1. Match the phrase to the right answer. -Type of labor incurred by hands-on factory works...
1. Match the phrase to the right answer.
-Type of labor incurred by hands-on factory works -Document for capturing labor hours -Account where jobs are born -Type of Overhead put into WIP when using Job Costing -Landing place for sold jobs -Cost of finished products for the period -Location of all completed jobs awaiting sale
Answers to choose from are: Direct, Actual, Timecard, Allocated, Work in Process(WIP), Cost of goods manufactured, finished goods, cost of goods sold
Homework Answers
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Phrases matched to right answer as below:
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1. Match the phrase to the right answer.
-Type of labor incurred by hands-on factory works...
1. Match the phrase to the right answer. -Type of labor incurred by hands on factory...
1. Match the phrase to the right answer. -Type of labor incurred by hands on factory workers -Document for capturing labor hours -Account where jobs are born -Type of Overhead put into WIP when using Job Costing -Landing place for sold jobs -Cost of finished products for the period Location of all completed jobs awaiting sale Some Options are: Direct, Actual, Timecard, Allocated, Work in process, Cost of goods manufactured, Finished Goods, Cost of goods sold. 2. Put the following...
Match the phrase to the right answer. (finished goods, actual, cost of goods manufactured, work in...
Match the phrase to the right answer. (finished goods, actual, cost of goods manufactured, work in process, direct, estimated, raw materials inventory, cost of goods sold, allocated, and timecard) - Accounts where job are born - Type of labor incurred by hands on factory workers - Document for capturing labor hours - Type of Overhead put into WIP when using Job Costing - Landing place for sold jobs - Cost of finished products for the period - Location of all...
Chapter 3 Module: ACG2O71.CMB-2086 00057 Quie: BB 3-6 Hint: This brain booster is more of a...
Chapter 3 Module: ACG2O71.CMB-2086 00057 Quie: BB 3-6 Hint: This brain booster is more of a terminology/conceptual question. no calculations are required: llabus signments Text D Question 1 2 pts odules nedule Match the phrase to the right answer. 1 Module 2 Module Type of labor incurred by hands on factory workers [Choose . 3 Module Document for capturing labor hours 4 Module [Choose) 6 Module Account where jobs are bom [Choose 7 Module 8 Module Type of Overhead put...
1)A manufacturer's cost of goods manufactured is the sum of direct materials, direct labor, and factory...
1)A manufacturer's cost of goods manufactured is the sum of direct materials, direct labor, and factory overhead costs incurred in producing products. True or False 2) Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $1,500 of direct materials and used $3,000 of direct labor. The job was not finished by the end of September, but needed an additional $2,000 of direct materials and additional direct labor of $4,500 to finish...
Labels Actual factory overhead Depreciation of equipment Direct labor used Direct materials used Factory overhead applied...
Labels
Actual factory overhead
Depreciation of equipment
Direct labor used
Direct materials used
Factory overhead applied
Factory rent
Factory utilities
Indirect labor
Indirect materials
Required information (The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $27,000; factory rent, $39,000; factory utilities, $24,000; and factory...
Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost...
Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct - labor costs $152,000 85,000 127,000 148,000 286.000 259,000 35,000 65,000 53,000 140 percent The ending balance of work-in-process inventory is O A. $413,000 O B. $454,800 OC. $168,800 OD. $127,000
(c) (d) Record the purchase of raw materials, the factory labor costs incurred, and the manufacturing...
(c) (d) Record the purchase of raw materials, the factory labor costs incurred, and the manufacturing overhead costs incurred during the month of January. Record the assignment of direct materials, direct labor, and manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in (a). Post all costs to the job cost sheets as necessary Total the job cost sheets for any job(s) completed during the month. Record the completion of any job(s) during the...
Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance,...
Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) $400,00e Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 15,00e 130,e00 8,000 240,000 10,000 $473,00e $ 20,00e 30,000 $ 40,000e $ 70,00e The company uses a predetermined overhead rate of $25 per machine-hour to apply...
Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing...
Journalize the June transactions: (1) for purchase of raw
materials, factory labor costs incurred, and manufacturing overhead
cost incurred; (2) assignment of direct materials, labor, and
overhead to production; and (3) completion of jobs and sale of
goods.
Post the entries to Work in Process Inventory.
Reconcile the balance in Work in Process Inventory with the costs
of unfinished jobs.
Prepare a cost of goods manufactured schedule for June.
Case Inc. is a construction company specializing in custom patios. The...
U Labor and Indirect Labor are debited and D) Work in Process Inventory and Factory credited....
U Labor and Indirect Labor are debited and D) Work in Process Inventory and Factory credited. ) Cost of Goods Manufactured is debited and Direct Labor is credited. TUESS Inventory is credited. Cory is debited and Factory Overhead is credited. direct Labor are debited and Factory Wages Payable is credited. iventory and Factory Overhead are debited and Factory Wages Payable is 34) In a process costing system, the purch Inventory a process costing system, the purchase of raw materials is...
Chapter 3 Module: ACG2O71.CMB-2086 00057 Quie: BB 3-6 Hint: This brain booster is more of a terminology/conceptual question. no calculations are required: llabus signments Text D Question 1 2 pts odules nedule Match the phrase to the right answer. 1 Module 2 Module Type of labor incurred by hands on factory workers [Choose . 3 Module Document for capturing labor hours 4 Module [Choose) 6 Module Account where jobs are bom [Choose 7 Module 8 Module Type of Overhead put...
Labels
Actual factory overhead
Depreciation of equipment
Direct labor used
Direct materials used
Factory overhead applied
Factory rent
Factory utilities
Indirect labor
Indirect materials
Required information (The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $27,000; factory rent, $39,000; factory utilities, $24,000; and factory...
Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct - labor costs $152,000 85,000 127,000 148,000 286.000 259,000 35,000 65,000 53,000 140 percent The ending balance of work-in-process inventory is O A. $413,000 O B. $454,800 OC. $168,800 OD. $127,000
(c) (d) Record the purchase of raw materials, the factory labor costs incurred, and the manufacturing overhead costs incurred during the month of January. Record the assignment of direct materials, direct labor, and manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in (a). Post all costs to the job cost sheets as necessary Total the job cost sheets for any job(s) completed during the month. Record the completion of any job(s) during the...
Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) $400,00e Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 15,00e 130,e00 8,000 240,000 10,000 $473,00e $ 20,00e 30,000 $ 40,000e $ 70,00e The company uses a predetermined overhead rate of $25 per machine-hour to apply...
Journalize the June transactions: (1) for purchase of raw
materials, factory labor costs incurred, and manufacturing overhead
cost incurred; (2) assignment of direct materials, labor, and
overhead to production; and (3) completion of jobs and sale of
goods.
Post the entries to Work in Process Inventory.
Reconcile the balance in Work in Process Inventory with the costs
of unfinished jobs.
Prepare a cost of goods manufactured schedule for June.
Case Inc. is a construction company specializing in custom patios. The...
U Labor and Indirect Labor are debited and D) Work in Process Inventory and Factory credited. ) Cost of Goods Manufactured is debited and Direct Labor is credited. TUESS Inventory is credited. Cory is debited and Factory Overhead is credited. direct Labor are debited and Factory Wages Payable is credited. iventory and Factory Overhead are debited and Factory Wages Payable is 34) In a process costing system, the purch Inventory a process costing system, the purchase of raw materials is...
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