Homework Answers
Answer:
| Factory overhead | |
| 200 | |
| Accumulated depreciation-baking | |
| 200 |
Entry:
| Event | Account title and explanation | Debit | Credit |
| a | factory overhead | $ 200 | |
| Accumulated depreciation-baking | $ 200 | ||
| [To record depreciation expense] |
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RUSH
Hawk Baking makes cookies. Depreciation charged on fixed assets: Baking Department, $200. Which entry should...
RUSH Hawk Baking makes cookies. Expiration of prepaid insurance for the Baking Department, $40. Which entry...
RUSH
Hawk Baking makes cookies. Expiration of prepaid insurance for the Baking Department, $40. Which entry should be made? Work in process - baking 40 Prepaid Insurance 40 Factory Overhead - baking 40 Accounts Payable 40 Prepaid Insurance 40 Cash 40 0 Factory overhead - baking 40 Prepaid Insurance 40
RUSH Hawk Baking makes cookies. The cookies are transferred from the Baking to the Packing Department...
RUSH
Hawk Baking makes cookies. The cookies are transferred from the Baking to the Packing Department where packing is done to complete the production process. Output of Baking Department: 180 cases of cookies costing $500. Which entry should be made? Work in process - packing 500 Work in process - baking 500 0 Finished goods 500 Work in process - baking 500 O Factory overhead - baking 500 Work in process - baking 500 Cost of goods sold 500 Work...
RUSH Hawk Baking makes cookies. Materials requisitioned for use are: Baking Department Direct materials $10,000 Indirect...
RUSH
Hawk Baking makes cookies. Materials requisitioned for use are: Baking Department Direct materials $10,000 Indirect materials $1,000 The entry that should be made in a T-account general ledger is 0 Materials inventory 11,000 Work in process - baking 1,000 Factory overhead - baking 10,000 Materials inventory 11,000 Work in process - baking 10,000 Factory overhead - baking 1,000 Materials inventory 11,000 Work in process - baking 11,000 Materials inventory 11,000 Factory overhead - baking 11,000
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AccuBlade Castings Inc. casts blades for turbine engines. Within the Casting Department, alloy is first melted in a crucible, then poured into molds to produce the castings. On May 1, there were 230 pounds of alloy in process, which were 60% complete as to conversion. The Work in Process balance for these 230 pounds was $32,844, determined as follows: Direct Materials (230x$132) 30,360.00 Conversion (230x60%x$18) 2,484.00 $32,844.00 During May, the Casting Department was charged $350,000 for 2,500 pounds of...
Entries for Process Cost System Preston & Grover Soap Company manufactures powdered detergent. Phosphate is placed...
Entries for Process Cost System Preston & Grover Soap Company manufactures powdered detergent. Phosphate is placed in process in the Making Department, where it is turned into granders. The output of Making is transferred to the Packing Department, where packaging is added at the beginning of the process. On July 1, Preston & Grover Soap Company had the following inventories: Finished Goods $11.930 Work in Process-Making 4,640 Work in Process-Packing 6,040 Materials 2,620 Departmental accounts are maintained for factory overhead,...
Fixed overhead costs for March for a factory were Salaries of $32.000, depreciation of $14,000, and...
Fixed overhead costs for March for a factory were Salaries of $32.000, depreciation of $14,000, and property taxes of $3,000. Which of the jounal entries would be correct? $14,000 $32,000 $3,000 O A. Depreciation Expense Salaries Expense Fxed Overhead Control $14,000 $32,000 $3,000 Cash Accounts Payable $49,000 O B. Flxed Overhead Control $3,000 32,000 $14,000 Accounts Payable Salares Payable Accumuliated Depreciation $49,000 O C. Work-in-Process $3,000 $32,000 14,000 Accounts Payable Salares Payable Accumulated Depreciation 49,000 O D. Fixed Overhead Control...
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Entries for Process Cost System Preston & Grover Soap Company manufactures powdered detergent. Phosphate is placed...
