Homework Answers
Journal entry
| No | Account and explanation | Debit | Credit |
| 1 | Work in process-Mixing department | 40600 | |
| Direct material | 40600 | ||
| (To record material used) | |||
| 2 | Work in process-Mixing department | 16900 | |
| Wages payable | 16900 | ||
| (To record direct labor) | |||
| 3 | Work in process-Mixing department | 46500 | |
| Manufacturing overhead | 46500 | ||
| (To record overhead) | |||
| 4 | Work in process-Drying department | 88400 | |
| Work in process-Mixing department | 88400 | ||
| (To record department cost) | |||
| 5 | Finished goods | 112100 | |
| Work in process-drying department | 112100 | ||
| (To record finished goods) | |||
| 6 | Cost of goods sold | 99000 | |
| Finished goods | 99000 | ||
| (To record cost of goods sold) | |||
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Bayas Corporation uses process costing. A number of transactions that occurred in June are listed below....
Bayas Corporation uses process costing. A number of transactions that occurred in June are listed below....
Bayas Corporation uses process costing. A number of transactions
that occurred in June are listed below.
(1) Raw materials that cost $40,400 are withdrawn from the
storeroom for use in the Mixing Department. All of these raw
materials are classified as direct materials.
(2) Direct labor costs of $16,700 are incurred, but not yet
paid, in the Mixing Department.
(3) Manufacturing overhead of $46,300 is applied in the Mixing
Department using the department’s predetermined overhead rate.
(4) Units with a...
Bayas Corporation uses process costing. A number of transactions that occurred in June are listed below....
Bayas Corporation uses process costing. A number of transactions that occurred in June are listed below. (1) Raw materials that cost $41,100 are withdrawn from the storeroom for use in the Mixing Department. All of these raw materials are classified as direct materials. (2) Direct labor costs of $17,400 are incurred, but not yet paid, in the Mixing Department. (3) Manufacturing overhead of $47,000 is applied in the Mixing Department using the department's predetermined overhead rate. (4) Units with a...
Bayas Corporation uses process costing. A number of transactions that occurred in June are listed below....
Bayas Corporation uses process costing. A number of transactions that occurred in June are listed below. (1) Raw materials that cost $41,800 are withdrawn from the storeroom for use in the Mixing Department. All of these raw materials are classified as direct materials. (2) Direct labor costs of $18,100 are incurred, but not yet paid, in the Mixing Department. (3) Manufacturing overhead of $47,700 is applied in the Mixing Department using the department's predetermined overhead rate. (4) Units with a...
Bayas Corporation uses process costing. A number of transactions that occurred in June are listed below....
Bayas Corporation uses process costing. A number of transactions that occurred in June are listed below. (1) Raw materials that cost $40,300 are withdrawn from the storeroom for use in the Mixing Department. All of these raw materials are classified as direct materials. (2) Direct labor costs of $16,600 are incurred, but not yet paid, in the Mixing Department. (3) Manufacturing overhead of $46,200 is applied in the Mixing Department using the department’s predetermined overhead rate. (4) Units with a...
Show all supporting computations! 1. Chase Inc. uses the weighted average method in its process costing...
Show all supporting computations! 1. Chase Inc. uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Cost $6,000 $9.900 Percent Complete 50% Materials costs........ .. Conversion costs.............. 30% A total of 9,200 units were started and 8,200 units were transferred to the second processing department during the month. The following costs were incurred...
The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw...
The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materials purchased on account, $210,000 b. Raw materials used in production, $190,000 ($152,000 direct materials and $38,000 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $104,000. e. Other manufacturing overhead costs accrued during October , $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $6...
Check my work The Polaris Company uses a job-order costing system. The following transactions occurred in...
Check my work The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $210,000. b. Raw materials used in production, $188,000 ($150,400 direct materials and $37,600 indirect materials). C. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $210,000 b. Raw materials used in production, $191,000 ($152,800 direct materials and $38,200 Indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $20,000. d. Depreciation recorded on factory equipment, $104,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $7 per...
The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materlals pu...
The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materlals purchased on account, $210,000. b. Raw materlals used in production, $188,000 ($150,400 direct materials and $37,600 indirect materlals). c. Accrued direct labor cost of $50,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $130,000. t The company applies manufacturing overhead cost too production using a predetermined rate of $5 per...
The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw...
The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materials purchased on account, $209,000 b. Raw materials used in production, $191,000 ($152.800 direct materials and $38,200 indirect materials) c. Accrued direct labor cost of $48,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment. $104,000. e. Other manufacturing overhead costs accrued during October, $130,000 1. The company applies manufacturing overhead cost to production using a predetermined rate of $6 per...
Bayas Corporation uses process costing. A number of transactions
that occurred in June are listed below.
(1) Raw materials that cost $40,400 are withdrawn from the
storeroom for use in the Mixing Department. All of these raw
materials are classified as direct materials.
(2) Direct labor costs of $16,700 are incurred, but not yet
paid, in the Mixing Department.
(3) Manufacturing overhead of $46,300 is applied in the Mixing
Department using the department’s predetermined overhead rate.
(4) Units with a...
Bayas Corporation uses process costing. A number of transactions that occurred in June are listed below. (1) Raw materials that cost $41,100 are withdrawn from the storeroom for use in the Mixing Department. All of these raw materials are classified as direct materials. (2) Direct labor costs of $17,400 are incurred, but not yet paid, in the Mixing Department. (3) Manufacturing overhead of $47,000 is applied in the Mixing Department using the department's predetermined overhead rate. (4) Units with a...
Bayas Corporation uses process costing. A number of transactions that occurred in June are listed below. (1) Raw materials that cost $41,800 are withdrawn from the storeroom for use in the Mixing Department. All of these raw materials are classified as direct materials. (2) Direct labor costs of $18,100 are incurred, but not yet paid, in the Mixing Department. (3) Manufacturing overhead of $47,700 is applied in the Mixing Department using the department's predetermined overhead rate. (4) Units with a...
Show all supporting computations! 1. Chase Inc. uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Cost $6,000 $9.900 Percent Complete 50% Materials costs........ .. Conversion costs.............. 30% A total of 9,200 units were started and 8,200 units were transferred to the second processing department during the month. The following costs were incurred...
The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materials purchased on account, $210,000 b. Raw materials used in production, $190,000 ($152,000 direct materials and $38,000 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $104,000. e. Other manufacturing overhead costs accrued during October , $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $6...
Check my work The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $210,000. b. Raw materials used in production, $188,000 ($150,400 direct materials and $37,600 indirect materials). C. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $210,000 b. Raw materials used in production, $191,000 ($152,800 direct materials and $38,200 Indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $20,000. d. Depreciation recorded on factory equipment, $104,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $7 per...
The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materlals purchased on account, $210,000. b. Raw materlals used in production, $188,000 ($150,400 direct materials and $37,600 indirect materlals). c. Accrued direct labor cost of $50,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $130,000. t The company applies manufacturing overhead cost too production using a predetermined rate of $5 per...
The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materials purchased on account, $209,000 b. Raw materials used in production, $191,000 ($152.800 direct materials and $38,200 indirect materials) c. Accrued direct labor cost of $48,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment. $104,000. e. Other manufacturing overhead costs accrued during October, $130,000 1. The company applies manufacturing overhead cost to production using a predetermined rate of $6 per...
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