Homework Answers
d.
| Cash | Raw Materials | |||||||
| Beg. Bal. | 400000 | Beg. Bal. | 178400 | |||||
| 100600 | 3 | 156200 | 2 | |||||
| 13550 | 5 | |||||||
| End. Bal. | 285850 | End. Bal. | 22200 | |||||
| Work in process Parts | Work in process Assembly | |||||||
| Beg. Bal. | 12200 | Beg. Bal. | 0 | |||||
| 2 | 156200 | 272250 | 6 | 6 | 272250 | |||
| 3 | 91000 | |||||||
| 4 | 22750 | |||||||
| End. Bal. | 9900 | End. Bal. | 272250 | |||||
| Production Supplies | Cost of Goods Sold | |||||||
| Beg. Bal. | 2000 | Beg. Bal. | 0 | |||||
| 2000 | 7 | 8 | 2400 | |||||
| End. Bal. | 0 | End. Bal. | 2400 | |||||
| Manufacturing Overhead | ||||||||
| Beg. Bal. | 0 | |||||||
| 3 | 9600 | 22750 | 4 | |||||
| 5 | 13550 | 2400 | 8 | |||||
| 7 | 2000 | |||||||
| End. Bal. | 0 | |||||||
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6. The parts department completed work for 5,500 toys. The remaining toy parts were 40 percent...
Perez Plastic Products Company makes a plastic toy using two departments: parts and assembly. The following...
Perez Plastic Products Company makes a plastic toy using two departments: parts and assembly. The following data pertain to the parts department's transactions in 2018: 1. The beginning balance in the Work in Process Inventory account was $12,200. This inventory consisted of parts for 1,000 toys. The beginning balances in the Raw Materials inventory Production Supplies, and Cash accounts were $178,400, $2.000 and $400,000, respectively 2. Direct materials costing $156,200 were issued to the parts department. The materials were sufficient...
Munoz Plastic Products Company makes a plastic toy using two departments: parts and assembly. The...
Munoz Plastic Products Company makes a plastic toy using two
departments: parts and assembly. The following data pertain to the
parts department’s transactions in 2018:
The beginning balance in the Work in Process Inventory account
was $12,300. This inventory consisted of parts for 1,000 toys. The
beginning balances in the Raw Materials Inventory, Production
Supplies, and Cash accounts were $162,350, $2,000, and $400,000,
respectively.
Direct materials costing $138,750 were issued to the parts
department. The materials were sufficient to make...
Munoz Plastic Products Company makes a plastic toy using two departments: parts and assembly. The...
Munoz Plastic Products Company makes a plastic toy using two
departments: parts and assembly. The following data pertain to the
parts department’s transactions in 2018:
The beginning balance in the Work in Process Inventory account
was $12,300. This inventory consisted of parts for 1,000 toys. The
beginning balances in the Raw Materials Inventory, Production
Supplies, and Cash accounts were $162,350, $2,000, and $400,000,
respectively.
Direct materials costing $138,750 were issued to the parts
department. The materials were sufficient to make...
18 Fanning Cola Corporation produces a new soft drink brand, Sweet Spring, using two production departments: mixing and bottling Fanning's beginning balances and data pertinent to the mixing depa...
18 Fanning Cola Corporation produces a new soft drink brand, Sweet Spring, using two production departments: mixing and bottling Fanning's beginning balances and data pertinent to the mixing department's activities for 2018 follow: Beginning Accounts Balances 48,000 14,600 Cash Raw materials inventory Production supplies Work in process inventory (360,000 units) 100 43,200 95,700 Common stock 1. Fanning Cola issued additional common stock for $56,000 cash. 2. The company purchased raw materials and production supplies for $24,380 and $700, respectively, in...
March 1 balance Work in Process-defining Department 33,200 Completed and transferred to atending 151,600 76,200 482.000...
March 1 balance Work in Process-defining Department 33,200 Completed and transferred to atending 151,600 76,200 482.000 Materiala Direet labor Overhead March 31 balance The March 1 work in process inventory in the Refining Department consists of the following elements: materials, $8,400, direct labor, $3,700; and overhead, $21,100. Costs incurred during March in the Blending Department were materials used, $46,000, direct labor, 518,000, and overhead cost applied to production, $105,000 Required: 1. Prepare journal entries to record the costs incurred in...
Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a...
Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with concerning production, are as follows. All direct materials are placed in process att production Work in Process-Assembly Department Bal., 9,000 units, 40% completed 72,360 Th Finished Goods, 41,500 units Direct materials, 40,000 units @ 272,000 $6.80 Direct labor 80,000 Factory overhead 40,450 Bal., 2 units, 30% completed Cost per equivalent units of $6.80 for Direct Materials and $3.00 for Conversion Costs....
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process
The charges to Work in Process—Assembly Department for a period,
together with information concerning production, are as follows.
All direct materials are placed in process at the beginning of
production.
