Homework Answers
Finished Goods completed and transferred is $838,000
The Journal entry to account for the cost of goods manufactured during October is.
Debit Finished goods Inventory $838.000.
Credit Work in process Inventory $838,000.
Add Answer to:
#7
Luker Corporation uses a process costing system. The company had $161,500 of beginning Finished Goods...
Luker Corporation uses a process costing system. The company had $162,500 of beginning Finished Goods Inventory...
Luker Corporation uses a process costing system. The company had $162,500 of beginning Finished Goods Inventory on October 1. Luker completed and transferred to finished goods a total of $839,000. The ending Finished Goods Inventory balance on October 31 was $160,200. The entry to account for the cost of goods manufactured during October is: Multiple Choice Debit Finished Goods Inventory $839,000; credit Work in Process Inventory $839,000. Debit Finished Goods Inventory $160,200; credit Cost of Goods Sold $160,200. Debit Cost...
11. Luker Corporation uses a process costing system. The company had $177,500 of beginning Finished Goods...
11. Luker Corporation uses a process costing system. The company had $177,500 of beginning Finished Goods Inventory on October 1. Luker completed and transferred to finished goods a total of $854,000. The ending Finished Goods Inventory balance on October 31 was $175,200. The entry to account for the cost of goods sold in October is: Debit Cost of Goods Sold $854,000; credit Finished Goods Inventory $854,000. Debit Cost of Goods Sold $856,300; credit Work in Process Inventory $856,300. Debit Finished...
Luker Corporation uses a process costing system. The company had $175,500 of beginning Finished Goods Inventory...
Luker Corporation uses a process costing system. The company had $175,500 of beginning Finished Goods Inventory on October 1. It transferred in $852,000 of units completed during the period. The ending Finished Goods Inventory balance on October 31 was $173,200 The entry to account for the cost of goods manufactured during October is Ο Debit Cost of Goods Sold $852,000; credit Finished Goods Inventory $852,000. Ο Debit Cost of Goods Sold $854,300, credit Work in Process Inventory $854,300. Ο Debit...
Exam 2 Help Save & Exit Submit Luker Corporation uses a process costing system. The company...
Exam 2 Help Save & Exit Submit Luker Corporation uses a process costing system. The company had $162,500 of beginning Finished Goods Inventory on October 1lt transferred in 5839,000 of units completed during the period. The ending Finished Goods Inventory balance on October 31 was $150.200. The entry to account for the cost of goods sold in October is (8 02:05 Multiple Choice o Debit Cost of Goods Sold $39.000, cred Fished Goods Invemory $339,000 o Debit Cost of Goods...
25. Narver Corporation uses the weighted-average method in its process costing system. Operating data for the...
25. Narver Corporation uses the weighted-average method in its
process costing system. Operating data for the Lubricating
Department for the month of October appear below:
What were the equivalent units for conversion costs in the
Lubricating Department for October?
Percent Complete with Respect to Conversion 60% Beginning work in process inventory... Transferred in from the prior department during October Completed and transferred to the next department during October..... Ending work in process inventory.. Units 6,600 40,100 37,100 9,600 80%
A company uses activity-based costing to determine the costs of its three products: A, B, and...
A company uses activity-based costing to determine the costs of its three products: A, B, and C. The budgeted cost and activity for each of the company's three activity cost pools are shown in the following table: Budgeted Activity Activity Cost Pool Budgeted Cost Product A Product B Product C Activity 1 $ 70,000 6,000 9,000 20,000 Activity 2 $ 45,000 7,000 15,000 8,000 Activity 3 $ 82,000 2,500 1,000 1,625 What are the activity rates for the three...
Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process...
Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 3,200 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $10,000. During the period, 9,200 units were completed and transferred on to the next department. The costs per equivalent unit for the period were...
Wyman Corporation uses a process costing system. The company manufactured certain goods at a cost of...
