Homework Answers
The journal entry is:
Debit work in process inventory $75000, Manufacturing overhead $15,000 and credit raw material inventory 90,000
Indirect material is a part of manufacturing overhead while direct material forms part of work in process
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DLOUD.CO Question 3 (0.5 points) Chastain Company assigned $75,000 of direct materials and $15,000 of indirect...
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...
a. The journal entry to assign costs of direct materials used in production includes which two...
a. The journal entry to assign costs of direct materials used in production includes which two of the following? Select the correct answer to complete each question. Multiple boxes may be checked if needed. Credit to Raw Materials Inventory Debit to Raw Materials Inventory Credit to Work in Process Inventory Debit to Factory Overhead Credit to Factory Overhead Debit to Work in Process Inventory b. The journal entry to record indirect materials used in production includes which two of the...
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...
Question 20 3 pts A materials requisition slip showed that materials requisitioned for Job 105 were...
Question 20 3 pts A materials requisition slip showed that materials requisitioned for Job 105 were $78,000 and materials for general use requisitioned were $15,000. The entry to record the transfer of materials from the storeroom to production is O "Debit" Finished Goods Inventory $93,000 and "Credit" Raw Materials Inventory $93,000 O "Debit" Finished Goods Inventory $78,000, "Debit" Manufacturing Overhead $15,000 and "Credit" Work-in-Process Inventory $93,000 O "Debit" Work-in-Process Inventory $78,000, "Debit" Manufacturing Overhead $15,000 and "Credit" Raw Materials Inventory...
114. Gullett Corporation had $26,000 of raw materials on hand on November 1. During the month,...
114. Gullett Corporation had $26,000 of raw materials on hand on November 1. During the month, the company purchased an additional $75,000 of raw materials. The journal entry to record the purchase of raw materials would include a A. debit to Raw Materials of $101.000 B. credit to Raw Materials of $75,000 C. debit to Raw Materials of $75,000 D. credit to Raw Materials of $101.000 115. In October, Raddatz Inc. incurred $73,000 of direct labor costs and S6,000 of...
Here is some basic data for Shannon Company: Cost of materials purchases on account $72,000 Cost...
Here is some basic data for Shannon Company: Cost of materials purchases on account $72,000 Cost of materials requisitioned (includes $2,900 of indirect) $53,400 Direct labor costs incurred $79,600 Manufacturing overhead costs incurred, including indirect materials $87,700 Cost of goods completed $257,450 Cost of goods sold $167,200 Beginning raw materials inventory $17,400 Beginning work in process inventory $33,600 Beginning finished goods inventory $35,300 Predetermined manufacturing overhead rate (as % of direct laborcost) 120% The journal entry to record the cost...
Starr Company reports the following information for August. Raw materials purchased on account Direct materials used...
Starr Company reports the following information for August. Raw materials purchased on account Direct materials used in production Factory wages earned (direct labor) Overhead rate $80, 200 $49,800 $15,800 125% of direct labor cost Prepare journal entries to record the following events. 1. Raw materials purchased. 2. Direct materials used in production. 3. Direct labor used in production. 4. Applied overhead. View transaction list Journal entry worksheet < A B C D Record raw materials purchased on account. Note: Enter...
The following information applies to the questions displayed below. Sweeten Company had no jobs in progress...
The following information applies to the questions displayed below. Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company...
Adelphia Manufacturing issued $80,000 of direct materials and $8,000 of indirect materials for production. Which of...
Adelphia Manufacturing issued $80,000 of direct materials and $8,000 of indirect materials for production. Which of the following journal entries would correctly record the transaction? 88,000 88.000 88,000 80,000 8,000 O A. Manufacturing Overhead Raw Materials Inventory O B . Raw Materials Inventory Finished Goods Inventory Work-in-Process Inventory C. Work-in - Process Inventory Raw Materials Inventory OD. Work-in - Process Inventory Manufacturing Overhead Raw Materials Inventory B.8.000 88.000 80,000 8.000 The cost of goods sold for Frye Manufacturing in the...
Starr Company reports the following information for August. Raw materials purchased on account $77,400 Direct materials...
Starr Company reports the following information for August. Raw materials purchased on account $77,400 Direct materials used in production $50,600 Factory wages earned (direct labor) $20,900 Overhead rate 120% of direct labor cost Prepare journal entries to record the following events. 1. Raw materials purchased. Direct materials used in production. 3. Direct labor used in production. 4. Applied overhead. Journal entry worksheet A B C D Record raw materials purchased on account. Note: Enter debits before credits Transaction General Journal...
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...
Question 20 3 pts A materials requisition slip showed that materials requisitioned for Job 105 were $78,000 and materials for general use requisitioned were $15,000. The entry to record the transfer of materials from the storeroom to production is O "Debit" Finished Goods Inventory $93,000 and "Credit" Raw Materials Inventory $93,000 O "Debit" Finished Goods Inventory $78,000, "Debit" Manufacturing Overhead $15,000 and "Credit" Work-in-Process Inventory $93,000 O "Debit" Work-in-Process Inventory $78,000, "Debit" Manufacturing Overhead $15,000 and "Credit" Raw Materials Inventory...
114. Gullett Corporation had $26,000 of raw materials on hand on November 1. During the month, the company purchased an additional $75,000 of raw materials. The journal entry to record the purchase of raw materials would include a A. debit to Raw Materials of $101.000 B. credit to Raw Materials of $75,000 C. debit to Raw Materials of $75,000 D. credit to Raw Materials of $101.000 115. In October, Raddatz Inc. incurred $73,000 of direct labor costs and S6,000 of...
Starr Company reports the following information for August. Raw materials purchased on account Direct materials used in production Factory wages earned (direct labor) Overhead rate $80, 200 $49,800 $15,800 125% of direct labor cost Prepare journal entries to record the following events. 1. Raw materials purchased. 2. Direct materials used in production. 3. Direct labor used in production. 4. Applied overhead. View transaction list Journal entry worksheet < A B C D Record raw materials purchased on account. Note: Enter...
The following information applies to the questions displayed below. Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company...
Adelphia Manufacturing issued $80,000 of direct materials and $8,000 of indirect materials for production. Which of the following journal entries would correctly record the transaction? 88,000 88.000 88,000 80,000 8,000 O A. Manufacturing Overhead Raw Materials Inventory O B . Raw Materials Inventory Finished Goods Inventory Work-in-Process Inventory C. Work-in - Process Inventory Raw Materials Inventory OD. Work-in - Process Inventory Manufacturing Overhead Raw Materials Inventory B.8.000 88.000 80,000 8.000 The cost of goods sold for Frye Manufacturing in the...
Starr Company reports the following information for August. Raw materials purchased on account $77,400 Direct materials used in production $50,600 Factory wages earned (direct labor) $20,900 Overhead rate 120% of direct labor cost Prepare journal entries to record the following events. 1. Raw materials purchased. Direct materials used in production. 3. Direct labor used in production. 4. Applied overhead. Journal entry worksheet A B C D Record raw materials purchased on account. Note: Enter debits before credits Transaction General Journal...
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