Match the phrase to the right answer. (finished goods, actual, cost of goods manufactured, work in...
Match the phrase to the right answer.
(finished goods, actual, cost of goods manufactured, work in process, direct, estimated, raw materials inventory, cost of goods sold, allocated, and timecard)
- Accounts where job are born
- Type of labor incurred by hands on factory workers
- Document for capturing labor hours
- Type of Overhead put into WIP when using Job Costing
- Landing place for sold jobs
- Cost of finished products for the period
- Location of all completed jobs awaiting sale
Homework Answers
| Accounts where jobs are born | Work in process | ||||||||
| Type of labor incurred by hands on factory workers | Direct labor | ||||||||
| Document for capturing labor hours | Time card | ||||||||
| Type of overhead put into WIP when using job costing | Allocated overhead | ||||||||
| Landing place for sold jobs | Cost of goods sold | ||||||||
| Cost of finished products for the period | Cost of goods manufactured | ||||||||
| Location of all completed jobs awaiting sale | Finished goods | ||||||||
Add Answer to:
Match the phrase to the right answer.
(finished goods, actual, cost of goods manufactured, work in...
1. Match the phrase to the right answer. -Type of labor incurred by hands-on factory works...
1. Match the phrase to the right answer. -Type of labor incurred by hands-on factory works -Document for capturing labor hours -Account where jobs are born -Type of Overhead put into WIP when using Job Costing -Landing place for sold jobs -Cost of finished products for the period -Location of all completed jobs awaiting sale Answers to choose from are: Direct, Actual, Timecard, Allocated, Work in Process(WIP), Cost of goods manufactured, finished goods, cost of goods sold
1. Match the phrase to the right answer. -Type of labor incurred by hands on factory...
1. Match the phrase to the right answer. -Type of labor incurred by hands on factory workers -Document for capturing labor hours -Account where jobs are born -Type of Overhead put into WIP when using Job Costing -Landing place for sold jobs -Cost of finished products for the period Location of all completed jobs awaiting sale Some Options are: Direct, Actual, Timecard, Allocated, Work in process, Cost of goods manufactured, Finished Goods, Cost of goods sold. 2. Put the following...
Chapter 3 Module: ACG2O71.CMB-2086 00057 Quie: BB 3-6 Hint: This brain booster is more of a...
Chapter 3 Module: ACG2O71.CMB-2086 00057 Quie: BB 3-6 Hint: This brain booster is more of a terminology/conceptual question. no calculations are required: llabus signments Text D Question 1 2 pts odules nedule Match the phrase to the right answer. 1 Module 2 Module Type of labor incurred by hands on factory workers [Choose . 3 Module Document for capturing labor hours 4 Module [Choose) 6 Module Account where jobs are bom [Choose 7 Module 8 Module Type of Overhead put...
3. Prepare a schedule of cost of goods manufactured Saved Required information [The following information applies...
3.
Prepare a schedule of cost of goods manufactured
Saved Required information [The following information applies to the questions displayed below.) Marcelino Cols March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385.000. Overhead costs incurred in April are: indirect materials, $55,000; Indirect labor, $22,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of direct labor cost. Job...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data:...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data: Raw Materials Inventory, Jan. 1 $10 Raw Materials Inventory, Dec. 31 Work-in-Process Inventory, Jan. 1 Work-in-Process Inventory, Dec. 31 Finished Goods Inventory, Jan. 1 Finished Goods Inventory, Dec. 31 Raw Materials Purchased, incl. freight 30 Direct Labor 40 Manufacturing (factory) Overhead Schedule of Costs of Goods Manufactured Year Ended December 31, 2018 Beginning Work-in-Process Direct Materials Used: Beginning Raw Materials Inventory Purchased of Raw...
Forrest River Medical Supply Products Corp. Cost of Goods Manufactured Raw Material (January 1) 5 Purchases...
Forrest River Medical Supply Products Corp. Cost of Goods Manufactured Raw Material (January 1) 5 Purchases 6 Raw Material Available 7 Raw Material (January 31) 8 Raw Material Used 9 Direct Labor 10 Overhead: 11 Depr. Factory Equipment 12 Repairs/Maintenance-Factory 13 Indirect Labor 14 Insurance-Factory 15 Indirect Materials 16 Total Overhead 17 Total Manufacturing Costs 18 Work in Process (January 1) 19 Repairs/Maintenance Factory Indirect Labor Insurance Factory Indirect Materials Total Overhead Total Manufacturing Costs Work in Process (January 1)...
1)A manufacturer's cost of goods manufactured is the sum of direct materials, direct labor, and factory...
