Homework Answers
| Part-1 |
| Cost trf from Mixing Deptt to Cooking Deptt:- $548500 |
| Cost trf from Cooking Deptt to Packaging Deptt:- $814650 |
| Part-2 | ||
| Journal Entry | ||
| AccountTittle | Debit | Credit |
| WIP Cooking Department | $548,500.00 | |
| WIP Mixing Department | $548,500.00 | |
| WIP Packaging Department | $814,650.00 | |
| WIP Cooking Department | $814,650.00 | |
| Finished Goods | $1,183,950.00 | |
| WIP Packaging Department | $1,183,950.00 | |
Working Note
| Computation of Cost Transferred Out of Each Department | |||
| Mixing Department | Cooking Department | Packaging Department | |
| Direct Material | $413,000 | $187,900 | $164,800 |
| Direct Labour | $60,600 | $37,500 | $89,500 |
| Applied OH | $74,900 | $40,750 | $115,000 |
| Cost trf to/ From Mixing Department | -$548,500 | $548,500 | |
| Cost trf to/ From Cooking Department | -$814,650 | $814,650 | |
| Total | $0 | $0 | $1,183,950 |
Add Answer to:
Basic Cost Flows Instructions Chart of Accounts Tra Instructions Gardner Company produces 1-ounce boxes of a...
Gardner Company produces 18-ounce boxes of a wheat cereal in three departments: mixing, cooking, and packaging....
Gardner Company produces 18-ounce boxes of a wheat cereal in three departments: mixing, cooking, and packaging. During August, Gardner produced 100,000 boxes with the following costs: Mixing Cooking Packaging Department Department Department Direct materials $412,200 $186,600 $165,800 Direct labor 60,200 38,400 90,300 Applied overhead 74,000 40,500 115,750 Required: 1. Calculate the costs transferred out of each department. 2. Prepare journal entries that reflect these cost transfers. CHART OF ACCOUNTS Gardner Company General Ledger ASSETS 110 Cash 120 Accounts Receivable 130...
Pleni Company produces 18-ounce boxes of a wheat cereal in three departments: Mixing, Cooking, and Packaging....
Pleni Company produces 18-ounce boxes of a wheat cereal in three departments: Mixing, Cooking, and Packaging. During August, Pleni produced 150,000 boxes with the following costs Mixing Department $411,700 59,900 Cooking Department $187,100 38,000 Packaging Department $165,500 Direct materials Direct labor 91,000 Applied overhead 75,400 40,500 116,500 Required: 1. Calculate the costs transferred out of each department. 2. Prepare journal entries that reflect these cost transfers. CHART OF ACCOUNTS Pleni Company General Ledger ASSETS REVENUE 410 Sales EXPENSES 110 Cash...
Appendix 4A) Journal Entries, T-Accounts structions Chart of Accounts Amount Descriptions Instructions Lowder Inc. builds custom...
Appendix 4A) Journal Entries, T-Accounts structions Chart of Accounts Amount Descriptions Instructions Lowder Inc. builds custom conveyor systems for warehouses and distribution centers. During the month of July, the following occurred Ju 2 28 Purchased materials on account for $42.630 Requisitioned materials totaling $27.000 for use in production: $12.500 for Job 703 and the remainder for Job 704 Recorded direct labor payroll for the month of $26,320 with an average wage of 14 per hour, Job 703 required 780 direct...
Pleni Company produces 18-ounce boxes of a wheat cereal in three departments: Mixing, Cooking, and Packaging....
Pleni Company produces 18-ounce boxes of a wheat cereal in three departments: Mixing, Cooking, and Packaging. During August, Pleni produced 125,000 boxes with the following costs: Mixing Department $412,500 60,000 75,000 Direct materials Direct labor Applied overhead Cooking Department $187,500 37,500 41,250 Packaging Department $165,000 90,000 116,250 Required: 1. Calculate the costs transferred out of each department. 2. Prepare journal entries that reflect these cost transfers. CHART OF ACCOUNTS Pleni Company General Ledger ASSETS REVENUE 410 Sales 110 Cash 120...
eBook Calculator (Appendix 4A) Journal Entries, T-Accounts Instructions Chart of Accounts Amount Descriptions Jouma I Job-Order...
eBook Calculator (Appendix 4A) Journal Entries, T-Accounts Instructions Chart of Accounts Amount Descriptions Jouma I Job-Order Cost Sheets Instructions Lowder Inc, builds custom conveyor systems for warehouses and distribution centers. During the month of July, the following occurred: Jul 1 2 Purchased materials on account for $42,630. Requisitioned materials totaling $27,000 for use in production: $12.500 for Job 703 and the remainder for Job 704. 28 Recorded direct labor payroll for the month of $26,320 with an average wage of...
