Homework Answers
Journal entry
| Date | accounts | Debit | Credit |
| a | Work in process inventory (11000*70%) | 7700 | |
| Manufacturing overhead | 3300 | ||
| Wages payable | 11000 | ||
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Polo T117-2 (similar to) Record the following joumal entries for Young Company: (Click the icon to...
3T117-2 (similar to) Record the following Journal entries for Baker Company: Click the icon to view...
3T117-2 (similar to) Record the following Journal entries for Baker Company: Click the icon to view the transactions.) (Record debits frul, then credits. Exclude explanations from any journal entries.) 6. Purchased raw materials on account, $14.000 Accounts Debit Credit Raw Materials Inventory Accounts Payable 14,000 14.000 7. Used $6.000 in direct materials and $800 in indirect materials in production Accounts 7. Credit Work in Process Inventory Manufacturing Overhead Raw Materials inventory Debit 6.000 800 6,800 hour $13.000 in labor costs,...
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...
Came Company makes artificial flowers and reports the following data for the month Click the icon...
Came Company makes artificial flowers and reports the following data for the month Click the icon to view the data) Journalce the enties relating to materials and labor (Record debits first then credits Exclude explanations from journal entries.) Begin by pumasing the entry for the purchase of materials on account Accounts Debit Credit í Data Table Next jumalize the entry to record raw materials used in production Date Accounts Debit Credit $ 51.000 Purchases of materials on account Materials requisitions...
Journalize the following transactions for Judy's Sofas. Explanations are not required (Click the icon to view...
Journalize the following transactions for Judy's Sofas. Explanations are not required (Click the icon to view the transactions.) Record debits first, then credits. Exclude explanations from any journal entries.) a. Incurred and paid Web site expenses, $2,300 Date Debit Credit iMore Info b. Incurred manufacturing wages of $10,000, 60% of which was direct labor and 40% of which was indirect labor a. Incurred and paid Web site expenses, $2.300 b. Incurred manufacturing wages of $10,000, 60% of which was direct...
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...
Prepare summary Journal entries to record the following transactions for a company in its first month...
Prepare summary Journal entries to record the following transactions for a company in its first month of operations 00:52:15 a. Raw materials purchased on account, $80,000. b. Direct materials used in production, $37.000. Indirect materials used in production, $12,000 c. Pald cash for factory payroll, $35.000. Or this total, $25,000 is for direct labor and $10,000 is for indirect labor d. Pald cash for other actual overhead costs, $7.000. e. Applied overhead at the rate of 120% of direct labor...
Journalize the following transactions for Lake's Seats. Explanations are not required. (Click the icon to view...
Journalize the following transactions for Lake's Seats. Explanations are not required. (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from any journal entries.) e. Recorded manufacturing overhead: depreciation on plant, $12,000; plant insurance (previously paid), $1,300; plant property tax, $3,400 (credit Property Tax Payable). (Prepare a compound entry.) Date Accounts Debit Credit i More Info f. Allocated manufacturing overhead to jobs, 210% of direct labor costs. Date Accounts Debit Credit a. Incurred and paid...
Journalize the following transactions for Blanche's Benches. Explanations are not required. (Click the icon to view...
Journalize the following transactions for Blanche's Benches. Explanations are not required. (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from any journal entries.) a. Incurred and paid Web site expenses, $2,300. Date Accounts Debit a. 2.300 Cash Website Expenses b. Incurred manufacturing wages of $20.000. 70% of which was direct labor and 30% of which was in Date Accounts Debit b. Work-in-Process Inventory Choose from any list or enter any number in the input...
Journalize the following transactions for Sleek's Furniture. Explanations are not required. (Click the icon to view...
Journalize the following transactions for Sleek's Furniture. Explanations are not required. (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from any journal entries.) a. Incurred and paid Web site expenses, $2,100. b. Incurred manufacturing wages of $14,000, 65% of which was direct labor and 35% of which was indirect labor. c. Purchased raw materials on account, $20,000. d. Used in production: direct materials, $8,000; indirect materials, $2,500. e. Recorded manufacturing overhead: depreciation on plant,...
