Homework Answers
| Raw-Material Inventory | Accounts Payable | |||||||
| Bal.1/1 | $ 21,200.00 | $ 2,500.00 | Bal.1/1 | |||||
| $ 135,000.00 | $ 120,200.00 | $ 136,500.00 | $ 135,000.00 | |||||
| Bal. 12/31 | $ 36,000.00 | $ 1,000.00 | Bal. 12/31 | |||||
| Work in Process Inventory | Finished Goods Inventory | |||||||
| Bal.1/1 | $ 17,000.00 | Bal.1/1 | $ 12,000.00 | |||||
| Direct Material | $ 120,200.00 | $ 718,200.00 | $ 710,200.00 | |||||
| Direct Labour | $ 150,000.00 | $ 718,200.00 | Bal. 12/31 | $ 20,000.00 | ||||
| Manufacturing Overhead | $ 450,000.00 | |||||||
| Bal. 12/31 | $ 19,000.00 | |||||||
| Manufacturing Overhead | Cost of good Sold | |||||||
| $ 452,600.00 | $ 450,000.00 | $ 710,200.00 | ||||||
| $ 710,200.00 | ||||||||
| Wages Payable | Sales Revenue | |||||||
| $ 2,000.00 | Bal.1/1 | $ 809,900.00 | ||||||
| $ 147,000.00 | $ 150,000.00 | |||||||
| $ 5,000.00 | Bal. 12/31 | |||||||
| Accounts Receivables | ||||||||
| Bal.1/1 | $ 11,100.00 | |||||||
| $ 809,900.00 | $ 806,000.00 | |||||||
| Bal. 12/31 | $ 15,000.00 | |||||||
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Perfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's ledger as of December...
Perfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto’s ledger as of December...
Perfecto Pizza Company produces microwavable pizzas. The
following accounts appeared in Perfecto’s ledger as of December
31.
Additional information:
a. Accounts payable is used only for direct-material
purchases.
b. Underapplied overhead of $2,700 for the year has not yet been
closed into cost of goods sold.
Required:
Complete the following T-accounts
Raw-Material Inventory Bal. 1/1 21,000 Accounts Payable 2,600 Bal. 1/1 136,500 1,000 Bal. 12/31 Bal. 12/31 36,000 Work-in-Process Inventory 17,000 Finished-Goods Inventory 12,000 Bal. 1/1 Bal. 1/1 Direct material...
FILL OUT BLUE SQUARES Perfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's...
FILL OUT BLUE SQUARES
Perfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's ledger as of December 31. Additional information: a. Accounts payable is used only for direct-material purchases. b. Underapplied overhead of $2,700 for the year has not yet been closed into cost of goods sold. Required: Complete the following T-accounts. Bal. 1/1 Raw-Material Inventory 21,300 134,800 36,000 Accounts Payable 2,700 Bal. 1/1 136,500 1,000 Bal. 12/31 Bal. 12/31 Work-in-Process Inventory 17,000 Finished-Goods Inventory 12,000 Bal....
Perfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's ledger as of December...
Perfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's ledger as of December 31. Additional information: a. Accounts payable is used only for direct-material purchases. b. Underapplied overhead of $2.500 for the year has not yet been closed into cost of goods sold. Required: Complete the following T-accounts. Raw-Material Inventory Bal. 1/1 21,100 Accounts Payable 2,600 Bal. 1/1 136,500 1,000 Bal 12/31 Bal 12/31 36,000 Work-in-Process Inventory 17,000 Finished-Goods Inventory 12,000 Bal. 1/1 Bal 1/1 Direct material...
That is the whole question to fill in the highlight blue ! Perfecto Pizza Company produces...
That is the whole question to fill in the highlight blue !
Perfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's ledger as of December 31. Additional information: a. Accounts payable is used only for direct-material purchases. b. Underapplied overhead of $2,600 for the year has not yet been closed into cost of goods sold. Required: Complete the following T-accounts. Bal. 1/1 Raw Material Inventory 21,100 135,000 120,100 36,000 Accounts Payable 2,500 Bal. 1/1 136,500 135,000 1,000...
Problem 3-44 Manufacturing Cost Flows; Analysis of T-Accounts (LO 3-2, 3-5) Perfecto Pizza Compan...
Problem 3-44 Manufacturing Cost Flows; Analysis of T-Accounts
(LO 3-2, 3-5)
Perfecto Pizza Company produces microwavable pizzas. The
following accounts appeared in Perfecto’s ledger as of December
31.
