paid supervisor salary
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6,400
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Ending Work in Process Inventory (6,000 units)
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35,000
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Ending Finished Goods Inventory (3,000 units) Sales on account ($24 per unit)
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? 648,000
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a. How many units were sold in December? How many units were completed in December?
b. What was the total cost of goods manufactured in December?
c. What was the per-unit cost of goods manufactured in December?
d. Prepare the journal entries to record the ?ow of costs for December. Weatherguard uses a perpetual inventory system and a single Manufacturing Overhead Control account. Assume that actual overhead is included in WIP inventory.