Equivalent units and related costs; cost of production report; entries Instructions Chart of Accounts Cost of...
Equivalent units and related costs; cost of production report; entries Instructions Chart of Accounts Cost of Production Report Journal Final Questions Instructions White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Miling Department, the materials pass through the Sitting and Packaging departments, emerging as packaged refined flour The balance in the account Work in Process-Sifting Department was as follows on July 1 Work in Process...
Instructions Chart of Accounts Cost of Production Report Journal Instructions White Diamond Flour Company manufactures flour...
Instructions Chart of Accounts Cost of Production Report Journal Instructions White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Milling Department, the materials pass through the Sifting and Packaging departments, emerging as packaged refined flour. The balance in the account Work in Process-Sifting Department was as follows on July 1: Work in Process-Sifting Department (700 units, 3/5 completed): Direct materials (700 * $2,35) $1,645 Conversion...
Calculator Trial Balance The accounts in the ledger of Hickory Furniture Company as of December 31,...
Calculator Trial Balance The accounts in the ledger of Hickory Furniture Company as of December 31, 2019, are listed in phabetical orders follows. All accounts have normal balances. The balance of the cash account has been intentionally omitted. $42,770 116,900 ? 75,000 24,000 745,230 3,600 Accounts Payable Accounts Receivable Cash Elaine Wells, Capital Elaine Wells, Drawing Fees Earned Insurance Expense Land Miscellanepus Expense Notes Payable Prepaid Insurance Rent Expense Supplies Supplies Expense Unearned Rent Utilities Expense Wages Expense 50,000 9,500...
eBook Calculator Problem 11-56A (Algorithmic) Preparing a statement of Cash Flows Monon Cable Television Company reported...
eBook Calculator Problem 11-56A (Algorithmic) Preparing a statement of Cash Flows Monon Cable Television Company reported the following financial statements for 2019: Monon Cable Television Company Income Statement For the year ended December 31, 2019 Sales $519,000 Less operating expenses: Royalties expense Salaries expense $240,000 26,000 83,000 Utilities expense Supplies expense 13,000 Rent expense 79,000 Depreciation expense 28,000 469,000 Income from operations $50,000 Other income (expenses) Gain on disposal of property, plant and equipment $800 Interest expense (1,800) (1,000) Income...
resource from Cengage Learning eBook Calculator Print Item Normal Entries for Accounts During the month, Midwest...
resource from Cengage Learning eBook Calculator Print Item Normal Entries for Accounts During the month, Midwest Labs Co. has a substantial number of transactions affecting each of the following accounts. State for each account whether it is likely to have debit entries only, credit entries only, or both debit and credit entries. 1. Accounts Payable 2. Accounts Receivable 3. Cash 4. Fees Earned 5. Insurance Expense 6. Jerri Holt, Drawing 7. Utilities Expense Previous Next Check My Work 3 more...
Pleni Company produces 18-ounce boxes of a wheat cereal in three departments: Mixing, Cooking, and Packaging. During August, Pleni produced 150,000 boxes with the following costs Mixing Department $411,700 59,900 Cooking Department $187,100 38,000 Packaging Department $165,500 Direct materials Direct labor 91,000 Applied overhead 75,400 40,500 116,500 Required: 1. Calculate the costs transferred out of each department. 2. Prepare journal entries that reflect these cost transfers. CHART OF ACCOUNTS Pleni Company General Ledger ASSETS REVENUE 410 Sales EXPENSES 110 Cash...
Appendix 4A) Journal Entries, T-Accounts structions Chart of Accounts Amount Descriptions Instructions Lowder Inc. builds custom conveyor systems for warehouses and distribution centers. During the month of July, the following occurred Ju 2 28 Purchased materials on account for $42.630 Requisitioned materials totaling $27.000 for use in production: $12.500 for Job 703 and the remainder for Job 704 Recorded direct labor payroll for the month of $26,320 with an average wage of 14 per hour, Job 703 required 780 direct...
