The document which indicates the type and quantity of each material issued to the factory is...
The document which indicates the type and quantity of each material issued to the factory is called the: A. materials requisition form B. production list C. work ticket D. control account
Homework Answers
The correct answer is Option 'D' Control account.
Material Control accounts indicate the type and quantity of each
material issued to the factory/department.
-Material Requisition form is a form which is used by the
department to request the materials required by them for their
activities.
-Work Ticket is labor related and time spent by them in
working.
Add Answer to:
The document which indicates the type and quantity of each
material issued to the factory is...
3. A document that lists the type and quantity of each type of direct material needed...
3. A document that lists the type and quantity of each type of direct material needed to make a product: a. Job order costing b. Bill of materials c. Absorption costing d. Job cost sheet
1. LO 41 Which of the following product situations is better suited to job order costing...
1. LO 41 Which of the following product situations is better suited to job order costing than to process conting? A Each product batch is exactly the same as the prior batch B. The costs are easily traced to a specific product. C. Costs are accumulated by department D. The value of work in process is based on assigning standard costs. 2. LO 41 A job order costing system is most likely used by which of the following? A. a...
Required: (a) Prepare ledger accounts for material control, labour control, factory overhead control, work in process...
Required:
(a) Prepare ledger accounts for material control, labour
control, factory overhead control, work in process and finished
goods.
(b) Prepare a trading statement showing the gross margin on each
job sold and the total gross profit for June.
8.7 Ledger accounts, over/under-applied, trading statement As the cost accountant for Purdy Products you are provided with the following information covering the manufacturing operations for June. (Note: GST is ignored in this question.) Ledger balances-1 June Finished goods Job 70 Job...
at $11.30; 5,750 units of Material at $5.90 each. The receiving report indicates that the units...
at $11.30; 5,750 units of Material at $5.90 each. The receiving report indicates that the units ordered were received except for material 4-97, which was 900 units short. In addition, 200 units of Material 3-87 were defective and were returned to the supplier. A debit memorandum was prepared. -A) Calculate the economic order quantity and the recorder point. (Obj. 3). The fol- lowing information relates to materials purchases for the Edwards Company: Material B 63,375 lb $10 Material A 4,000...
help Recording Issuing of Materials Materials issued for the current month are as follows: Requisition No....
help
Recording Issuing of Materials Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 945 Fiberglass 78 $23,936 946 Plastic 93 11,696 947 Glue Indirect 1,299 948 Wood 99 4,284 949 Aluminium 108 45,492 a. Determine the amount of materials transferred to Work in Process and Factory Overhead for the current month. Materials transferred to Work in Process Materials transferred to Factory Overhead Þ. Illustrate the effect on the accounts and financial statements of...
A source document that an employee uses to record the number of hours at work and...
A source document that an employee uses to record the number of hours at work and that is used to determine the total labor cost for each pay period is a: Select one: a. Job cost sheet. b. Hours-of-production sheet. c. Time ticket. d. Job order ticket. e. Clock card.
calculating price and usage variances for each type of material and for labor. I am stuck...
calculating price and usage variances for each type of
material and for labor.
I am stuck on a portion of this. looking for an
example or similar
BAL RDI Products Co. manufactures a variety of products made of plastic and aluminum components. During the winter months, substantially all of the production capacity is devoted to the production of lawn sprinklers for the following spring and summer seasons. Other products are manufactured during the remainder of the year. The company has...
The standard cost card for a product indicates that one unit of the product requires 6...
The standard cost card for a product indicates that one unit of the product requires 6 kilograms of a raw material at $0.80 per kilogram. The production of the product in April was 840 units, but production had been budgeted for 820 units. During April, 7,900 kilograms of the raw material were purchased for $6,732 and 5,320 kilograms of the raw material were used in production. The material variances for April were: Materials price variance Materials quantity variance A) $466U...
Sager Company manufactures variations of its product, a technopress, in response to custom orders from its...
Sager Company manufactures variations of its product, a technopress, in response to custom orders from its customers. On May 1, the company had no inventories of work in process or finished goods but held the following raw materials. Material M Material R Paint Total cost 250 units 140 units 85 units @ $260 = @ 220 = @ 105 = $ 65,000 30,800 8,925 $104,725 On May 4, the company began working on two technopresses: Job 102 for Worldwide Company...
A structure tree of the components in a product, with a description and the quantity required to make each product i...
A structure tree of the components in a product, with a description and the quantity required to make each product is called a(n) D) Bill of Materials B) MRP system. A) ERP system E) Inventory Receipt C) Master production schedule.
A structure tree of the components in a product, with a description and the quantity required to make each product is called a(n) D) Bill of Materials B) MRP system. A) ERP system E) Inventory Receipt C) Master production schedule.
1. LO 41 Which of the following product situations is better suited to job order costing than to process conting? A Each product batch is exactly the same as the prior batch B. The costs are easily traced to a specific product. C. Costs are accumulated by department D. The value of work in process is based on assigning standard costs. 2. LO 41 A job order costing system is most likely used by which of the following? A. a...
Required:
(a) Prepare ledger accounts for material control, labour
control, factory overhead control, work in process and finished
goods.
(b) Prepare a trading statement showing the gross margin on each
job sold and the total gross profit for June.
8.7 Ledger accounts, over/under-applied, trading statement As the cost accountant for Purdy Products you are provided with the following information covering the manufacturing operations for June. (Note: GST is ignored in this question.) Ledger balances-1 June Finished goods Job 70 Job...
at $11.30; 5,750 units of Material at $5.90 each. The receiving report indicates that the units ordered were received except for material 4-97, which was 900 units short. In addition, 200 units of Material 3-87 were defective and were returned to the supplier. A debit memorandum was prepared. -A) Calculate the economic order quantity and the recorder point. (Obj. 3). The fol- lowing information relates to materials purchases for the Edwards Company: Material B 63,375 lb $10 Material A 4,000...
help
Recording Issuing of Materials Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 945 Fiberglass 78 $23,936 946 Plastic 93 11,696 947 Glue Indirect 1,299 948 Wood 99 4,284 949 Aluminium 108 45,492 a. Determine the amount of materials transferred to Work in Process and Factory Overhead for the current month. Materials transferred to Work in Process Materials transferred to Factory Overhead Þ. Illustrate the effect on the accounts and financial statements of...
calculating price and usage variances for each type of
material and for labor.
I am stuck on a portion of this. looking for an
example or similar
BAL RDI Products Co. manufactures a variety of products made of plastic and aluminum components. During the winter months, substantially all of the production capacity is devoted to the production of lawn sprinklers for the following spring and summer seasons. Other products are manufactured during the remainder of the year. The company has...
Sager Company manufactures variations of its product, a technopress, in response to custom orders from its customers. On May 1, the company had no inventories of work in process or finished goods but held the following raw materials. Material M Material R Paint Total cost 250 units 140 units 85 units @ $260 = @ 220 = @ 105 = $ 65,000 30,800 8,925 $104,725 On May 4, the company began working on two technopresses: Job 102 for Worldwide Company...
A structure tree of the components in a product, with a description and the quantity required to make each product is called a(n) D) Bill of Materials B) MRP system. A) ERP system E) Inventory Receipt C) Master production schedule.
A structure tree of the components in a product, with a description and the quantity required to make each product is called a(n) D) Bill of Materials B) MRP system. A) ERP system E) Inventory Receipt C) Master production schedule.
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