Additional information:
a. Accounts payable is used only for direct-material
purchases.
b. Underapplied overhead of $2,600 for the year has not yet been
closed into cost of goods sold.
Required:
Complete the following T-accounts.
Raw-Material Inventory Accounts Payable Bal. 1/1 21,000 2,600 Bal. 1/1 136,500 Ba. 12/31 36,000 1,000 Bal. 12/31 Work-in-Process...
The following transactions occurred in April at Steve’s Cabinets, a custom cabinet firm: Purchased $21,500 of...
The following transactions occurred in April at Steve’s
Cabinets, a custom cabinet firm:
Purchased $21,500 of materials on account.
Issued $1,350 of supplies from the materials inventory.
Purchased $12,300 of materials on account.
Paid for the materials purchased in transaction (1) using
cash.
Issued $14,700 in direct materials to the production
department.
Incurred direct labor costs of $25,500, which were credited to
Wages Payable.
Paid $22,300 cash for utilities, power, equipment maintenance,
and other miscellaneous items for the manufacturing plant....
Selected ledger accounts for Realm Company are given below for the just-completed year: Raw Materials Credits...
Selected ledger accounts for Realm Company are given below for the just-completed year: Raw Materials Credits Bal. 1/1 Debits 45,000 495,000 Bal. 31/12 90,000 Manufacturing Overhead Debits 437,000 Credits Work in Process Credits 936, 100 Bal. 1/1 Direct materials Direct labour Overhead 92,500 350,000 140,000 455,000 Bal. 31/12 Factory Wages Payable Debits 216,500 Bal. 1/1 Credits 25,000 212,500 Bal. 31/12 21,000 Finished Goods 67,000 Credit Debits Bal. 31/12 175,000 Cost of Goods Sold Debits 1. What was the cost of...
Reimel Furniture Company, Inc. incurred the following costs during 20x2. Direct material used $ 172,000 Direct...
Reimel Furniture Company, Inc. incurred the following costs
during 20x2.
Direct material used
$
172,000
Direct labor
320,000
Manufacturing overhead
160,000
During 20x2, products costing $120,000 were finished, and products
costing $132,000 were sold on account for $193,000. There were no
purchases of raw material during the year. The beginning balances
in the firm’s inventory accounts are as follows:
Raw material
$
226,000
Work in process
14,000
Finished goods
30,000
Exercise 3-31 Part 1
Required:
1. Prepare T-accounts to show...
Required information The following information applies to the questions displayed below Reimel Furniture Company, Inc. incurred...
Required information The following information applies to the questions displayed below Reimel Furniture Company, Inc. incurred the following costs during 20x2. Direct material used Direct labor Manufacturing overhead $173,000 320,000 160,000 During 20x2, products costing $122,000 were finished, and products costing $132,000 were sold on account for $197,000. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows: Raw material Work in process Finished goods $226,000 14,000 30,000 Required:...
Required information (The following information applies to the questions displayed below.] Reimel Furniture Company, Inc. incurred...
Required information (The following information applies to the questions displayed below.] Reimel Furniture Company, Inc. incurred the following costs during 20x2. Direct material used Direct labor Manufacturing overhead $ 173,000 319,000 180,000 During 20x2, products costing $121,000 were finished, and products costing $132,000 were sold on account for $193,000. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows: Raw material Work in process Finished goods $ 225,000 16,000...
Perfecto Pizza Company produces microwavable pizzas. The
following accounts appeared in Perfecto’s ledger as of December
31.
Additional information:
a. Accounts payable is used only for direct-material
purchases.
b. Underapplied overhead of $2,700 for the year has not yet been
closed into cost of goods sold.
Required:
Complete the following T-accounts
Raw-Material Inventory Bal. 1/1 21,000 Accounts Payable 2,600 Bal. 1/1 136,500 1,000 Bal. 12/31 Bal. 12/31 36,000 Work-in-Process Inventory 17,000 Finished-Goods Inventory 12,000 Bal. 1/1 Bal. 1/1 Direct material...