1)A manufacturer's cost of goods manufactured is the sum of direct materials, direct labor, and factory overhead costs incurred in producing products. True or False 2) Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $1,500 of direct materials and used $3,000 of direct labor. The job was not finished by the end of September, but needed an additional $2,000 of direct materials and additional direct labor of $4,500 to finish...
1. calculate the cost of goods manufactured for march 2. calculate the balance in the work...
1. calculate the cost of goods manufactured for march
2. calculate the balance in the work in progress inventory
account as of march 31.
3. calculate the cost of goods sold for march.
4. calculate the balance in the finished goods inventory
account as of march 31.
Bonita Company produces high quality microscopes for education and health care uses. The company uses a job order costing system. Because the microscopes' optics require significant manual labor to ensure adherence to strict...
E2-11 (Algo) Calculating Cost of Jobs in Work in Process, Finished Goods, and Cost of Goods...
E2-11 (Algo) Calculating Cost of Jobs in Work in Process, Finished Goods, and Cost of Goods Sold [LO 2- Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A...
Prepare the cost of goods manufactured schedule. $ Raw materials purchased Beginning raw materials Direct materials...
Prepare the cost of goods manufactured schedule.
$ Raw materials purchased Beginning raw materials Direct materials used Indirect materials requested Indirect labor Utilities - administration area Utilities - factory area Rent - adminstration Rent - factory Taxes - administration Taxes-factory Other factory Other manufacturing overhead actual Direct labor Manufacturing overhead applied at 150% of direct costs Beginning WIP Ending WIP Beginning finished good Ending finished goods 850 40 750 30 100 90 200 100 200 200 500 500 75 250...
Chapter 3 Module: ACG2O71.CMB-2086 00057 Quie: BB 3-6 Hint: This brain booster is more of a terminology/conceptual question. no calculations are required: llabus signments Text D Question 1 2 pts odules nedule Match the phrase to the right answer. 1 Module 2 Module Type of labor incurred by hands on factory workers [Choose . 3 Module Document for capturing labor hours 4 Module [Choose) 6 Module Account where jobs are bom [Choose 7 Module 8 Module Type of Overhead put...
3.
Prepare a schedule of cost of goods manufactured
Saved Required information [The following information applies to the questions displayed below.) Marcelino Cols March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385.000. Overhead costs incurred in April are: indirect materials, $55,000; Indirect labor, $22,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of direct labor cost. Job...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data: Raw Materials Inventory, Jan. 1 $10 Raw Materials Inventory, Dec. 31 Work-in-Process Inventory, Jan. 1 Work-in-Process Inventory, Dec. 31 Finished Goods Inventory, Jan. 1 Finished Goods Inventory, Dec. 31 Raw Materials Purchased, incl. freight 30 Direct Labor 40 Manufacturing (factory) Overhead Schedule of Costs of Goods Manufactured Year Ended December 31, 2018 Beginning Work-in-Process Direct Materials Used: Beginning Raw Materials Inventory Purchased of Raw...
Forrest River Medical Supply Products Corp. Cost of Goods Manufactured Raw Material (January 1) 5 Purchases 6 Raw Material Available 7 Raw Material (January 31) 8 Raw Material Used 9 Direct Labor 10 Overhead: 11 Depr. Factory Equipment 12 Repairs/Maintenance-Factory 13 Indirect Labor 14 Insurance-Factory 15 Indirect Materials 16 Total Overhead 17 Total Manufacturing Costs 18 Work in Process (January 1) 19 Repairs/Maintenance Factory Indirect Labor Insurance Factory Indirect Materials Total Overhead Total Manufacturing Costs Work in Process (January 1)...
1. calculate the cost of goods manufactured for march
2. calculate the balance in the work in progress inventory
account as of march 31.
3. calculate the cost of goods sold for march.
4. calculate the balance in the finished goods inventory
account as of march 31.
Bonita Company produces high quality microscopes for education and health care uses. The company uses a job order costing system. Because the microscopes' optics require significant manual labor to ensure adherence to strict...
E2-11 (Algo) Calculating Cost of Jobs in Work in Process, Finished Goods, and Cost of Goods Sold [LO 2- Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A...
Prepare the cost of goods manufactured schedule.
$ Raw materials purchased Beginning raw materials Direct materials used Indirect materials requested Indirect labor Utilities - administration area Utilities - factory area Rent - adminstration Rent - factory Taxes - administration Taxes-factory Other factory Other manufacturing overhead actual Direct labor Manufacturing overhead applied at 150% of direct costs Beginning WIP Ending WIP Beginning finished good Ending finished goods 850 40 750 30 100 90 200 100 200 200 500 500 75 250...
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