Homework Answers
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Particulars |
Debit |
Credit |
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Raw materials worth $12,000 were issued for use in the Cutting Department. |
Work-in-process Shaping |
Raw materials |
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Manufacturing overhead was applied to the Shaping |
Work-in-process Shaping |
Manufacturing overhead |
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Unshaped, cut snowboards worth $60,000 were transferred |
Work-in-process Shaping |
Work-in-process cutting |
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Finished snowboards worth $80,000 were transferred from |
Finished goods |
Work-in-process Shaping |
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Finished bricks that cost $100,000 were sold to customers. |
COGS |
Finished goods |
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Debit Credit Transaction 1 Raw materials worth $12,000 were issued for use in the Cutting Department...
Knowledge Check For each of the five transactions described below, use the dropdown boxes to indicate...
Knowledge Check For each of the five transactions described below, use the dropdown boxes to indicate which account should be debited and which account should be credited. Debit Credit Transaction Raw materials worth $12,000 were issued for use in the Cutting Department. 2. Manufacturing overhead was applied to the Shaping Department, $10,000. Unshaped, cut snowboards worth $60,000 were transferred from the Cutting Department to the Shaping Department. Finished snowboards worth $80,000 were transferred from the Shaping Department to the finished...
Quality Brick Company produces bricks in two processing departments—Molding and Firing. Information relating to the company’s...
Quality Brick Company produces bricks in two processing departments—Molding and Firing. Information relating to the company’s operations in March follows: a. Raw materials were issued for use in production: Molding Department, $23,000; and Firing Department, $8,000. b. Direct labor costs were incurred: Molding Department, $12,000; and Firing Department, $7,000. c. Manufacturing overhead was applied: Molding Department, $25,000; and Firing Department, $37,000. d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. According to the company's process...
Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to the company's...
Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to the company's operations in March follows a. Raw materials were issued for use in production: Molding Department, $29,000; and Firing Department, $4,200 b. Direct labor costs were incurred: Molding Department, $17,200; and Firing Department, $4,900 c. Manufacturing overhead was applied: Molding Department, $22,200; and Firing Department, $35,900 d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. According to the company's process...
Schwager Company has two production departments Cutting and Assembly, July 1 Inventories are Raw Materials $5,200,...
Schwager Company has two production departments Cutting and Assembly, July 1 Inventories are Raw Materials $5,200, Work In Process-Cutting $3,700, Work in Process Assembly $10,000, and finished Goods $2.500. During July, the following transactions occurred 1. Purchased $63,700 of raw materials on account 2. incurred 561,900 of factory labor. (Credit Wages Payable) 3. Incurred $71,500 of manufacturing overhead: $41,600 was paid and the remainder is unpaid 4. Requisitioned materials for Cutting 517,800 and Assembly 59,300 5. Used factory labor for...
Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $5,100,...
Schrager Company has two production departments: Cutting and
Assembly. July 1 inventories are Raw Materials $5,100, Work in
Process—Cutting $3,600, Work in Process—Assembly $11,600, and
Finished Goods $32,600. During July, the following transactions
occurred.
1.
Purchased $62,700 of raw materials on account.
2.
Incurred $61,600 of factory labor. (Credit Wages Payable.)
3.
Incurred $71,600 of manufacturing overhead; $42,000 was paid
and the remainder is unpaid.
4.
Requisitioned materials for Cutting $16,600 and Assembly
$9,600.
5.
Used factory labor for Cutting...
Quality Brick Company produces bricks in two processing departments-molding and firing. Information relating to the company’s...
Quality Brick Company produces bricks in two processing
departments-molding and firing. Information relating to the
company’s operations in March follows:
Exercise 4-1 Process Costing Journal Entries [LO 4-1] Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to the company's operations in March follows: a. Raw materials were issued for use in production: Molding Department, $28,100; and Firing Department, $5,700. b. Direct labor costs were incurred: Molding Department, $16,900; and Firing Department, $5,200 c. Manufacturing overhead...
Schrager Company has two production departments: Cutting and Assembly July 1 inventories are Raw Materials $4,600,...
Schrager Company has two production departments: Cutting and Assembly July 1 inventories are Raw Materials $4,600, Wo in Process-Cutting $3,800, Work in Process-Assembly $11,500, and Finished Goods $32,000. During July, the following transactions occurred. 1. Purchased $64,200 of raw materials on account. 2. Incurred $61,000 of factory labor. (Credit Wages Payable.) 3. Incurred $71,000 of manufacturing overhead: $42,300 was paid and the remainder is unpaid. 4. Requisitioned materials for Cutting $16,700 and Assembly $9,600. 5. Used factory labor for Cutting...
Schrager Company has two production departments Cutting and Assembly, July 1 Inventories are Raw Materials $4,400,...
Schrager Company has two production departments Cutting and Assembly, July 1 Inventories are Raw Materials $4,400, Work in Process Cutting $3,500, Work in Process Accombly S11,500, and finished Goods 37,200. During July, the following transactions occurred. 1. Purchased $64,500 of raw materials on account 2 Incurred $60,200 of factory labor (Credit Wars Pavable) 3. Incurred $72,800 of manufacturing overhead; 41,600 was paid and the remainder is unpaid. 4. Requisitioned materials for Cutting $17,200 and Assembly $9,600. 5. Used factory labor...
Exercise 5-1 Process Costing Journal Entries (LO5-1) Quality Brick Company produces bricks in two processing departments-Molding...