FILL OUT BLUE SQUARES
Perfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's ledger as of December 31. Additional information: a. Accounts payable is used only for direct-material purchases. b. Underapplied overhead of $2,700 for the year has not yet been closed into cost of goods sold. Required: Complete the following T-accounts. Bal. 1/1 Raw-Material Inventory 21,300 134,800 36,000 Accounts Payable 2,700 Bal. 1/1 136,500 1,000 Bal. 12/31 Bal. 12/31 Work-in-Process Inventory 17,000 Finished-Goods Inventory 12,000 Bal....
Perfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's ledger as of December 31. Additional information: a. Accounts payable is used only for direct-material purchases. b. Underapplied overhead of $2.500 for the year has not yet been closed into cost of goods sold. Required: Complete the following T-accounts. Raw-Material Inventory Bal. 1/1 21,100 Accounts Payable 2,600 Bal. 1/1 136,500 1,000 Bal 12/31 Bal 12/31 36,000 Work-in-Process Inventory 17,000 Finished-Goods Inventory 12,000 Bal. 1/1 Bal 1/1 Direct material...
That is the whole question to fill in the highlight blue !
Perfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's ledger as of December 31. Additional information: a. Accounts payable is used only for direct-material purchases. b. Underapplied overhead of $2,600 for the year has not yet been closed into cost of goods sold. Required: Complete the following T-accounts. Bal. 1/1 Raw Material Inventory 21,100 135,000 120,100 36,000 Accounts Payable 2,500 Bal. 1/1 136,500 135,000 1,000...
Problem 3-44 Manufacturing Cost Flows; Analysis of T-Accounts
(LO 3-2, 3-5)
Perfecto Pizza Company produces microwavable pizzas. The
following accounts appeared in Perfecto’s ledger as of December
31.
Additional information:
a. Accounts payable is used only for direct-material
purchases.
b. Underapplied overhead of $2,600 for the year has not yet been
closed into cost of goods sold.
Required:
Complete the following T-accounts.
Raw-Material Inventory Accounts Payable Bal. 1/1 21,000 2,600 Bal. 1/1 136,500 Ba. 12/31 36,000 1,000 Bal. 12/31 Work-in-Process...
The following transactions occurred in April at Steve’s
Cabinets, a custom cabinet firm:
Purchased $21,500 of materials on account.
Issued $1,350 of supplies from the materials inventory.
Purchased $12,300 of materials on account.
Paid for the materials purchased in transaction (1) using
cash.
Issued $14,700 in direct materials to the production
department.
Incurred direct labor costs of $25,500, which were credited to
Wages Payable.
Paid $22,300 cash for utilities, power, equipment maintenance,
and other miscellaneous items for the manufacturing plant....
Selected ledger accounts for Realm Company are given below for the just-completed year: Raw Materials Credits Bal. 1/1 Debits 45,000 495,000 Bal. 31/12 90,000 Manufacturing Overhead Debits 437,000 Credits Work in Process Credits 936, 100 Bal. 1/1 Direct materials Direct labour Overhead 92,500 350,000 140,000 455,000 Bal. 31/12 Factory Wages Payable Debits 216,500 Bal. 1/1 Credits 25,000 212,500 Bal. 31/12 21,000 Finished Goods 67,000 Credit Debits Bal. 31/12 175,000 Cost of Goods Sold Debits 1. What was the cost of...
Reimel Furniture Company, Inc. incurred the following costs
during 20x2.
Direct material used
$
172,000
Direct labor
320,000
Manufacturing overhead
160,000
During 20x2, products costing $120,000 were finished, and products
costing $132,000 were sold on account for $193,000. There were no
purchases of raw material during the year. The beginning balances
in the firm’s inventory accounts are as follows:
Raw material
$
226,000
Work in process
14,000
Finished goods
30,000
Exercise 3-31 Part 1
Required:
1. Prepare T-accounts to show...
Required information The following information applies to the questions displayed below Reimel Furniture Company, Inc. incurred the following costs during 20x2. Direct material used Direct labor Manufacturing overhead $173,000 320,000 160,000 During 20x2, products costing $122,000 were finished, and products costing $132,000 were sold on account for $197,000. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows: Raw material Work in process Finished goods $226,000 14,000 30,000 Required:...
Required information (The following information applies to the questions displayed below.] Reimel Furniture Company, Inc. incurred the following costs during 20x2. Direct material used Direct labor Manufacturing overhead $ 173,000 319,000 180,000 During 20x2, products costing $121,000 were finished, and products costing $132,000 were sold on account for $193,000. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows: Raw material Work in process Finished goods $ 225,000 16,000...
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