13. During October, Beidleman Inc. transferred $67,700 from Work in Process to Finished Goods and recorded...
13.
|
During October, Beidleman Inc. transferred $67,700 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $73,160. The journal entries to record these transactions would include a: |
Homework Answers
Add Answer to:
13.
During October, Beidleman Inc. transferred $67,700 from Work in
Process to Finished Goods and recorded...
During March, Zea Inc. transferred $59,000 from Work in Process to Finished Goods and recorded a...
During March, Zea Inc. transferred $59,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $65,000. The journal entries to record these transactions would include a: Multiple Choice credit to Cost of Goods Sold of $65,000. debit to Finished Goods of $65,000. credit to Work in Process of $59,000. credit to Finished Goods of $59,000.
During March, Zea Inc. transferred $52,000 from Work in Process to Finished Goods and recorded a...
During March, Zea Inc. transferred $52,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $58,000. The journal entries to record these transactions would include a: Multiple Choice debit to Finished Goods of $58,000. credit to Finished Goods of $52,000. O O credit to Work in Process of $52,000. credit to Cost of Goods Sold of $58,000. O
Finished Goods and Cost of Goods Sold Before the completed production for August is recorded, the...
Finished Goods and Cost of Goods Sold
Before the completed production for August is recorded, the work
in process inventory account for Bayfield Company appears as
follows:
Work in Process
Inventory
Balance August 1
$15,000
Direct material
33,000
Direct labor
20,000
Manufacturing overhead applied
20,000
Assume that completed production for August includes Jobs 317,
318, and 319 with total costs of $31,000, $18,000, and $22,000,
respectively.
QUESTION 10 Partially correct Mark 12.00 out of 19.00P Flag question Finished Goods and...
Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory...
Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 148,000 300,000 635,000 1,456,000 Ending Inventory $ 189,000 355,000 790,000 1,476,000 The following additional information describes the company's manufacturing activities for June: S 620,000 3, 465,000 178,000 $ 280,000 129,000 160,000 Raw materials purchases (on credit) Factory payroll coat (paid in cash) Other factory overhead coat (Other Accounts credited) Materials used Direct-Weaving Direct-Sewing Indirect Labor used Direct-Weaving Direct-Sewing Indirect Overhead rates as a...
13) When goods are transferred from the Work-in-Process Inventory account to the Finished Goods Inventory account,...
13) When goods are transferred from the Work-in-Process Inventory account to the Finished Goods Inventory account, A) total assets and total liabilities increase by the same amount B) total equity and total assets increase by the same amount C) total assets of the company remain constant D) total liabilities increase and total equity decreases by the same amount 15) Which of the following correctly describes Just-in-Time (JIT) Management? A) It is a production approach that maintains surplus goods at each...
13. What is the amount of conversion cost transferred to finished goods? (Round your intermediate calculations...
13. What is the amount of conversion cost transferred to finished goods? (Round your intermediate calculations to 2 places.) 14. Prepare the journal entry to record the transfer of costs from Work in Process to Finished Goods. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 15-a. What is the total cost to be accounted for? 15-b. What is the total cost accounted for? Clopack Company manufactures one product that goes...
Check my work The Polaris Company uses a job-order costing system. The following transactions occurred in...
Check my work The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $210,000. b. Raw materials used in production, $188,000 ($150,400 direct materials and $37,600 indirect materials). C. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate...
Process Cost Journal Entries: In October, the cost of materials transferred into the Rolling Department from...
Process Cost Journal Entries: In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is $522,200. The conversion cost for the period in the Rolling Department is $117,600 ($69,100 factory overhead applied and $48,500 direct labor). The total cost transferred to Finished Goods for the period was $550,000. The Rolling Department had a beginning inventory of $26,700. 1A) Journalize the cost of transferred-in materials. If an amount box does not require...
Process Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from...
Process Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is $3,000,000. The conversion cost for the period in the Rolling Department is $462,600 ($275,000 factory overhead applied and $187,600 direct labor). The total cost transferred to Finished Goods for the period was $3,392,400. The Rolling Department had a beginning inventory of $163,800. a1. Journalize the cost of transferred-in materials. If an amount box does not require...