Exercise 5-1 Process Costing Journal Entries (LO5-1) Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to the company's operations in March follows: points eBook a. Raw materials used in production: Molding Department, $26,900; and Firing Department, $5,600. b. Direct labor costs incurred: Molding Department, $16,000; and Firing Department, $5,700. c. Manufacturing overhead was applied: Molding Department, $24,100; and Firing Department, $39,600. d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department....
Oriole Company has two production departments: Cutting and Assembly, July 1 Inventories are Raw Materials $5,200,...
Oriole Company has two production departments: Cutting and Assembly, July 1 Inventories are Raw Materials $5,200, Work in Process-Cutting $3,200, Work in Process- Assembly $10,900, and Finished Goods $32,400. During July, the following transactions occurred. 1. Purchased $62,700 of raw materials on account 2. Incprred $60,200 of factory labor. (Credit Wages Payable.) 3. Incurred $71,800 of manufacturing overhead; $42,900 was paid and the remainder is unpaid. 4. Requisitioned materials for Cutting $16,500 and Assembly $9,800 5. Used factory labor for...
Knowledge Check For each of the five transactions described below, use the dropdown boxes to indicate which account should be debited and which account should be credited. Debit Credit Transaction Raw materials worth $12,000 were issued for use in the Cutting Department. 2. Manufacturing overhead was applied to the Shaping Department, $10,000. Unshaped, cut snowboards worth $60,000 were transferred from the Cutting Department to the Shaping Department. Finished snowboards worth $80,000 were transferred from the Shaping Department to the finished...
Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to the company's operations in March follows a. Raw materials were issued for use in production: Molding Department, $29,000; and Firing Department, $4,200 b. Direct labor costs were incurred: Molding Department, $17,200; and Firing Department, $4,900 c. Manufacturing overhead was applied: Molding Department, $22,200; and Firing Department, $35,900 d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. According to the company's process...
Schwager Company has two production departments Cutting and Assembly, July 1 Inventories are Raw Materials $5,200, Work In Process-Cutting $3,700, Work in Process Assembly $10,000, and finished Goods $2.500. During July, the following transactions occurred 1. Purchased $63,700 of raw materials on account 2. incurred 561,900 of factory labor. (Credit Wages Payable) 3. Incurred $71,500 of manufacturing overhead: $41,600 was paid and the remainder is unpaid 4. Requisitioned materials for Cutting 517,800 and Assembly 59,300 5. Used factory labor for...
Schrager Company has two production departments: Cutting and
Assembly. July 1 inventories are Raw Materials $5,100, Work in
Process—Cutting $3,600, Work in Process—Assembly $11,600, and
Finished Goods $32,600. During July, the following transactions
occurred.
1.
Purchased $62,700 of raw materials on account.
2.
Incurred $61,600 of factory labor. (Credit Wages Payable.)
3.
Incurred $71,600 of manufacturing overhead; $42,000 was paid
and the remainder is unpaid.
4.
Requisitioned materials for Cutting $16,600 and Assembly
$9,600.
5.
Used factory labor for Cutting...
Quality Brick Company produces bricks in two processing
departments-molding and firing. Information relating to the
company’s operations in March follows:
Exercise 4-1 Process Costing Journal Entries [LO 4-1] Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to the company's operations in March follows: a. Raw materials were issued for use in production: Molding Department, $28,100; and Firing Department, $5,700. b. Direct labor costs were incurred: Molding Department, $16,900; and Firing Department, $5,200 c. Manufacturing overhead...
Schrager Company has two production departments: Cutting and Assembly July 1 inventories are Raw Materials $4,600, Wo in Process-Cutting $3,800, Work in Process-Assembly $11,500, and Finished Goods $32,000. During July, the following transactions occurred. 1. Purchased $64,200 of raw materials on account. 2. Incurred $61,000 of factory labor. (Credit Wages Payable.) 3. Incurred $71,000 of manufacturing overhead: $42,300 was paid and the remainder is unpaid. 4. Requisitioned materials for Cutting $16,700 and Assembly $9,600. 5. Used factory labor for Cutting...
Schrager Company has two production departments Cutting and Assembly, July 1 Inventories are Raw Materials $4,400, Work in Process Cutting $3,500, Work in Process Accombly S11,500, and finished Goods 37,200. During July, the following transactions occurred. 1. Purchased $64,500 of raw materials on account 2 Incurred $60,200 of factory labor (Credit Wars Pavable) 3. Incurred $72,800 of manufacturing overhead; 41,600 was paid and the remainder is unpaid. 4. Requisitioned materials for Cutting $17,200 and Assembly $9,600. 5. Used factory labor...
Exercise 5-1 Process Costing Journal Entries (LO5-1) Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to the company's operations in March follows: points eBook a. Raw materials used in production: Molding Department, $26,900; and Firing Department, $5,600. b. Direct labor costs incurred: Molding Department, $16,000; and Firing Department, $5,700. c. Manufacturing overhead was applied: Molding Department, $24,100; and Firing Department, $39,600. d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department....
Oriole Company has two production departments: Cutting and Assembly, July 1 Inventories are Raw Materials $5,200, Work in Process-Cutting $3,200, Work in Process- Assembly $10,900, and Finished Goods $32,400. During July, the following transactions occurred. 1. Purchased $62,700 of raw materials on account 2. Incprred $60,200 of factory labor. (Credit Wages Payable.) 3. Incurred $71,800 of manufacturing overhead; $42,900 was paid and the remainder is unpaid. 4. Requisitioned materials for Cutting $16,500 and Assembly $9,800 5. Used factory labor for...
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