The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following...
The financial records for the Harrison Manufacturing Company
have been destroyed in a fire. The following information has been
obtained from a separate set of books maintained by the cost
accountant. The cost accountant now asks for your assistance in
computing the missing amounts.
| Direct Materials Inventory | |||
| Beg. Bal. | 8,100 | ? | Transferred Out |
| Purchases | ? | ||
| End. Bal. | 6,500 | ||
| Cost of Goods Sold | |||
| 58,000 | |||
| Work-in-Process Inventory | |||
| Beg. Bal. | 7,600 | ? | Transferred Out |
| Materials | 18,200 | ||
| Labor | 13,600 | ||
| Overhead | 8,100 | ||
| End. Bal. | ? | ||
| Finished Goods Inventory | |||
| Beg. Bal. | ? | ? | Transferred Out |
| Transferred in | 39,600 | ||
| End. Bal. | 4,300 | ||
What is the amount of the materials purchased?
Multiple Choice
-
$18,200.
-
$14,600.
-
$19,800.
-
$16,600.
Homework Answers
D. $16,600.
Beginning balance + Purchases - Transferred Out = Ending balance
$8,100 + Purchases - $18,200 = $6,500
Purchases = $6,500 - $8,100 + $18,200
Purchases = $16,600
$18,200 of materials is in WIP which means it had to be transferred out of materials.
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The financial records for the Harrison Manufacturing Company
have been destroyed in a fire. The following...
please answer The financial records for the Harrison Manufacturing Company have been destroyed in a fire....
please
answer
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained From a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts Direct Materials Inventory Beg. Bal. 9,700 ? Transferred Out Purchases ? Cost of Goods Sold 74,000 Finished Goods Inventory Beg. Bal. Transferred Out End. Bal. 8,100 Work-in-Process Inventory Beg. Bal. 9,200 Transferred Out Materials...
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following...
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts. Direct Materials Inventory Beg. Bal. 9,400 ? Transferred Out Purchases End. Bal. 7,800 Cost of Goods Sold 71,000 Work-in-process Inventory Beg. Bal. 8,900 ? Transferred Out Materials 20,800 Labor 14,900 Overhead 9,400 End. Bal. Finished Goods...
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following...
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts. Direct Materials Inventory Beg. Bal. 8,300 ? Transferred Out Purchases ? End. Bal. 6,700 Cost of Goods Sold 60,000 Transferred Out Work-in-Process Inventory Beg. Bal. 7,800 ? Materials 18,600 Labor 13,800 Overhead 8,300 End. Bal. Finished...
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following...
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts. Direct Materials Inventory Beg. Bal. 8,800 ? Transferred Out Purchases ? End. Bal. 7,200 Cost of Goods Sold 65,000 Work-in-Process Inventory Beg. Bal. 8,300 ? Transferred Out Materials 19,600 Labor 14,300 Overhead 8,800 End. Bal. ?...
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following...
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts. Direct Materials Inventory Beg. Bal. 8,000 ? Transferred Out Purchases ? End. Bal. 6,400 Cost of Goods Sold 57,000 Work-in-Process Inventory Beg. Bal. 7,500 ? Transferred Out Materials 18,000 Labor 13,500 Overhead 8,000 End. Bal. ?...
me financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following...
me financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained om a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing mounts Direct Materials Inventory Beg. Bal. 9,700 Transferred Out Purchases ? Cost of Goods Sold 74,000 Transferred Out End. Bal. 8,100 Work-in-Process Inventory Beg. Bal. 9,200 Materials 21,400 Labor 15,200 Overhead 9,700 End. Bal. Finished Goods Inventory...
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following...
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts. Direct Materials Inventory Beg. Bal. 9,000 ? Transferred Out Purchases ? End. Bal. 7,400 Cost of Goods Sold 67,000 Work-in-Process Inventory Beg. Bal. 8,500 ? Transferred Out Materials 20,000 Labor 14,500 Overhead 9,000 End. Bal. ?...
The following trial balance was taken from the records of Fairport Manufacturing Company at the beginning...
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The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31,...
The following is the post-closing trial balance for the Whitlow
Manufacturing Corporation as of December 31, 2020.
Account Title
Debits
Credits
Cash
5,800
Accounts receivable
2,800
Inventory
5,800
Equipment
11,800
Accumulated depreciation
4,300
Accounts payable
3,800
Accrued liabilities
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Common stock
10,000
Retained earnings
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Sales revenue
0
Cost of goods sold
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Salaries expense
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Rent expense
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Advertising expense
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The beginning balance in the Work in Process Inventory account
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The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained From a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts Direct Materials Inventory Beg. Bal. 9,700 ? Transferred Out Purchases ? Cost of Goods Sold 74,000 Finished Goods Inventory Beg. Bal. Transferred Out End. Bal. 8,100 Work-in-Process Inventory Beg. Bal. 9,200 Transferred Out Materials...
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts. Direct Materials Inventory Beg. Bal. 9,400 ? Transferred Out Purchases End. Bal. 7,800 Cost of Goods Sold 71,000 Work-in-process Inventory Beg. Bal. 8,900 ? Transferred Out Materials 20,800 Labor 14,900 Overhead 9,400 End. Bal. Finished Goods...
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts. Direct Materials Inventory Beg. Bal. 8,300 ? Transferred Out Purchases ? End. Bal. 6,700 Cost of Goods Sold 60,000 Transferred Out Work-in-Process Inventory Beg. Bal. 7,800 ? Materials 18,600 Labor 13,800 Overhead 8,300 End. Bal. Finished...
me financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained om a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing mounts Direct Materials Inventory Beg. Bal. 9,700 Transferred Out Purchases ? Cost of Goods Sold 74,000 Transferred Out End. Bal. 8,100 Work-in-Process Inventory Beg. Bal. 9,200 Materials 21,400 Labor 15,200 Overhead 9,700 End. Bal. Finished Goods Inventory...
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The following is the post-closing trial balance for the Whitlow
Manufacturing Corporation as of December 31, 2020.
Account Title
Debits
Credits
Cash
5,800
Accounts receivable
2,800
Inventory
5,800
Equipment
11,800
Accumulated depreciation
4,300
Accounts payable
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Accrued liabilities
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Common stock
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Retained earnings
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Sales revenue
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Cost of goods sold
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Salaries expense
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Rent expense
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Advertising expense
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Supplies, and Cash accounts were $162,350, $2,000, and $400,000,
respectively.
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department. The materials were sufficient to make...
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