Wyman Corporation uses a process costing system. The company manufactured certain goods at a cost of $800 and sold them on credit to Percy Corporation for $1,075. The complete journal entry to be made by Wyman at the time of this sale is: Debit Accounts Receivable $1,075; credit Sales $1,075; debit Cost of Goods Sold $800; credit Finished Goods Inventory $800. Debit Accounts Receivable $1,075; credit Sales $275; credit Finished Goods Inventory $800. Debit Cost of Goods Sold $1,075; credit...
1. (2 points) Jason Corporation uses the weighted average method in its process costing system. The...
1. (2 points) Jason Corporation uses the weighted average method in its process costing system. The Assembly Department started the month with 10,000 units in its beginning work in process inventory that were 70% complete with respect to conversion costs. An additional 55,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. During the month 52,000 units were completed in the Assembly Department and transferred to the next processing department. There...
Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process...
Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 2,400 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $9,200. During the period, 8,400 units were completed and transferred on to the next department. The costs per equivalent unit for the period were...
11. Luker Corporation uses a process costing system. The company had $177,500 of beginning Finished Goods Inventory on October 1. Luker completed and transferred to finished goods a total of $854,000. The ending Finished Goods Inventory balance on October 31 was $175,200. The entry to account for the cost of goods sold in October is: Debit Cost of Goods Sold $854,000; credit Finished Goods Inventory $854,000. Debit Cost of Goods Sold $856,300; credit Work in Process Inventory $856,300. Debit Finished...
Luker Corporation uses a process costing system. The company had $175,500 of beginning Finished Goods Inventory on October 1. It transferred in $852,000 of units completed during the period. The ending Finished Goods Inventory balance on October 31 was $173,200 The entry to account for the cost of goods manufactured during October is Ο Debit Cost of Goods Sold $852,000; credit Finished Goods Inventory $852,000. Ο Debit Cost of Goods Sold $854,300, credit Work in Process Inventory $854,300. Ο Debit...
Exam 2 Help Save & Exit Submit Luker Corporation uses a process costing system. The company had $162,500 of beginning Finished Goods Inventory on October 1lt transferred in 5839,000 of units completed during the period. The ending Finished Goods Inventory balance on October 31 was $150.200. The entry to account for the cost of goods sold in October is (8 02:05 Multiple Choice o Debit Cost of Goods Sold $39.000, cred Fished Goods Invemory $339,000 o Debit Cost of Goods...
25. Narver Corporation uses the weighted-average method in its
process costing system. Operating data for the Lubricating
Department for the month of October appear below:
What were the equivalent units for conversion costs in the
Lubricating Department for October?
Percent Complete with Respect to Conversion 60% Beginning work in process inventory... Transferred in from the prior department during October Completed and transferred to the next department during October..... Ending work in process inventory.. Units 6,600 40,100 37,100 9,600 80%
Wyman Corporation uses a process costing system. The company manufactured certain goods at a cost of $800 and sold them on credit to Percy Corporation for $1,075. The complete journal entry to be made by Wyman at the time of this sale is: Debit Accounts Receivable $1,075; credit Sales $1,075; debit Cost of Goods Sold $800; credit Finished Goods Inventory $800. Debit Accounts Receivable $1,075; credit Sales $275; credit Finished Goods Inventory $800. Debit Cost of Goods Sold $1,075; credit...
1. (2 points) Jason Corporation uses the weighted average method in its process costing system. The Assembly Department started the month with 10,000 units in its beginning work in process inventory that were 70% complete with respect to conversion costs. An additional 55,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. During the month 52,000 units were completed in the Assembly Department and transferred to the next processing department. There...
Most questions answered within 3 hours.
-
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 32 minutes ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 1 hour ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 2 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 2 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 3 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 5 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 5 hours ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 5 hours ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 5 hours ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 5 hours ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 5 hours ago -
Given the information in the table, which of the following
statements is CORRECT?
Stock A
Stock...
asked 5 hours ago