Pleni Company produces 18-ounce boxes of a wheat cereal in three departments: Mixing, Cooking, and Packaging. During August, Pleni produced 125,000 boxes with the following costs: Mixing Department $412,500 60,000 75,000 Direct materials Direct labor Applied overhead Cooking Department $187,500 37,500 41,250 Packaging Department $165,000 90,000 116,250 Required: 1. Calculate the costs transferred out of each department. 2. Prepare journal entries that reflect these cost transfers. CHART OF ACCOUNTS Pleni Company General Ledger ASSETS REVENUE 410 Sales 110 Cash 120...
eBook Calculator (Appendix 4A) Journal Entries, T-Accounts Instructions Chart of Accounts Amount Descriptions Jouma I Job-Order Cost Sheets Instructions Lowder Inc, builds custom conveyor systems for warehouses and distribution centers. During the month of July, the following occurred: Jul 1 2 Purchased materials on account for $42,630. Requisitioned materials totaling $27,000 for use in production: $12.500 for Job 703 and the remainder for Job 704. 28 Recorded direct labor payroll for the month of $26,320 with an average wage of...
Equivalent units and related costs; cost of production report; entries Instructions Chart of Accounts Cost of Production Report Journal Final Questions Instructions White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Miling Department, the materials pass through the Sitting and Packaging departments, emerging as packaged refined flour The balance in the account Work in Process-Sifting Department was as follows on July 1 Work in Process...
Instructions Chart of Accounts Cost of Production Report Journal Instructions White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Milling Department, the materials pass through the Sifting and Packaging departments, emerging as packaged refined flour. The balance in the account Work in Process-Sifting Department was as follows on July 1: Work in Process-Sifting Department (700 units, 3/5 completed): Direct materials (700 * $2,35) $1,645 Conversion...
Calculator Trial Balance The accounts in the ledger of Hickory Furniture Company as of December 31, 2019, are listed in phabetical orders follows. All accounts have normal balances. The balance of the cash account has been intentionally omitted. $42,770 116,900 ? 75,000 24,000 745,230 3,600 Accounts Payable Accounts Receivable Cash Elaine Wells, Capital Elaine Wells, Drawing Fees Earned Insurance Expense Land Miscellanepus Expense Notes Payable Prepaid Insurance Rent Expense Supplies Supplies Expense Unearned Rent Utilities Expense Wages Expense 50,000 9,500...
eBook Calculator Problem 11-56A (Algorithmic) Preparing a statement of Cash Flows Monon Cable Television Company reported the following financial statements for 2019: Monon Cable Television Company Income Statement For the year ended December 31, 2019 Sales $519,000 Less operating expenses: Royalties expense Salaries expense $240,000 26,000 83,000 Utilities expense Supplies expense 13,000 Rent expense 79,000 Depreciation expense 28,000 469,000 Income from operations $50,000 Other income (expenses) Gain on disposal of property, plant and equipment $800 Interest expense (1,800) (1,000) Income...
resource from Cengage Learning eBook Calculator Print Item Normal Entries for Accounts During the month, Midwest Labs Co. has a substantial number of transactions affecting each of the following accounts. State for each account whether it is likely to have debit entries only, credit entries only, or both debit and credit entries. 1. Accounts Payable 2. Accounts Receivable 3. Cash 4. Fees Earned 5. Insurance Expense 6. Jerri Holt, Drawing 7. Utilities Expense Previous Next Check My Work 3 more...
Most questions answered within 3 hours.
-
Given P(Ec ) = 0.43, P(F) = 0.52, and P(EF) = 0.18.
Find P( E |...
asked 2 minutes from now -
Consider two empty containers A and B whose volumes are
10mL and 20mL respectively. 1mL of...
asked 27 seconds ago -
Which of the following will most likely to happen if Federal
Reserve Bank decreases the money...
asked 1 minute ago -
Vaughn Manufacturing acquires a coal mine at a cost of $1870000.
Intangible development costs total $354000....
asked 3 minutes ago -
Question 5
What effect would a decrease in
temperature have on pressure, assuming that volume
(T)...
asked 16 minutes ago -
QUESTION 6
Determine the linear momentum of a 2,800 kg houseboat going 3
m/s.
9,100 kg.m/s...
asked 14 minutes ago -
Draw the Lewis dot structures for the following molecules. None
of the atoms have a formal...
asked 20 minutes ago -
Jor-el throws a ball upward from the top of a 728 foot building
on the planet...
asked 18 minutes ago -
What does it mean when an element is radioactive?
a.
It means the element is changing...
asked 21 minutes ago -
A company deposits $6,000 in a bank at the end of every year for
10 years....
asked 20 minutes ago -
What are some strategies for eliminating service barriers?
By using your knowledge of
behavioral styles, please...
asked 28 minutes ago -
What are the decimal numbers for 159, 150, 200, 113, 225, 87,
106, 81 when converted...
asked 37 minutes ago