Lott company uses a Problem 2-1A (Video) Lott Company uses a job order cost system and...
Lott company uses a
Problem 2-1A (Video) Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $22,000, direct labor $13,200, and manufacturing overhead $17,600. As of January 1, Job 49 had been completed at a cost of $99,000 and was part of...
3T117-2 (similar to) Record the following Journal entries for Baker Company: Click the icon to view the transactions.) (Record debits frul, then credits. Exclude explanations from any journal entries.) 6. Purchased raw materials on account, $14.000 Accounts Debit Credit Raw Materials Inventory Accounts Payable 14,000 14.000 7. Used $6.000 in direct materials and $800 in indirect materials in production Accounts 7. Credit Work in Process Inventory Manufacturing Overhead Raw Materials inventory Debit 6.000 800 6,800 hour $13.000 in labor costs,...
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...
Came Company makes artificial flowers and reports the following data for the month Click the icon to view the data) Journalce the enties relating to materials and labor (Record debits first then credits Exclude explanations from journal entries.) Begin by pumasing the entry for the purchase of materials on account Accounts Debit Credit í Data Table Next jumalize the entry to record raw materials used in production Date Accounts Debit Credit $ 51.000 Purchases of materials on account Materials requisitions...
Journalize the following transactions for Judy's Sofas. Explanations are not required (Click the icon to view the transactions.) Record debits first, then credits. Exclude explanations from any journal entries.) a. Incurred and paid Web site expenses, $2,300 Date Debit Credit iMore Info b. Incurred manufacturing wages of $10,000, 60% of which was direct labor and 40% of which was indirect labor a. Incurred and paid Web site expenses, $2.300 b. Incurred manufacturing wages of $10,000, 60% of which was direct...
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...
Prepare summary Journal entries to record the following transactions for a company in its first month of operations 00:52:15 a. Raw materials purchased on account, $80,000. b. Direct materials used in production, $37.000. Indirect materials used in production, $12,000 c. Pald cash for factory payroll, $35.000. Or this total, $25,000 is for direct labor and $10,000 is for indirect labor d. Pald cash for other actual overhead costs, $7.000. e. Applied overhead at the rate of 120% of direct labor...
Journalize the following transactions for Lake's Seats. Explanations are not required. (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from any journal entries.) e. Recorded manufacturing overhead: depreciation on plant, $12,000; plant insurance (previously paid), $1,300; plant property tax, $3,400 (credit Property Tax Payable). (Prepare a compound entry.) Date Accounts Debit Credit i More Info f. Allocated manufacturing overhead to jobs, 210% of direct labor costs. Date Accounts Debit Credit a. Incurred and paid...
Journalize the following transactions for Blanche's Benches. Explanations are not required. (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from any journal entries.) a. Incurred and paid Web site expenses, $2,300. Date Accounts Debit a. 2.300 Cash Website Expenses b. Incurred manufacturing wages of $20.000. 70% of which was direct labor and 30% of which was in Date Accounts Debit b. Work-in-Process Inventory Choose from any list or enter any number in the input...
Journalize the following transactions for Sleek's Furniture. Explanations are not required. (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from any journal entries.) a. Incurred and paid Web site expenses, $2,100. b. Incurred manufacturing wages of $14,000, 65% of which was direct labor and 35% of which was indirect labor. c. Purchased raw materials on account, $20,000. d. Used in production: direct materials, $8,000; indirect materials, $2,500. e. Recorded manufacturing overhead: depreciation on plant,...
Lott company uses a
Problem 2-1A (Video) Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $22,000, direct labor $13,200, and manufacturing overhead $17,600. As of January 1, Job 49 had been completed at a cost of $99,000 and was part of...
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