Entries for Process Cost System Preston & Grover Soap Company manufactures powdered detergent. Phosphate is placed in process in the Making Department, where it is turned into granulars. The output of Making is transferred to the Packing Department, where packaging is added at the beginning of the process. On July 1, Preston & Grover Soap Company had the following inventories: Finished Goods $15,870 Work in Process—Making 6,170 Work in Process—Packing 8,040 Materials 3,480 Departmental accounts are maintained for factory overhead,...
Entries for Process Cost System Preston & Grover Soap Company manufactures powdered detergent. Phosphate is placed...
Entries for Process Cost System Preston & Grover Soap Company manufactures powdered detergent. Phosphate is placed in process in the Making Department, where it is turned into granulars. The output of Making is transferred to the Packing Department, where packaging is added at the beginning of the process. On July 1, Preston & Grover Soap Company had the following inventories: Finished Goods $7,750 Work in Process—Making 3,010 Work in Process—Packing 3,920 Materials 1,700 Departmental accounts are maintained for factory overhead,...
RUSH
Hawk Baking makes cookies. Expiration of prepaid insurance for the Baking Department, $40. Which entry should be made? Work in process - baking 40 Prepaid Insurance 40 Factory Overhead - baking 40 Accounts Payable 40 Prepaid Insurance 40 Cash 40 0 Factory overhead - baking 40 Prepaid Insurance 40
RUSH
Hawk Baking makes cookies. The cookies are transferred from the Baking to the Packing Department where packing is done to complete the production process. Output of Baking Department: 180 cases of cookies costing $500. Which entry should be made? Work in process - packing 500 Work in process - baking 500 0 Finished goods 500 Work in process - baking 500 O Factory overhead - baking 500 Work in process - baking 500 Cost of goods sold 500 Work...
RUSH
Hawk Baking makes cookies. Materials requisitioned for use are: Baking Department Direct materials $10,000 Indirect materials $1,000 The entry that should be made in a T-account general ledger is 0 Materials inventory 11,000 Work in process - baking 1,000 Factory overhead - baking 10,000 Materials inventory 11,000 Work in process - baking 10,000 Factory overhead - baking 1,000 Materials inventory 11,000 Work in process - baking 11,000 Materials inventory 11,000 Factory overhead - baking 11,000
Entries for Process Cost System Preston & Grover Soap Company manufactures powdered detergent. Phosphate is placed in process in the Making Department, where it is turned into granders. The output of Making is transferred to the Packing Department, where packaging is added at the beginning of the process. On July 1, Preston & Grover Soap Company had the following inventories: Finished Goods $11.930 Work in Process-Making 4,640 Work in Process-Packing 6,040 Materials 2,620 Departmental accounts are maintained for factory overhead,...
Fixed overhead costs for March for a factory were Salaries of $32.000, depreciation of $14,000, and property taxes of $3,000. Which of the jounal entries would be correct? $14,000 $32,000 $3,000 O A. Depreciation Expense Salaries Expense Fxed Overhead Control $14,000 $32,000 $3,000 Cash Accounts Payable $49,000 O B. Flxed Overhead Control $3,000 32,000 $14,000 Accounts Payable Salares Payable Accumuliated Depreciation $49,000 O C. Work-in-Process $3,000 $32,000 14,000 Accounts Payable Salares Payable Accumulated Depreciation 49,000 O D. Fixed Overhead Control...
CHART OF ACCOUNTS Port Ormond Carpet Company General Ledger ASSETS REVENUE 110 Cash 410 Sales 121 Accounts Receivable 610 Interest Revenue 125 Notes Receivable 126 Interest Receivable 131 Materials 141 Work in Process-Spinning Department 142 Work in Process-Tufting Department 151 Factory Overhead-Spinning Department 152 Factory Overhead-Tufting Department EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Supplies Expense 540 Administrative Expenses 561 Depreciation Expense-Factory 590 Miscellaneous Expense 710 Interest Expense...
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