Process Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from...
Process Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is $582,600. The conversion cost for the period in the Rolling Department is $103,800 ($63,000 factory overhead applied and $40,800 direct labor). The total cost transferred to Finished Goods for the period was $560,000. The Rolling Department had a beginning inventory of $24,900. al. Journalize the cost of transferred-in materials. If an amount box does not require...
During March, Zea Inc. transferred $52,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $58,000. The journal entries to record these transactions would include a: Multiple Choice debit to Finished Goods of $58,000. credit to Finished Goods of $52,000. O O credit to Work in Process of $52,000. credit to Cost of Goods Sold of $58,000. O
Finished Goods and Cost of Goods Sold
Before the completed production for August is recorded, the work
in process inventory account for Bayfield Company appears as
follows:
Work in Process
Inventory
Balance August 1
$15,000
Direct material
33,000
Direct labor
20,000
Manufacturing overhead applied
20,000
Assume that completed production for August includes Jobs 317,
318, and 319 with total costs of $31,000, $18,000, and $22,000,
respectively.
QUESTION 10 Partially correct Mark 12.00 out of 19.00P Flag question Finished Goods and...
Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 148,000 300,000 635,000 1,456,000 Ending Inventory $ 189,000 355,000 790,000 1,476,000 The following additional information describes the company's manufacturing activities for June: S 620,000 3, 465,000 178,000 $ 280,000 129,000 160,000 Raw materials purchases (on credit) Factory payroll coat (paid in cash) Other factory overhead coat (Other Accounts credited) Materials used Direct-Weaving Direct-Sewing Indirect Labor used Direct-Weaving Direct-Sewing Indirect Overhead rates as a...
13) When goods are transferred from the Work-in-Process Inventory account to the Finished Goods Inventory account, A) total assets and total liabilities increase by the same amount B) total equity and total assets increase by the same amount C) total assets of the company remain constant D) total liabilities increase and total equity decreases by the same amount 15) Which of the following correctly describes Just-in-Time (JIT) Management? A) It is a production approach that maintains surplus goods at each...
Check my work The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $210,000. b. Raw materials used in production, $188,000 ($150,400 direct materials and $37,600 indirect materials). C. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate...
Process Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is $582,600. The conversion cost for the period in the Rolling Department is $103,800 ($63,000 factory overhead applied and $40,800 direct labor). The total cost transferred to Finished Goods for the period was $560,000. The Rolling Department had a beginning inventory of $24,900. al. Journalize the cost of transferred-in materials. If an amount box does not require...
Most questions answered within 3 hours.
-
Employee training can
be defined as planned organizational efforts to help employees
learn job-related knowledge, skills,...
asked 29 minutes ago -
Which for loop is implemented correctly in Java?
Group of answer choices
for (i = 0...
asked 1 hour ago -
Required information
[The following information applies to the questions
displayed below.]
In 2019, Alliant Corporation acquired...
asked 1 hour ago -
How much must I invest today if I want to withdraw 1/3 of my
original investment...
asked 3 hours ago -
What is meant by a “term premium”?
What can explain such a premium? Is it a...
asked 5 hours ago -
23. Which molecule has only covalent bonds? A. CO2 B. Al2O3 C.
Mg3N2
24. The octet...
asked 5 hours ago -
the
total pressure for a mixture of N2O4 and NO2 is 2.20 atm. If Kp=
7.10...
asked 5 hours ago -
Delaware Corp. prepared a master budget that included $22,385
for direct materials, $28,600 for direct labor,...
asked 5 hours ago -
For pesticide HCB (hexachlorobenzene), its logarithmic partition
coefficient log Kow is 5.6. What would be the...
asked 5 hours ago -
A chemist requires 0.422 mil Na2CO3 for a reaction. How many
grams does this correspond to?
asked 5 hours ago -
If the vapor pressure of carvone is approximately 9.4 torr at 99
°C, approximately how much...
asked 6 hours ago -
A juice bottling company is carrying out a test at 10%
significance that the mean population...
asked 6 hours ago