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wemo Inc. sells video games and use normal job costing to track costs. During 2018, Beemo Inc. had the transactions: Purchased $555,000 of materials on credit 5624,300 of materials were used, with 5520.400 being direct materials and the rest indirect material 546,000 was paid to direct labor and $88,000 was paid to indirect labor d. During the year, 599,900 worth of other indirect costs were incurred of which 59.500 came from depreciation 42.980 direct labor hours were worked over the...
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6: At the beginning of the year, Beemo Inc. had these beginning balances Cash Control: $1,440,000 Raw Material Control: $470,300 Work-in-Process Control: $133,800 Finished Goods Control Account: $367,000 Accumulated Depreciation Control Account: $96,500 Accounts Payable Control: $114,000 Using this information, as well as the information from Question 6, please do the following: a. Find the ending balance for the Raw Materials Control Account: b. Find the ending balance for the Work In Process Control Account: c. Find the ending balance...
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estion 6: At the beginning of the year, Beemo Inc. had these beginning balances: Cash Control: $1,440,000 Raw Material Control: $470,300 Work-in-Process Control: $133,800 Finished Goods Control Account: $367,000 Accumulated Depreciation Control Account: $96,500 Accounts Payable Control: $114,000 Using this information, as well as the information from Question 6, please do the following Find the ending balance for the Raw Materials Control Account: a. Find the ending balance for the Work In Process Control Account: b. c. Find the ending...
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question 5: Beemo Inc. sells video games and use normal job costing to track costs. During 2018, Beemo Inc. had the following transactions: a. Purchased $555,000 of materials on credit b. $624,300 of materials were used, with $520,400 being direct materials and the rest indirect materials C. $546,000 was paid to direct labor and $88,000 was paid to indirect labor d. During the year, $99,900 worth of other indirect costs were incurred, of which $9,500 came from depreciation. e. 42,980...
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question 4: Marceline Co. makes made to order guitars. One of the jobs Marceline Co. worked on during the month was ob Vamp, which used $1,200 in direct materials, 5210 in direct labor costs(paid at $15 an hour) and 125 machine hours. They use normal costing to help track costs for the guitar orders they fill and use machine hours as their allocation base. At the beginning of the month, Marceline Co. believes they will use 1,500 direct labor hours,...
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6: At the beginning of the year, Beemo Inc. had these beginning balances Cash Control: $1,440,000 Raw Material Control: $470,300 Work-in-Process Control: $133,800 Finished Goods Control Account: $367,000 Accumulated Depreciation Control Account: $96,500 Accounts Payable Control: $114,000 Using this information, as well as the information from Question 6, please do the following: a. Find the ending balance for the Raw Materials Control Account: b. Find the ending balance for the Work In Process Control Account: c. Find the ending balance...
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Help me out
36. The following account balances and information are available for Stevens Inc. at the end of 2019: Overapplied Manufacturing overhead Raw materials Work in process Finished goods Cost of goods sold Ending balance $60,000 100,000 25,000 75,000 200,000 (contains $10,000 of applied overhead) (contains $30,000 of applied overhead) (contains $80,000 of applied overhead) The overapplied balance in the Manufacturing Overhead account is determined to be material (significant). After closing the Manufacturing Overhead account, Cost of Goods Sold...
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I do not know how to do 7b. Question 1-7a are listed
below. Thank you!!!
Question: Cole Company uses normal costing in its job-costing
system. Partially completed T-accounts and additional information
for Cole for 2020 are as follow:
T-accounts X Х Direct Materials Control 1-1-2020 38,000 237,000 Finished Goods Control 1-1-2020 14,000 884,960 Work-in-Process Control 1-1-2020 46,000 Dir. Manuf. labor 357,000 Manufacturing Overhead Allocated 134,000 Manufacturing Overhead Control 517,000 926,270 Cost of Goods Sold Print Done More Info X Х...
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Answer the last 4 questions. Thank You
Big Bang Inc. produces custom model kits and uses normal costing
in its job-costing system. Selected financial
information for the year just ended is as follows:
Raw Materials Control
Finished Goods Control
Beg.Bal. $ 4,000
14,000
Beg.Bal. $ 10,000
60,000
13,000
70,000
End.Bal. $3,000
End.Bal. $ 20,000
Work-in-Process Control
Beg.Bal. $
8,000
Direct labour 28,000
Other Information:
Actual manufacturing overhead was $42,000 for the year.
The direct labour hourly wage was $16 per hour.
Manufacturing overhead was allocated using an...
