Required: Prepare journal entries dated June 30 to record the following production activities during June for...
Required information Problem 20-1A Production cost flow and measurement; journal entries LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Beginning Inventory Ending Inventory Work in process inventory—Cutting 43,500 51,500 Work in process inventory—Stitching 63,300 60,500 Finished goods inventory 20,100 8,250 The...
Required information Problem 16-1A Production cost flow and measurement; journal entries LO P1, P2, P3, P4 The following information applies to the questions displayed below.) Sierra Company manufactures woven blankets and accounts for product costs using process costing. Data below are for one of its processing departments. The following information is available regarding its May inventories Raw materials inventory Work in process inventory Finished goods inventory Beginning Ending Inventory Inventory $ 61,000 $68,000 405,500 577,000 630,000 562,000 The following additional...
Problem 16-1A Production cost flow and measurement; journal entries LO P1, P2, P3, P4 [The following information applies to the questions displayed below) Sierra Company manufactures woven blankets and accounts for product costs using process costing. Data below are for one of its processing departments. The following information is available regarding its May Inventories. Beginning Ending Inventory Inventory Raw materials inventory $ 60,000 $ 92,500 Work in process inventory 435,000 515,000 Finished goods inventory 633, 080 605,000 The following additional...
Required information Problem 03-1A Production cost flow and measurement; journal entries LO P1, P2, P3, P4 (The following information applies to the questions displayed below.) Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Work in process inventory-Cutting Work in process inventory Stitching Finished goods inventory Beginning Ending Inventory Inventory 143,500 110,500 163,300 91,500 40,100 28,250...
Need All 11 Journal Entries Sierra Company manufactures woven blankets and accounts for product costs using process costing. Data below are for one of its processing departments. The following information is available regarding its May inventories Beginning Ending Inventory Inventory $ 65,000 73,500 517,000 505,000 Raw materials inventory Work in process inventory Finished goods inventory 445,500 633,000 The following additional information describes the company's production activities for May Raw materials purchases (on credit) Factory wages cost (paid in cash) Other...
Problem 03-1A Production cost flow and measurement; journal entries LO P1, P2, P3, P4 (The following information applies to the questions displayed below.) Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Ending Inventory Inventory 213,500 145,500 233,300 113,200 54,100 42,250 The following additional...
1. Prepare entries dated June 30 to record: (a) raw materials purchases, (b) direct materials usage(c) Indirect materials usage d) direct labor usage, ) labor usageoverhead costs, () overhead applied, and () payment of total payroll costs. Required information [The following information applies to the questions displayed below.) Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories: Raw materials inventory Work in process inventory-Weaving...
Required information (The following information applies to the questions displayed below) Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following Information is available regarding its June inventories: Beginning Ending Inventory Inventory Raw materials inventory $ 198,000 $ 221,000 Work in process inventory-Weaving 340,000 415,000 Work in process inventory-Sewing 600,000 750,000 Finished goods inventory 1,296,000 1,496,000 The following additional information describes the company's manufacturing activities for June: $ 560,000 3,660,000 212,000 Raw...
Required information [The following information applies to the questions displayed below.) Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories: Raw materials inventory Work in process inventory-leaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 120, eee 300,000 570,000 1,266, eee Ending Inventory $ 185, eee 330, eee 700, eee 1,206, eee The following additional information describes the company's manufacturing activities for...
2. Prepare journal entries for the month of April to record the above transactions Need helf with f2,f3,f4 (The following information applies to the questions displayed below.) Marcelino Co's March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $22,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is...