Homework Answers
In the books of Alloy Manufacturing :
| Transaction/ Event | Account Titles | Debit | Credit |
| $ | $ | ||
| 1. | Work in Process: Forming | 50,000 | |
| Work in Process : Cutting | 60,000 | ||
| Work in Process: Packaging | 30,000 | ||
| Raw Materials | 140,000 | ||
| 2. | Work in Process: Forming | 35,000 | |
| Work in Process: Cutting | 25,000 | ||
| Work in Process: Packaging | 18,000 | ||
| Wages Payable | 78,000 | ||
| 3. | Work in Process: Forming | 9,000 | |
| Work in Process: Cutting | 7,500 | ||
| Work in Process: Packaging | 4,200 | ||
| Manufacturing Overhead | 20,700 | ||
| 4. | Work in Process: Cutting | 45,000 | |
| Work in Process: Forming | 45,000 | ||
| 5. | Work in Process: Packaging | 62,000 | |
| Work in Process: Cutting | 62,000 | ||
| 6. | Finished Goods Inventory | 75,000 | |
| Work in Process: Packaging | 75,000 | ||
| 7. | Cost of Goods Sold | 33,000 | |
| Finished Goods Inventory | 33,000 |
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Hotwax completed products costing $335,000 and transferred them to finished goods. Prepare its journal entry to record the transfer of units from Shaping to finished goods inventory View transaction list Journal entry worksheet 1 Record the transfer of work from shaping to finished goods. conces Note: Enter debits before credits. Transaction General Journal Credit 1 Record entry Clear entry View general Journal
Assembly to be assembled and painted. From Assembly, the chairs are transferred to Finished Goods Inventory and then are sold Mesa has compiled the following information for the month of February Direct materials Direct labor Applied manufacturing overhead Cost of goods completed and transferred out 77,000$ 74,000 58000 227,000 $ 17,000 9,000 167,000 272,000 Required: 1,2,3, & 4 Prepare journal entries for the transactions in the Cutting and Assembly Departments of Mesa Company, (If no entry is required for a...
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Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories Beginning Ending Inventory Inventory Raw materials inventory $ 120,000 $185.000 Work in process inventory-Weaving 300,000 330,000 Work in process inventory-Sewing 570 000 700.000 Finished goods inventory 1,286,000 1,206,000 The following additional information describes the company's manufacturing activities for June $ 500.000 3,060,000 156.000 $ 240,000 75,000 120,000 Raw materials purchases (on credit) Factory payroll cost...
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories: Beginning Inventory $ 164,000 315, 000 720, 000 1,476, 000 Ending Inventory $ 249, e00 445, 000 805, 000 1,446, 000 Raw naterials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory The following additional information describes the company's manufacturing activities for June: $520, 000 3, 230, 000 210,000 Raw materials purchases...
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