Work in Process-Assembly Department Bal., 1,600 units, 35% completed 17,4401 To Finished Goods, 29,600 units Direct materials, 29,000 units @ 275,500 $9.50 Direct labor 84,600 Factory overhead 39,2581 Bal. 2 units, 45% completed Cost per equivalent units of $9.50 for Direct Materials and...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 8,000 units, 50% completed 24,800 To Finished Goods, 184,000 units ? Direct materials, 188,000 units @ $2.1 394,800 Direct labor 299,400 Factory overhead 116,400 Bal., ? units, 75% completed ? Cost per equivalent units of $2.10 for Direct...
Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a...
Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production Work in Process-Assembly Department Bal., 2,000 units, 55% completed 8,510 To Finished Goods, 46,000 units Direct materials, 47,000 units $2 94,000 Direct labor 146. Sool Factory overhead 57.000 Bal 2 units, 45% completed Cost per equivalent units of $2.00 for Direct Materials and...
The charges to Work in Process-Assembly Department for a period, together with information concer...
The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production Work in Process-Assembly Department Bal., 3,000 units, 40% completed Direct materials, 71,000 units @ $1.3 Direct labor Factory overhead Bal. 2 units, 80% completed 6,300 92,300 To Finished Goods, 69,000 units 113,700 44,260 Determine the following a. The number of units in work in process inventory at the end of...
Perez Plastic Products Company makes a plastic toy using two departments: parts and assembly. The following data pertain to the parts department's transactions in 2018: 1. The beginning balance in the Work in Process Inventory account was $12,200. This inventory consisted of parts for 1,000 toys. The beginning balances in the Raw Materials inventory Production Supplies, and Cash accounts were $178,400, $2.000 and $400,000, respectively 2. Direct materials costing $156,200 were issued to the parts department. The materials were sufficient...
Munoz Plastic Products Company makes a plastic toy using two
departments: parts and assembly. The following data pertain to the
parts department’s transactions in 2018:
The beginning balance in the Work in Process Inventory account
was $12,300. This inventory consisted of parts for 1,000 toys. The
beginning balances in the Raw Materials Inventory, Production
Supplies, and Cash accounts were $162,350, $2,000, and $400,000,
respectively.
Direct materials costing $138,750 were issued to the parts
department. The materials were sufficient to make...
Munoz Plastic Products Company makes a plastic toy using two
departments: parts and assembly. The following data pertain to the
parts department’s transactions in 2018:
The beginning balance in the Work in Process Inventory account
was $12,300. This inventory consisted of parts for 1,000 toys. The
beginning balances in the Raw Materials Inventory, Production
Supplies, and Cash accounts were $162,350, $2,000, and $400,000,
respectively.
Direct materials costing $138,750 were issued to the parts
department. The materials were sufficient to make...
18 Fanning Cola Corporation produces a new soft drink brand, Sweet Spring, using two production departments: mixing and bottling Fanning's beginning balances and data pertinent to the mixing department's activities for 2018 follow: Beginning Accounts Balances 48,000 14,600 Cash Raw materials inventory Production supplies Work in process inventory (360,000 units) 100 43,200 95,700 Common stock 1. Fanning Cola issued additional common stock for $56,000 cash. 2. The company purchased raw materials and production supplies for $24,380 and $700, respectively, in...
March 1 balance Work in Process-defining Department 33,200 Completed and transferred to atending 151,600 76,200 482.000 Materiala Direet labor Overhead March 31 balance The March 1 work in process inventory in the Refining Department consists of the following elements: materials, $8,400, direct labor, $3,700; and overhead, $21,100. Costs incurred during March in the Blending Department were materials used, $46,000, direct labor, 518,000, and overhead cost applied to production, $105,000 Required: 1. Prepare journal entries to record the costs incurred in...
Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with concerning production, are as follows. All direct materials are placed in process att production Work in Process-Assembly Department Bal., 9,000 units, 40% completed 72,360 Th Finished Goods, 41,500 units Direct materials, 40,000 units @ 272,000 $6.80 Direct labor 80,000 Factory overhead 40,450 Bal., 2 units, 30% completed Cost per equivalent units of $6.80 for Direct Materials and $3.00 for Conversion Costs....
Cost of Units Completed and in Process
The charges to Work in Process—Assembly Department for a period,
together with information concerning production, are as follows.
All direct materials are placed in process at the beginning of
production.
Work in Process-Assembly Department Bal., 1,600 units, 35% completed 17,4401 To Finished Goods, 29,600 units Direct materials, 29,000 units @ 275,500 $9.50 Direct labor 84,600 Factory overhead 39,2581 Bal. 2 units, 45% completed Cost per equivalent units of $9.50 for Direct Materials and...
Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production Work in Process-Assembly Department Bal., 2,000 units, 55% completed 8,510 To Finished Goods, 46,000 units Direct materials, 47,000 units $2 94,000 Direct labor 146. Sool Factory overhead 57.000 Bal 2 units, 45% completed Cost per equivalent units of $2.00 for Direct Materials and...
The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production Work in Process-Assembly Department Bal., 3,000 units, 40% completed Direct materials, 71,000 units @ $1.3 Direct labor Factory overhead Bal. 2 units, 80% completed 6,300 92,300 To Finished Goods, 69,000 units 113,700 44,260 Determine the following a. The number of units in work in process inventory at the end of...
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