Homework Answers
T accounts
| Raw material | ||||
| Apr 30 | 33000 | |||
| Raw material purchase | 197000 | |||
| 15000 | indirect material | |||
| 178000[33000+197000-15000-37000] | Raw material used | |||
| RM May 31 | 37000 | |||
| work in process | ||||
| WIP April 30 | 9600 | [9600+178000+115500+63525-19200]347425$ | cost of goods manufactured | |
| DM used | 178000 | |||
| DL used [150000-34500] | 115500 | |||
| Overhead applied [115500*55%] | 63525 | |||
| Wip May 31 | 19200 | |||
| finished goods | ||||
| april 30 | 62000 | 374425[62000+347425-35000] | cost of goods sold | |
| cost of goods manufactured | 347425 | |||
| FG may 31 | 35000 | |||
| factory overhead | ||||
| indirect material | 15000 | 63525 | applied OH | |
| indirect labor | 34500 | |||
| other overhead cost | 100000 | |||
| under applied OH | 85975[15000+34500+100000-63525] | |||
journal enteries
| TRANSACTION | General journal | debit | credit | |
| (1)raw material purchase | Raw material inventory | 197000 | ||
| cash | 197000 | |||
| (2)Direct material usage | work in process inventory | 178000 | ||
| Raw material inventory | 178000 | |||
| (3)indirect material usage | Factory overhead | 15000 | ||
| Raw material inventory | 15000 | |||
| (4)Direct labor usage | work in process inventory | 115500 | ||
| factory wages payable | 115500 | |||
| (5)indirect labor usage | factory overhead | 34500 | ||
| factory wages payable | 34500 | |||
| (6)payroll paid | factory wages payable | 150000 | ||
| cash | 150000 | |||
| (7)incurred other overhead cost | factory overhead | 100000 | ||
| other accounts | 100000 | |||
| (8)application to work process | work in process inventory | 63525 | ||
| factory overhead | 63525 | |||
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Required information [The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $44,000 9,400 56,000 59,000 20,800 34,300 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
Required information (The following information applies to the questions displayed below.) The following information is available...
Required information (The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $44,000 9,200 50,000 39,000 19,400 33, 100 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash)...
Required information [The following information applies to the questions displayed below.) The following information is available...
Required information [The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. May 31 $ 49,000 20,000 34,000 April 30 Inventories Raw materials $ 40,000 Work in process 9,600 Finished goods 55,000 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash)...
1. Required information (The following information applies to the questions displayed below.) The following information is...
1.
Required information (The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $ 25,000 9,200 54,000 55,000 19,800 34,300 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in...
[The following information applies to the questions displayed below.] The following information is available for Lock-Tite...
[The following information applies to the questions displayed below.] The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $ 31,000 9,500 58,000 30,000 19, 100 33, 700 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash)...
Required information [The following information applies to the questions displayed below.) The following information is available...
Required information [The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $ 31, 000 9,500 58,000 30,000 19, 100 33, 700 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales...
Required Information [The following information applies to the questions displayed below) The following Information is available...
Required Information [The following information applies to the questions displayed below) The following Information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system, April 30 May 31 $ $49,000 9,800 65,000 53,000 18,500 34,100 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
Required information [The following information applies to the questions displayed below.] The following information is available...
Required information [The following information applies to the questions displayed below.] The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $49,000 9,800 60,000 58,000 20,900 33,200 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
Required information [The following information applies to the questions displayed below.] The following information is available...
Required information [The following information applies to the questions displayed below.] The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $44,000 9,400 56,000 59,000 20,800 34,300 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
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Use the following information to answer questions (The following information applies to the questions displayed below) The following information is available for Lock-Tite Company, which produces special-order security products and uses a Job order costing system. April 30 $ $43,000 10,200 63,000 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
Required information [The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $44,000 9,400 56,000 59,000 20,800 34,300 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
Required information (The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $44,000 9,200 50,000 39,000 19,400 33, 100 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash)...
Required information [The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. May 31 $ 49,000 20,000 34,000 April 30 Inventories Raw materials $ 40,000 Work in process 9,600 Finished goods 55,000 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash)...
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Required information (The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $ 25,000 9,200 54,000 55,000 19,800 34,300 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in...
[The following information applies to the questions displayed below.] The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $ 31,000 9,500 58,000 30,000 19, 100 33, 700 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash)...
Required information [The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $ 31, 000 9,500 58,000 30,000 19, 100 33, 700 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales...
Required Information [The following information applies to the questions displayed below) The following Information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system, April 30 May 31 $ $49,000 9,800 65,000 53,000 18,500 34,100 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
Required information [The following information applies to the questions displayed below.] The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $49,000 9,800 60,000 58,000 20,900 33,200 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
Required information [The following information applies to the questions displayed below.] The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $44,000 9,400 56,000 59,000 20,800 34,300 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
Use the following information to answer questions (The following information applies to the questions displayed below) The following information is available for Lock-Tite Company, which produces special-order security products and uses a Job order costing system. April 30 $ $43,000 10,200 63,000 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
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