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Please help! And please explain how to get answers so I can
learn how to do it on future problems. Thanks in advance! I'll be
sure to give a thumbs up.
The following information is taken from the accounts of Latta Company. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year. Manufacturing Overhead Work in Process 377,000 409,000 Bal. (c) 761,800 105,600 210,600 Bal. 32,000 115,700 (b) 409,000 Bal. 79,100 Cost of...
wemo Inc. sells video games and use normal job costing to track costs. During 2018, Beemo Inc. had the transactions: Purchased $555,000 of materials on credit 5624,300 of materials were used, with 5520.400 being direct materials and the rest indirect material 546,000 was paid to direct labor and $88,000 was paid to indirect labor d. During the year, 599,900 worth of other indirect costs were incurred of which 59.500 came from depreciation 42.980 direct labor hours were worked over the...
6: At the beginning of the year, Beemo Inc. had these beginning balances Cash Control: $1,440,000 Raw Material Control: $470,300 Work-in-Process Control: $133,800 Finished Goods Control Account: $367,000 Accumulated Depreciation Control Account: $96,500 Accounts Payable Control: $114,000 Using this information, as well as the information from Question 6, please do the following: a. Find the ending balance for the Raw Materials Control Account: b. Find the ending balance for the Work In Process Control Account: c. Find the ending balance...
estion 6: At the beginning of the year, Beemo Inc. had these beginning balances: Cash Control: $1,440,000 Raw Material Control: $470,300 Work-in-Process Control: $133,800 Finished Goods Control Account: $367,000 Accumulated Depreciation Control Account: $96,500 Accounts Payable Control: $114,000 Using this information, as well as the information from Question 6, please do the following Find the ending balance for the Raw Materials Control Account: a. Find the ending balance for the Work In Process Control Account: b. c. Find the ending...
question 5: Beemo Inc. sells video games and use normal job costing to track costs. During 2018, Beemo Inc. had the following transactions: a. Purchased $555,000 of materials on credit b. $624,300 of materials were used, with $520,400 being direct materials and the rest indirect materials C. $546,000 was paid to direct labor and $88,000 was paid to indirect labor d. During the year, $99,900 worth of other indirect costs were incurred, of which $9,500 came from depreciation. e. 42,980...
question 4: Marceline Co. makes made to order guitars. One of the jobs Marceline Co. worked on during the month was ob Vamp, which used $1,200 in direct materials, 5210 in direct labor costs(paid at $15 an hour) and 125 machine hours. They use normal costing to help track costs for the guitar orders they fill and use machine hours as their allocation base. At the beginning of the month, Marceline Co. believes they will use 1,500 direct labor hours,...
6: At the beginning of the year, Beemo Inc. had these beginning balances Cash Control: $1,440,000 Raw Material Control: $470,300 Work-in-Process Control: $133,800 Finished Goods Control Account: $367,000 Accumulated Depreciation Control Account: $96,500 Accounts Payable Control: $114,000 Using this information, as well as the information from Question 6, please do the following: a. Find the ending balance for the Raw Materials Control Account: b. Find the ending balance for the Work In Process Control Account: c. Find the ending balance...
Help me out
36. The following account balances and information are available for Stevens Inc. at the end of 2019: Overapplied Manufacturing overhead Raw materials Work in process Finished goods Cost of goods sold Ending balance $60,000 100,000 25,000 75,000 200,000 (contains $10,000 of applied overhead) (contains $30,000 of applied overhead) (contains $80,000 of applied overhead) The overapplied balance in the Manufacturing Overhead account is determined to be material (significant). After closing the Manufacturing Overhead account, Cost of Goods Sold...
I do not know how to do 7b. Question 1-7a are listed
below. Thank you!!!
Question: Cole Company uses normal costing in its job-costing
system. Partially completed T-accounts and additional information
for Cole for 2020 are as follow:
T-accounts X Х Direct Materials Control 1-1-2020 38,000 237,000 Finished Goods Control 1-1-2020 14,000 884,960 Work-in-Process Control 1-1-2020 46,000 Dir. Manuf. labor 357,000 Manufacturing Overhead Allocated 134,000 Manufacturing Overhead Control 517,000 926,270 Cost of Goods Sold Print Done More Info X Х...
Please help! And please explain how to get answers so I can
learn how to do it on future problems. Thanks in advance! I'll be
sure to give a thumbs up.
The following information is taken from the accounts of Latta Company. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year. Manufacturing Overhead Work in Process 377,000 409,000 Bal. (c) 761,800 105,600 210,600 Bal. 32,000 115,700 (b) 409,000 Bal. 79,100 Cost of...