Explain the purpose and use of a "materials requisition slip" as used in a job order...
Explain the purpose and use of a "materials requisition slip" as used in a job order cost system.
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Explain the purpose and use of a "materials requisition slip" as
used in a job order...
Question 20 3 pts A materials requisition slip showed that materials requisitioned for Job 105 were...
Question 20 3 pts A materials requisition slip showed that materials requisitioned for Job 105 were $78,000 and materials for general use requisitioned were $15,000. The entry to record the transfer of materials from the storeroom to production is O "Debit" Finished Goods Inventory $93,000 and "Credit" Raw Materials Inventory $93,000 O "Debit" Finished Goods Inventory $78,000, "Debit" Manufacturing Overhead $15,000 and "Credit" Work-in-Process Inventory $93,000 O "Debit" Work-in-Process Inventory $78,000, "Debit" Manufacturing Overhead $15,000 and "Credit" Raw Materials Inventory...
NOTE** Please use 200 words. Instructions: Explain and provide an example for the following job order...
NOTE** Please use 200 words. Instructions: Explain and provide an example for the following job order cost system entries: initial purchase of raw materials, the requisition of materials from the warehouse to the production floor, and factory labor used in production. For each journal entry, identify if the cost being recorded is a product cost o r a period cost. THANK YOU :)
View Policies Current Attempt in Progress Amaterials requisition slip showed that direct materials requested were $66000...
View Policies Current Attempt in Progress Amaterials requisition slip showed that direct materials requested were $66000 and indirect materials requested were $15000. The entry to record the transfer of materials from the storeroom is 81000 O Manufacturing Overhead Raw Materials Inventory 81000 66000 O Work In Process Inventory Raw Materials Inventory 66000 Direct Materials Indirect Materials Work in Process Inventory 66000 15000 81000 Work In Process Inventory Manufacturing Overhead Raw Materials Inventory 66000 15000 81000 Attempts: 0 of 1 used...
5. What journal entry is recorded when a materials manager receives a materials requisition and then...
5. What journal entry is recorded when a materials manager receives a materials requisition and then issues materials (both direct and indirect) for use in the factory? 11. Why must a company use predetermined overhead rates when using job order costing?
If the chief complaint is included on the patient’s examination requisition/ order, what is the purpose...
If the chief complaint is included on the patient’s examination requisition/ order, what is the purpose of continuing to obtain a thorough patient history?
What kind of firm would use a job order cost system? Which account is used in...
What kind of firm would use a job order cost system? Which account is used in the job order cost system to accumulate direct materials, direct labor, and factory overhead applied to production costs for individual jobs? Discuss how the predetermined factory overhead rate can be used in job order cost accounting to assist management in pricing jobs. What is (1) overapplied factory overhead and (2) underapplied factory overhead? Cite and give credit to the author that you are citing
The cost of direct materials is assigned to a job by the use of a source...
The cost of direct materials is assigned to a job by the use of a source document known as a time ticket schedule of cost of goods manufactured sales receipt O materials requisition form All of these choices are correct
The document that lists the total cost for a single job is a job-order cost sheet....
The document that lists the total cost for a single job is a job-order cost sheet. materials requisition form. time ticket. purchase order. None of these are correct.
Entry for Issuing Materials Materials issued are as follows: Requisition No. Material Job No. Amount Aluminum...
Entry for Issuing Materials Materials issued are as follows: Requisition No. Material Job No. Amount Aluminum 500 $976,000 201 Plastic 503 202 412,300 Rubber 203 504 187,700 Glue Indirect 204 150,000 Steel 510 205 619,000 Journalize the entry to record the issuance of materials. If an amount box does not require an entry, leave it blank.
What is the purpose of job order costing? Give an example of a company who may...
What is the purpose of job order costing? Give an example of a company who may use job-order costing and explain why you think so.
Question 20 3 pts A materials requisition slip showed that materials requisitioned for Job 105 were $78,000 and materials for general use requisitioned were $15,000. The entry to record the transfer of materials from the storeroom to production is O "Debit" Finished Goods Inventory $93,000 and "Credit" Raw Materials Inventory $93,000 O "Debit" Finished Goods Inventory $78,000, "Debit" Manufacturing Overhead $15,000 and "Credit" Work-in-Process Inventory $93,000 O "Debit" Work-in-Process Inventory $78,000, "Debit" Manufacturing Overhead $15,000 and "Credit" Raw Materials Inventory...
View Policies Current Attempt in Progress Amaterials requisition slip showed that direct materials requested were $66000 and indirect materials requested were $15000. The entry to record the transfer of materials from the storeroom is 81000 O Manufacturing Overhead Raw Materials Inventory 81000 66000 O Work In Process Inventory Raw Materials Inventory 66000 Direct Materials Indirect Materials Work in Process Inventory 66000 15000 81000 Work In Process Inventory Manufacturing Overhead Raw Materials Inventory 66000 15000 81000 Attempts: 0 of 1 used...
5. What journal entry is recorded when a materials manager receives a materials requisition and then issues materials (both direct and indirect) for use in the factory? 11. Why must a company use predetermined overhead rates when using job order costing?
The cost of direct materials is assigned to a job by the use of a source document known as a time ticket schedule of cost of goods manufactured sales receipt O materials requisition form All of these choices are correct
Entry for Issuing Materials Materials issued are as follows: Requisition No. Material Job No. Amount Aluminum 500 $976,000 201 Plastic 503 202 412,300 Rubber 203 504 187,700 Glue Indirect 204 150,000 Steel 510 205 619,000 Journalize the entry to record the issuance of materials. If an amount box does not require an entry, leave it blank.
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