Homework Answers
What Journal Entry is made when material is classified as Direct Material?
- Debit Work in Process Inventory, Credit Raw Materials Inventory.
What Journal Entry would be made when the weekly payroll is recorded?
- Debit Work in Process Inventory, Credit Wages Payable.
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1 point When materials are requisitioned from the Raw Materials Inventory they can be classified as...
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...
Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $198,000 of raw...
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 we 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 150% of direct labor cost. The journal entry to record the purchase of materials is: o Debit Raw Materials Inventory $198,000; credit Accounts Payable $198,000. o Debit...
Question 24 2p When direct labor costs are recorded in a job costing O Factory Wages...
Question 24 2p When direct labor costs are recorded in a job costing O Factory Wages Payable is debited and Work in Process Inventory is credited O Work in Process Inventory is debited and Factory Wages Payable is credited Cost of Goods Manufactured is debited and Direct Labor is credited ODirect Labor and Indirect Labor are debited and Factory Wages Payable is credited O Work in Process Inventory is debited and Factory Overhead is credited costs How much overhead Question...
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...
Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are...
Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $379,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor, $25,000; factory rent, $32,000; factory utilities, $21,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $675,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job...
Marcelino Co.'s March 31 inventory of raw materials is $90,000 Raw materials purchases in April are...
Marcelino Co.'s March 31 inventory of raw materials is $90,000 Raw materials purchases in April are $520,000, and factory payroll cost in April is $375,000 Overhead costs incurred in April are indirect materials, $56,000 indirect labor, $22,000, factory rent, $34,000, factory utilities, $22,000, and factory equipment depreciation, $56,000. 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. Job 306 Job...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw...
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, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the issuance of materials to production is: Multiple Choice Debit Raw Materials Inventory $195,000; credit Accounts Payable $195,000. Debit Work...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw...
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, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the išsuance of materials to production is: Multiple Choice Debit Work in Process Inventory $195,000; credit Row Materials Inventory $195,000....
Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are...
Marcelino Co.'s March 31 inventory of raw materials is $85,000.
Raw materials purchases in April are $600,000, and factory payroll
cost in April is $367,000. Overhead costs incurred in April are:
indirect materials, $56,000; indirect labor, $29,000; factory rent,
$35,000; factory utilities, $24,000; and factory equipment
depreciation, $55,000. The predetermined overhead rate is 50% of
direct labor cost. Job 306 is sold for $680,000 cash in April.
Costs of the three jobs worked on in April follow.
(Can you please...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $55,500. 2. Raw Materials...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $55,500. 2. Raw Materials of $43,700 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,600 was classified as indirect materials. 3. Factory labor costs incurred were $65,600, of which $50,000 pertained to factory wages payable and $15,600 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,400 was direct labor and $10,200 was indirect labor. 5. Manufacturing overhead costs incurred...
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...
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 we 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 150% of direct labor cost. The journal entry to record the purchase of materials is: o Debit Raw Materials Inventory $198,000; credit Accounts Payable $198,000. o Debit...
Question 24 2p When direct labor costs are recorded in a job costing O Factory Wages Payable is debited and Work in Process Inventory is credited O Work in Process Inventory is debited and Factory Wages Payable is credited Cost of Goods Manufactured is debited and Direct Labor is credited ODirect Labor and Indirect Labor are debited and Factory Wages Payable is credited O Work in Process Inventory is debited and Factory Overhead is credited costs How much overhead Question...
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...
Marcelino Co.'s March 31 inventory of raw materials is $90,000 Raw materials purchases in April are $520,000, and factory payroll cost in April is $375,000 Overhead costs incurred in April are indirect materials, $56,000 indirect labor, $22,000, factory rent, $34,000, factory utilities, $22,000, and factory equipment depreciation, $56,000. 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. Job 306 Job...
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, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the išsuance of materials to production is: Multiple Choice Debit Work in Process Inventory $195,000; credit Row Materials Inventory $195,000....
Marcelino Co.'s March 31 inventory of raw materials is $85,000.
Raw materials purchases in April are $600,000, and factory payroll
cost in April is $367,000. Overhead costs incurred in April are:
indirect materials, $56,000; indirect labor, $29,000; factory rent,
$35,000; factory utilities, $24,000; and factory equipment
depreciation, $55,000. The predetermined overhead rate is 50% of
direct labor cost. Job 306 is sold for $680,000 cash in April.
Costs of the three jobs worked on in April follow.
(Can you please...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $55,500. 2. Raw Materials of $43,700 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,600 was classified as indirect materials. 3. Factory labor costs incurred were $65,600, of which $50,000 pertained to factory wages payable and $15,600 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,400 was direct labor and $10,200 was indirect labor. 5. Manufacturing overhead costs incurred...
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