ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges...
ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to WIP, while indirect materials are charged to the Factory Overhead account. During the month of April, the company has the following cost information:
Total materials (direct and indirect) purchased: $91,100
Indirect materials issued to production: 27,700
Total materials issued to production: 116,000
Beginning materials inventory: 52,600
The amount of direct materials issued is:
A. 88,300
B. 52,600
C. 116,000
D. 27,700
E. 91,100
Homework Answers
Answer:
Direct material issued = Total materials issued to production - Indirect materials issued to production
= 116000 - 27700
= $88300
Correct option is (A)
Add Answer to:
ABC Company uses a Materials Inventory account to record both
direct and indirect materials. ABC charges...
ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges...
ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to WIP, while indirect materials are charged to the Factory Overhead account. During the month of April, the company has the following cost information: Total materials (direct and indirect) purchased $ 91,000 Indirect materials issued to production 10,500 Total materials issued to production 133,000 Beginning materials inventory 52,500 The debit to the Factory Overhead Account is: A. $10,500 B. $91,000 C. $122,500...
ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges...
ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to WIP, while indirect materials are charged to the Factory Overhead account. During the month of April, the company has the following cost information: Total materials (direct and indirect) purchased Indirect materials issued to production Total materials issued to production Beginning materials inventory $ 90,000 30,000 110,000 50,000 The ending materials inventory cost is: $80,000. $90,000. $30,000. $50,000. $110,000. Maple Mount Fishery...
ABC charges direct materials to WIP, while indirect materials are charged to the Factory Overhead account....
ABC charges direct materials to WIP, while indirect materials are charged to the Factory Overhead account. Total materials (direct and indirect) purchased 90000 Indirect materials issued to production 24000 Total materials issued to production 121000 Beg. materials inventory 53000 Find the debit to the Factory Overhead account
Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter...
Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Ending Inventory Inventory 73,500 75,500 93,300 69,800 26,100 14,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit $ 40,000 Direct materials used-Cutting 22,500 Direct materials...
1Record raw material purchases on credit. 2 Record the requisition of direct and indirect materials. 3...
1Record raw material purchases on credit.
2
Record the requisition of direct and indirect materials.
3
Record payment to computer consultant to reprogram factory
equipment.
4
Record the entry for direct and indirect labor, paid in
cash.
5
Record the entry to apply overhead to jobs 136, 138 and 139.
6
Record the transfer of completed jobs 136,138 and 139 to
finished goods.
7
Record the entry for sales on account for Jobs 136 and 138.
8
Record the entry...
Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter...
Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Ending Inventory Inventory 223,500 150,500 243, 300 116,300 56,100 44,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching $115,000...
in a job order costing system, raw material requisitioned as direct materials are debited to________; indirect...
in a job order costing system, raw material requisitioned as direct
materials are debited to________; indirect materials are debited
to_______.
$139.000. Save Question 24 (2 points) s Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195.000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150.000, paid in cash, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of...
Cost of materials purchases on account Cost of materials requisitioned (includes $2,300 of indirect) Direct labor...
Cost of materials purchases on account Cost of materials requisitioned (includes $2,300 of indirect) Direct labor costs incurred Manufacturing overhead costs incurred, including indirect materials Cost of goods completed Cost of goods sold Beginning raw materials inventory Beginning work in process inventory Beginning finished goods inventory Predetermined manufacturing overhead rate (as % of direct labor cost) $77,900 $45,300 $80,300 $98,800 $276,900 $149,000 $19,600 $35,300 $25,700 115% The journal entry to record actual manufacturing overhead costs includes a O A. debit...
Comet Company accumulated the following account information for the year. Beginning raw materials inventory Indirect materials...
Comet Company accumulated the following account information for the year. Beginning raw materials inventory Indirect materials cost Indirect labor cost Maintenance of factory equipment Direct labor cost $6,500 2,500 5,500 3,300 7,500 Using the above information, total factory overhead costs would be: Multiple Choice ο $17,300. ο $14,500. ο $18,800. ο $11,300. Prev 20 at 20
a. Materials purchases (on credit).b. Direct materials used in production.c. Direct labor paid and...
Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $383,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $28,000; factory rent, $34.000; factory utilities, $19,000; and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow. a. Materials purchases (on...
ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to WIP, while indirect materials are charged to the Factory Overhead account. During the month of April, the company has the following cost information: Total materials (direct and indirect) purchased Indirect materials issued to production Total materials issued to production Beginning materials inventory $ 90,000 30,000 110,000 50,000 The ending materials inventory cost is: $80,000. $90,000. $30,000. $50,000. $110,000. Maple Mount Fishery...
Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Ending Inventory Inventory 73,500 75,500 93,300 69,800 26,100 14,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit $ 40,000 Direct materials used-Cutting 22,500 Direct materials...
1Record raw material purchases on credit.
2
Record the requisition of direct and indirect materials.
3
Record payment to computer consultant to reprogram factory
equipment.
4
Record the entry for direct and indirect labor, paid in
cash.
5
Record the entry to apply overhead to jobs 136, 138 and 139.
6
Record the transfer of completed jobs 136,138 and 139 to
finished goods.
7
Record the entry for sales on account for Jobs 136 and 138.
8
Record the entry...
Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Ending Inventory Inventory 223,500 150,500 243, 300 116,300 56,100 44,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching $115,000...
in a job order costing system, raw material requisitioned as direct
materials are debited to________; indirect materials are debited
to_______.
$139.000. Save Question 24 (2 points) s Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195.000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150.000, paid in cash, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of...
Cost of materials purchases on account Cost of materials requisitioned (includes $2,300 of indirect) Direct labor costs incurred Manufacturing overhead costs incurred, including indirect materials Cost of goods completed Cost of goods sold Beginning raw materials inventory Beginning work in process inventory Beginning finished goods inventory Predetermined manufacturing overhead rate (as % of direct labor cost) $77,900 $45,300 $80,300 $98,800 $276,900 $149,000 $19,600 $35,300 $25,700 115% The journal entry to record actual manufacturing overhead costs includes a O A. debit...
Comet Company accumulated the following account information for the year. Beginning raw materials inventory Indirect materials cost Indirect labor cost Maintenance of factory equipment Direct labor cost $6,500 2,500 5,500 3,300 7,500 Using the above information, total factory overhead costs would be: Multiple Choice ο $17,300. ο $14,500. ο $18,800. ο $11,300. Prev 20 at 20
Most questions answered within 3 hours.
-
Computer Programming II CS141(Java)
Mention the appropriate relationship between following
classes:
HOD–StaffMember
Car–Ferrari
Student-Address
BankAccount–FixedAccount
House-Building...
asked 2 hours ago -
Assume one of your finals has 50 questions on it, and
lucky for you, it's all...
asked 3 hours ago -
Rice Products in Bangladesh
Business behavior is derived in large part from the basic cultural
environment...
asked 5 hours ago -
The following base sequence is found for a mRNA fragment from
wild-type E. coli: 5'- UAUCAGUAGAUAAUGUAACC-3'...
asked 5 hours ago -
For this exercise, round all regression parameters to three
decimal places.
One of the two tables...
asked 5 hours ago -
What is the 5% level of significance for mean = 3.60, standard
deviation = 0.94, and...
asked 5 hours ago -
Prior to beginning work on this discussion, please read the
article by Hayley Peterson, 15 Companies...
asked 6 hours ago -
Which pair of aqueous solutions, when mixed, will form a
precipitate?
A) NaNO3 and AgC2H3O2
B)...
asked 6 hours ago -
1-Write an algorithm to get two numbers from the user (as
inputs) and calculate the sum...
asked 9 hours ago -
Define white-collar crime. What is the difference between
offender and offense-based definitions of white-collar crime? What...
asked 10 hours ago -
Consider a reaction which is 1st order with respect to A and 1st
order with respect...
asked 10 hours ago -
c++
The length of the hypotenuse of a right-angled triangle is the
square root of the...
asked 10 hours ago