Problem 1 On August 1, Camino Company had the following balances in its inventory accounts: Materials...
Problem 1 On August 1, Camino Company had the following balances in its inventory accounts: Materials Inventory $16,350 Work-in-Process Inventory 21,232 Finished Goods Inventory 15,200 The $21,232 of the work-in-process inventory is made up of three jobs with the following costs: Job 30 Job 31 Job 32 Direct materials $2,650 $3,650 Direct labor 1,900 1,340 4,000 Applied overhead 1,520 1,072 3,200 $1,900 During August, Camino experienced the following transactions: a. Purchases materials on account for $21,000. b. Requisitioned materials: Job...
On April 1, Sangvikar Company had the following balances in its inventory accounts: Materials Inventory $12,990 Work-in-Process Inventory 21,220 Finished Goods Inventory 8,840 Work-in-process inventory is made up of three jobs with the following costs: Job 114 Job 115 Job 116 Direct materials $2,403 $2,692 $3,103 Direct labor 1,780 1,560 4,320 Applied overhead 1,246 1,092 3.024 During April, Sangvikar experienced the transactions listed below. Materials purchased on account, $29,050. Materials requisitioned: Job 114, $16,060; Job 115, $12,220; and Job 116,...
On April 1, Sangvikar Company had the following balances in its inventory accounts: Materials Inventory $12,730 Work-in-Process Inventory 21,340 Finished Goods Inventory 8,700 Work-in-process inventory is made up of three jobs with the following costs: Job 114 Job 115 Job 116 Direct materials $2,411 $2,640 $3,650 Direct labor 1,800 1,560 4,300 Applied overhead 1,170 1,014 2,795 During April, Sangvikar experienced the transactions listed below. Materials purchased on account, $29,000. Materials requisitioned: Job 114, $16,500; Job 115, $12,200; and Job 116,...
Job Cost Flows, Journal Entries On April 1, Sangvikar Company had the following balances in its inventory accounts: Materials Inventory $12,760 Work-in-Process Inventory 21,350 Finished Goods Inventory 8,800 Work-in-process inventory is made up of three jobs with the following costs: Job 114 Job 115 Job 116 Direct materials $2,804 $2,640 $3,650 Direct labor 1,800 1,560 4,300 Applied overhead 1,080 936 2,580 During April, Sangvikar experienced the transactions listed below. Materials purchased on account, $30,000. Materials requisitioned: Job 114, $16,500; Job...
Job Cost Flows, Journal Entries On April 1, Sangvikar Company had the following balances in its inventory accounts: Materials Inventory $12,720 Work-in-Process Inventory 21,320 Finished Goods Inventory 8,800 Work-in-process inventory is made up of three jobs with the following costs: Job 114 Job 115 Job 116 Direct materials $2,774 $2,640 $3,650 Direct labor 1,800 1,560 4,300 Applied overhead 1,080 936 2,580 During April, Sangvikar experienced the transactions listed below. a. Materials purchased on account, $30,000. b. Materials requisitioned: Job 114,...
Job Cost Flows, Journal Entries On April 1, Sangvikar Company
had the following balances in its inventory accounts: Materials
Inventory $12,720 Work-in-Process Inventory 21,350 Finished Goods
Inventory 8,700 Work-in-process inventory is made up of three jobs
with the following costs:
Job Cost Flows, Journal Entries On April 1, Sangvikar Company had the following balances in its inventory accounts: Materials Inventory $12,720 Work-in-Process Inventory 21,350 Finished Goods Inventory 8,700 Work-in-process inventory is made up of three jobs with the following costs:...
Tyare Corporation had the following inventory balances at the beginning and end of May: Raw materials Finished Goods Work in Process May 1 May 30 $34,000 $47,000 $83,500 $83,000 $22,000 $17,809 During May, $67,000 in raw materials (all direct materials) were drawn from Inventory and used in production. The company's predetermined overhead rate was $12 per direct labor- hour, and it paid its direct labor workers $15 per hour. A total of 470 hours of direct labor time had been...
Morrison Company began the year with the following balances in its inventory accounts: • Raw Materials $ 15,000 • Work-in-process $ 45,000 • Finished Goods $ 85,000 Morrison applies Overhead to production using direct labor hours. As of the beginning of the year, Morrison estimated the year's total manufacturing overhead to be $140,000 and total direct labor hours to be 5,000. The following transactions occurred during the year Purchased $94,000 of raw materials on account. 2. Used $87,000 of raw...
Tyare Corporation had the following inventory balances at the beginning and end of May: Raw materials Finished Goods Work in Process May 1 $26,000 $75,500 $14,000 May 30 $31,000 $67,000 $16,567 During May, $59,000 in raw materials (all direct materials) were drawn from inventory and used in production. The company's predetermined overhead rate was $12 per direct labor-hour, and it paid its direct labor workers $15 per hour. A total of 310 hours of direct labor time had been expended...
Tyare Corporation had the following inventory balances at the beginning and end of May: Raw materials Finished Goods Work in Process May 1 $29,500 $79,000 $17,500 May 30 $38,000 $ 74,000 $17,116 During May, $62,500 in raw materials (all direct materials) were drawn from inventory and used in production. The company's predetermined overhead rate was $12 per direct labor-hour, and it paid its direct labor workers $15 per hour. A total of 380 hours of direct labor time had been...