Homework Answers
Answer : Merchandise inventory
as
All other options are the accounts used by manufacturing unit but merchandise inventory is not used in manufacturing unit
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Which of the following is not an example of an inventory account a manufacturing firm might...
5.) Which of the following is an example of a direct cost? A.) Raw materials applied...
5.) Which of the following is an example of a direct cost? A.) Raw materials applied to a house during construction. B.) Labor for the sales department, trying to specifically sale house 1. C.) Labor for the cleanup crew. D.) Materials in the warehouse that is divided into the different projects (i.e. house 1, house 2, etc.) 6.) Which of the following accounts represents the costs associated with goods that were completed and sold? A.) Cost of Goods Sold. B.)...
Alam Company is a manufacturing firm that uses job-order costing. At the beginning of the year,...
Alam Company is a manufacturing firm that uses job-order costing. At the beginning of the year, the company's inventory balances were as follows: Raw materials $ 24,300 Work in process $ 73,300 Finished goods $ 27,300 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 45,300 machine-hours and incur $181,200 in manufacturing overhead cost. The following transactions were recorded for the...
Alam Company is a manufacturing firm that uses job-order costing. At the beginning of the year,...
Alam Company is a manufacturing firm that uses job-order costing. At the beginning of the year, the company's inventory balances were as follows: Raw materials $ 24,300 Work in process $ 73,300 Finished goods $ 27,300 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 45,300 machine-hours and incur $181,200 in manufacturing overhead cost. The following transactions were recorded for the...
5. The first type of inventory account for a manufacturing company: a. Work in Process b....
5. The first type of inventory account for a manufacturing company: a. Work in Process b. Finished Goods c. Raw materials d. Cost of goods sold
Adelphia Manufacturing issued $80,000 of direct materials and $8,000 of indirect materials for production. Which of...
Adelphia Manufacturing issued $80,000 of direct materials and $8,000 of indirect materials for production. Which of the following journal entries would correctly record the transaction? 88,000 88.000 88,000 80,000 8,000 O A. Manufacturing Overhead Raw Materials Inventory O B . Raw Materials Inventory Finished Goods Inventory Work-in-Process Inventory C. Work-in - Process Inventory Raw Materials Inventory OD. Work-in - Process Inventory Manufacturing Overhead Raw Materials Inventory B.8.000 88.000 80,000 8.000 The cost of goods sold for Frye Manufacturing in the...
Babb Company is a manufacturing firm that uses job-order costing. The company's inventory balances were as...
Babb Company is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Beginning Balance Ending Balance Raw materials $ 11,100 $ 15,700 Work in process $ 32,200 $ 14,100 Finished goods $ 101,000 $ 120,000 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 17,700 machine-hours and incur...
Babb Company is a manufacturing firm that uses job-order costing. The company's inventory balances were as...
Babb Company is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Beginning Balance Ending Balance Raw materials $ 11,000 $ 15,400 Work in process $ 32,300 $ 14,000 Finished goods $ 102,000 $ 125,000 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 17,100 machine-hours and incur...
Completed but unsold units for a manufacturing firm would be included in which of the following...
Completed but unsold units for a manufacturing firm would be included in which of the following accounts Question 10 options: A) Finished Goods Inventory B) Pending Sale Inventory C) Work in Process Inventory D) Materials Inventory
adjust the manufacturing overhead account prepare the journal entry and post thr transactions to T-account Cedar...
adjust the manufacturing overhead account
prepare the journal entry and post thr transactions to
T-account
Cedar River Trikes manufactures three-wheeled bikes for adults. The company allocates manufacturing overhead based on machine hours. Cedar River expects to incur $250,000 of manufacturing overhead costs, and to use 10,000 machine hours during 2018. Cedar River reported the following inventory balances at May 31, 2018: Raw Materials Inventory $25,000 Work-in-Process Inventory $18,000 Finished Goods Inventory $43,000 During June, 2018, Cedar River actually used 1,100...
Work in Process Inventory $5,350 Manufacturing Overhead Incurred $32,100 Subsidiary data for Work in Process Inventory...
Work in Process Inventory $5,350 Manufacturing Overhead Incurred $32,100 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Direct materials $600 $700 Direct labor 300 500 Manufacturing overhead 375 625 $1.275 $1.825 Linton $900 600 750 $2.250 During June, raw materials purchased on account were $4,700, and all wages were paid. Additional overhead depreciation on equipment $1,000 and miscellaneous costs of $400 incurred on account. A summary...
5.) Which of the following is an example of a direct cost? A.) Raw materials applied to a house during construction. B.) Labor for the sales department, trying to specifically sale house 1. C.) Labor for the cleanup crew. D.) Materials in the warehouse that is divided into the different projects (i.e. house 1, house 2, etc.) 6.) Which of the following accounts represents the costs associated with goods that were completed and sold? A.) Cost of Goods Sold. B.)...
Adelphia Manufacturing issued $80,000 of direct materials and $8,000 of indirect materials for production. Which of the following journal entries would correctly record the transaction? 88,000 88.000 88,000 80,000 8,000 O A. Manufacturing Overhead Raw Materials Inventory O B . Raw Materials Inventory Finished Goods Inventory Work-in-Process Inventory C. Work-in - Process Inventory Raw Materials Inventory OD. Work-in - Process Inventory Manufacturing Overhead Raw Materials Inventory B.8.000 88.000 80,000 8.000 The cost of goods sold for Frye Manufacturing in the...
adjust the manufacturing overhead account
prepare the journal entry and post thr transactions to
T-account
Cedar River Trikes manufactures three-wheeled bikes for adults. The company allocates manufacturing overhead based on machine hours. Cedar River expects to incur $250,000 of manufacturing overhead costs, and to use 10,000 machine hours during 2018. Cedar River reported the following inventory balances at May 31, 2018: Raw Materials Inventory $25,000 Work-in-Process Inventory $18,000 Finished Goods Inventory $43,000 During June, 2018, Cedar River actually used 1,100...
Work in Process Inventory $5,350 Manufacturing Overhead Incurred $32,100 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Direct materials $600 $700 Direct labor 300 500 Manufacturing overhead 375 625 $1.275 $1.825 Linton $900 600 750 $2.250 During June, raw materials purchased on account were $4,700, and all wages were paid. Additional overhead depreciation on equipment $1,000 and miscellaneous costs of $400 incurred on account. A summary...
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