Homework Answers
Correct answer-------------(C)
| WIP Inventory-Assembly | XXX | |
| Manufacturing Overhead | XXX |
WIP Inventory of the department on whom overhead are applied are debited and Manufacturing overhead is credited. The actual manufacturing overhead spent and the overhead applied is adjusted at the end of the year.
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The journal entry a company would make under process costing to record allocated manufacturing overhead incurred...
The jounal entry a company would make under process costing to record the transfer of costs...
The jounal entry a company would make under process costing to record the transfer of costs from the Assembly Department to the Packaging Department would be O A. WIP Inventory - Assembly О B. WIP Inventory-Packaging c- wMP Inventory-Packaging CGS WIP Inventory - Assembly Finished Goods Inventory WIP Inventory Assembly O D. Finished Goods Inventory
10 of 10 (8 Complete This Question: 1 pt The joumal entry a company would make...
10 of 10 (8 Complete This Question: 1 pt The joumal entry a company would make under process costing to record the transfer of costs from the Assembly Department to the xxX O A. WIP Inventory- Assembly CGS 0 B. WIP Inventory-Packaging O C. Finished Goods Inventory O D. WIP Inventory-Packaging Finished Goods Inventory WIP Inventory- Assembly WIP Inventory- Assembly Click to select your answer 5 6 7 8
The journal entry to record applying overhead during the production process is: 0 Manufacturing Overhead Work...
The journal entry to record applying overhead during the production process is: 0 Manufacturing Overhead Work In Process 0 XXX Finished Goods Manufacturing Overhead XXX 0 Manufacturing Overhead Finished Goods XXX XXX 0 Work In Process Manufacturing Overhead
Record the following process costing transactions in the general joumal: (Click the icon to view the...
Record the following process costing transactions in the general joumal: (Click the icon to view the transactions.) a. Record the purchase of raw materials on account, $9,800. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Accounts Debit Credit Date More info b. ACDOU Payable Accumulated Depreciation Plant Cash Finished Goods Inventory Manufacturing Overhead Prepaid Insurance Plant Property Taxes Payable Plant Raw Materials Inwentory Ulities Payable Wages Payable Work in Process Inventory Assembly Work in Process...
correct answer 18) In a process costing system, the entry to record the use of direct...
correct answer
18) In a process costing system, the entry to record the use of direct materials in production would include which of the following? A) debit to work in process inventory B) credit to finished goods inventory C) debit to materials inventory D) debit to finished goods inventory 18) 19) 19) The entry to record actual manufacturing overhead incurred in a processing department would department would include which of the following? A) credit to work in process inventory B)...
Which of the following journal entries would be used to record application of manufacturing overhead to...
Which of the following journal entries would be used to record application of manufacturing overhead to work in process in a process costing system with two processing departments, Department A and Department B? A) Manufacturing Overhead Work in Process-Department A Work in Process-Department B xXX B) Work in Process Department A Work In Process-Department B Manufacturing Overhead C) Work in Process-Department B Work in Process-Department A Manufacturing Overhead D) Work In Process-Dcpartment A Work in Process-Department B Manufacturing Overhead XxX...
In Process Costing, the journal entry to record the cost of goods transferred out from the...
In Process Costing, the journal entry to record the cost of goods transferred out from the WIP shaping department to the WIP packaging department would be a debit to WIP - shaping department and a credit to WIP - packaging department. True False
The Mixing Department incurred the following costs during the month: (Click the icon to view the...
The Mixing Department incurred the following costs during the month: (Click the icon to view the costs incurred.) What is the journal entry to record the costs incurred during the month? Date Accounts and Explanation Debit Credit OA 1,085 i Costs Incurred Work-in-Process Inventory - Mixing Raw Materials Inventory Wages Payable Manufacturing Overhead Direct OB. Manufacturing Overhead Allocated 1,085 Materials Work-in-Process Inventory - Mixing Raw Materials Inventory Conversion Costs Direct Labor 45 2 20 Beginning WIP $ $ Added this...
Record direct labor cost incurred for Refining and Blending Department. Record manufacturing expenses incurred for the...
Record direct labor cost incurred for Refining and Blending
Department.
Record manufacturing expenses incurred for the whole
factory.
Record entry to apply overhead cost to production at a
predetermined rate to the Refining Department and Blending
Department.
Record transfer of semi finished units from Refining to
Blending Department.
