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....
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Record the requisition of direct and indirect materials.
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Record payment to computer consultant to reprogram factory
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Record the entry for direct and indirect labor, paid in
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Record the entry to apply overhead to jobs 136, 138 and 139.
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Record the transfer of completed jobs 136,138 and 139 to
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Record the entry for sales on account for Jobs 136 and 138.
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Record the entry...
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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...
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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...
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in a job order costing system, raw material requisitioned as direct
materials are debited to________; indirect materials are debited
to_______.
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