Supervisors in the work centers oversee the usage of raw material in production; explain why the work centers do not keep the records of the work-in-process?
Work centre :- it is the place in the factories where a sequence of the work is going on for production of goods. This is the place where the inputs undergo several process, several machines and several labour.
In work Centre the calculation of the of the cost of the production is very difficult due to the reason that all the inputs are undergo several process and some inputs may end up at processing level also.
So to calculate the cost of total work in progress the management of the organisation will observe the inputs given to the production process and how much output got from the production process.
All calculations regarding the value of work in progress will be done by comparing input given and output got from the production process. This type of evaluation is done due to the reason of the input undergo process under several machineries and several labours and it is very difficult to allocate all the cost to each and every input given to the production process.
So due to this reasons supervisors in work Centre oversee the usage of the raw material (input) in production for valuation of the work in progress or value of output got.
Due to the above said reasons the accurate valuation of work in progress cannot be valued at work centre so work centre will not keep the records of the work in progress but possibly these records are maintained by corporate office, authoinput issuance authorities and output valuation department.
As a conclusion we can say that work centre involves many production process so that supervisors oversee the usage of raw material and valuation and records of the work in progress cannot be maintained accurately in work centre but same information can be valued by comparing information from raw material issuance authorities, output maintaining department.
These are all the information required to solve the given question.
I hope, all the above mentioned information and explanations are useful and helpful to you.
Thank you.
Supervisors in the work centers oversee the usage of raw material in production; explain why the...
explain why empowerment is so important to supervisors, employees, and organizations, individually and as a whole? Please share/provide some firsthand examples from your work or social experiences?
Question: A firm currently employs 40 production workers and 5 supervisors. The marginal product of the last production worker employed is 60 units of output per hour and production workers are paid $8 per hour. The marginal product of the last supervisor employed is 120 units of output per hour and supervisors are paid $20 per hour. Every employee works 40 hours per week. a) What is the firm's total labor cost per week? b) Assume that the firm's isoquants...
Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 655, eee $ 86, eee $ 140, eee $ 102, eee $ 44, eee $ 207, eee $ 226, eee Inventories Raw materials Work in process Finished goods Beginning $ 8,eee $ 5,400 $ 73,eee Ending $ 11, eee $ 20,800 $ 25, 120 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw...
Product costs flows and related information: * Raw material beginning Jan 1. $5,000 *Raw material ending $25,000 * Work in process beginning Jan 1 $17,000 * work in process ending $ 4,000 * Finished goods beginning, $ 3,000 * Finished goods ending, $ 1,000 * Purchases of raw material $120,000 * Actual direct labor costs $35,000, actual direct labor hours $ 15,500 * Manufacturing overhead applied @ 0.8 times of direct labor cost * Manufacturing overhead rate based on an...
Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 656,000 $ 82,000 $ 136,000 $ 104,000 $ 45,000 $ 204,000 $ 225,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,400 $ 5,600 $ 74,000 Ending $ 10,600 $ 20,300 $ 25,400 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare...
Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $652,000 $ 82,000 $137,000 $102,000 $ 49,000 $208,000 $227,000 Inventories Raw materials Work in process Finished goods Beginning Ending $ 8,900 $10,300 $5,300 $20,600 $ 74,000 $25,500 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume that...
required:1. Prepare a schedule of cost of goods manufactured.
Assume all raw materials used in production were direct
materials.
2. Prepare a schedule of cost of goods sold. Assume that the
company's underapplied or overapplied overhead is closed to Cost of
Goods Sold.
3. Prepare an income statement.
The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to...
please explain the correct answer to this question and why it is
correct, thanks
Your Answer incorrect The journal entry to record the use of direct materials in production is to: debit Raw Materials Inventory and credit Work in Process Inventory. O debit Work in Process Inventory and credit Raw Materials Inventory. O debit Raw Materials Inventory and credit Factory Overhead. O debit Factory Overhead and credit Raw Materials Inventory. Correct Answer debit Work in Process Inventory and credit Raw...
Chapter 5: Request Production Issue Raw Material Authorize Production Create Product Receive Finished Goods Production Process What triggers this Material step? Production planning and control department with their Material production teams and MRP MRP and Delivery ScheduleProduction Report Requirement schedule received Requirement Planning(MRP) from customer document prepared shortage report to cover the delivery schedule warehouse Who (in which functional area) i:s involved in this step? warehouse production production warehouse 4What document is Received: NA Received: planned order Received Material Received...
Explain the reticulocyte production index and why it is why it is sometimes necessary to use rather than the raw retic count.