Record the transfer of completed units from the Blending
Department to finished goods.
Record sales on account.
Record cost of goods sold.
Problem 4-17 Cost Flows [LO 4-1] Lubricants, Inc., produces a...
A company that uses a job order costing system would make the following entry to record...
A company that uses a job order costing system would make the following entry to record the flow of direct materials into production: Multiple Choice o o debit Work in Process Inventory, credit Cost of Goods Sold. debit Work in Process Inventory, credit Factory Overhead. o debit Finished Goods Inventory, credit Raw Materials Inventory. o debit Factory Overhead, credit Raw Materials Inventory. O debit Work in Process Inventory, credit Raw Materials Inventory.
The jounal entry a company would make under process costing to record the transfer of costs from the Assembly Department to the Packaging Department would be O A. WIP Inventory - Assembly О B. WIP Inventory-Packaging c- wMP Inventory-Packaging CGS WIP Inventory - Assembly Finished Goods Inventory WIP Inventory Assembly O D. Finished Goods Inventory
10 of 10 (8 Complete This Question: 1 pt The joumal entry a company would make under process costing to record the transfer of costs from the Assembly Department to the xxX O A. WIP Inventory- Assembly CGS 0 B. WIP Inventory-Packaging O C. Finished Goods Inventory O D. WIP Inventory-Packaging Finished Goods Inventory WIP Inventory- Assembly WIP Inventory- Assembly Click to select your answer 5 6 7 8
The journal entry to record applying overhead during the production process is: 0 Manufacturing Overhead Work In Process 0 XXX Finished Goods Manufacturing Overhead XXX 0 Manufacturing Overhead Finished Goods XXX XXX 0 Work In Process Manufacturing Overhead
Record the following process costing transactions in the general joumal: (Click the icon to view the transactions.) a. Record the purchase of raw materials on account, $9,800. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Accounts Debit Credit Date More info b. ACDOU Payable Accumulated Depreciation Plant Cash Finished Goods Inventory Manufacturing Overhead Prepaid Insurance Plant Property Taxes Payable Plant Raw Materials Inwentory Ulities Payable Wages Payable Work in Process Inventory Assembly Work in Process...
correct answer
18) In a process costing system, the entry to record the use of direct materials in production would include which of the following? A) debit to work in process inventory B) credit to finished goods inventory C) debit to materials inventory D) debit to finished goods inventory 18) 19) 19) The entry to record actual manufacturing overhead incurred in a processing department would department would include which of the following? A) credit to work in process inventory B)...
Which of the following journal entries would be used to record application of manufacturing overhead to work in process in a process costing system with two processing departments, Department A and Department B? A) Manufacturing Overhead Work in Process-Department A Work in Process-Department B xXX B) Work in Process Department A Work In Process-Department B Manufacturing Overhead C) Work in Process-Department B Work in Process-Department A Manufacturing Overhead D) Work In Process-Dcpartment A Work in Process-Department B Manufacturing Overhead XxX...
The Mixing Department incurred the following costs during the month: (Click the icon to view the costs incurred.) What is the journal entry to record the costs incurred during the month? Date Accounts and Explanation Debit Credit OA 1,085 i Costs Incurred Work-in-Process Inventory - Mixing Raw Materials Inventory Wages Payable Manufacturing Overhead Direct OB. Manufacturing Overhead Allocated 1,085 Materials Work-in-Process Inventory - Mixing Raw Materials Inventory Conversion Costs Direct Labor 45 2 20 Beginning WIP $ $ Added this...
Record direct labor cost incurred for Refining and Blending
Department.
Record manufacturing expenses incurred for the whole
factory.
Record entry to apply overhead cost to production at a
predetermined rate to the Refining Department and Blending
Department.
Record transfer of semi finished units from Refining to
Blending Department.
Record the transfer of completed units from the Blending
Department to finished goods.
Record sales on account.
Record cost of goods sold.
Problem 4-17 Cost Flows [LO 4-1] Lubricants, Inc., produces a...
A company that uses a job order costing system would make the following entry to record the flow of direct materials into production: Multiple Choice o o debit Work in Process Inventory, credit Cost of Goods Sold. debit Work in Process Inventory, credit Factory Overhead. o debit Finished Goods Inventory, credit Raw Materials Inventory. o debit Factory Overhead, credit Raw Materials Inventory. O debit Work in Process Inventory, credit Raw Materials Inventory.
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