Homework Answers
| Accounts Title and Explanation | Debit ($) | Credit ($) |
| Finished Goods Inventory | 335000 | |
| To Work in Process Inventory (shaping) | 335000 | |
| (To transfer to finished goods inventory) |
|
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Hotwax completed products costing $335,000 and transferred them to finished goods. Prepare its journal entry to...
Hotwax makes surfboard wax in two sequential processes. This period, Hotwax purchased $65,000 in raw materials....
Hotwax makes surfboard wax in two sequential processes. This period, Hotwax purchased $65,000 in raw materials. Its mixing department requisitioned $61,500 of those materials for use in production Prepare journal entries to record its purchase of raw materials and requisition of direct materials. View transaction list Journal entry worksheet < 1 2 Record purchase of raw materials inventory on account. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal Hotwax makes...
Prepare journal entries to record the following production activities for Hotwax 1. Incurred $100,000 of direct...
Prepare journal entries to record the following production activities for Hotwax 1. Incurred $100,000 of direct labor in its Mixing department and $90,000 of direct labor in its Shaping department (credit Factory Wages Payable) 2. Incurred indirect labor of $13,500 (credit Factory Wages Payable). 3. Total factory payroll of $203,500 was paid in cash View transaction list Journal entry worksheet 1 2 3 > Record direct labor used, but not yet pald. Note: Enter debits before credits Transaction General Journal...
Assembly to be assembled and painted. From Assembly, the chairs are transferred to Finished Goods Inventory...
Assembly to be assembled and painted. From Assembly, the chairs are transferred to Finished Goods Inventory and then are sold Mesa has compiled the following information for the month of February Direct materials Direct labor Applied manufacturing overhead Cost of goods completed and transferred out 77,000$ 74,000 58000 227,000 $ 17,000 9,000 167,000 272,000 Required: 1,2,3, & 4 Prepare journal entries for the transactions in the Cutting and Assembly Departments of Mesa Company, (If no entry is required for a...
Chapter 16 Homework Saved 4 Prepare journal entries to record the following production activities for Hotwax....
Chapter 16 Homework Saved 4 Prepare journal entries to record the following production activities for Hotwax. 15 points 1. Requisitioned $14,500 of indirect materials for use in production of surfboard wax. 2. Incurred $184,000 overhead costs (credit Other accounts). 3. Applied overhead at the rate of 140% of direct labor costs. Direct labor costs were $145,000 in the Mixing department and $95,000 in the Shaping department.. Book View transaction ist References Journal entry worksheet Requisitioned $14,500 of indirect materials for...
Prepare journal entries to record the following production activities for Hotwax. 1. Incurred $85,000 of direct...
Prepare journal entries to record the following production activities for Hotwax. 1. Incurred $85,000 of direct labor in its Mixing department and $85,000 of direct labor in its Shaping department (credit Factory Wages Payable) 2. incurred indirect labor of $20,500 (credit Factory Wages Payable) 3. Total factory payroll of $190,500 was paid in cash. View transaction list Journal entry worksheet > Record direct labor used, but not yet paid. Note: Enter debits before credits General Journal Transaction 1 Debit Credit...
1. Compute the (of products transferred from weaving to sewing . (b) cost of products transferred...
1.
Compute the (of products transferred from weaving to sewing . (b)
cost of products transferred from sewing to Pinished goods and ( )
cost of goods sold 2. Prepare journal entries dated June 30 to
record (a) goods transferred from weaving to sewing (b) goods
transferred from sewing to finished goods, (c) sale of finished
goods , and (d) cost of goods sold
Required information The following information applies to the questions displayed below.) Pro-Weave manufactures stadium blankets by...
Prepare summary journal entries to record the following transactions for a company in its first month...
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $80,000. b. Direct materials used in production, $37,000. Indirect materials used in production, $12,000. c. Paid cash for factory payroll, $35,000. Of this total, $25,000 is for direct labor and $10,000 is for indirect labor. d. Paid cash for other actual overhead costs, $7,000. e. Applied overhead at the rate of 120% of direct labor cost....
Hotwax makes surfboard wax in two sequential processes. This period, Hotwax purchased $69,000 in raw materials....
Hotwax makes surfboard wax in two sequential processes. This period, Hotwax purchased $69,000 in raw materials. Its mixing department requisitioned $56,500 of those materials for use in production. Prepare journal entries to record its purchase of raw materials and requisition of direct materials. View transaction list Journal entry worksheet < 1 2 2 Record purchase of raw materials inventory on account. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department....
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 Inventory $ 164,000 315, 000 720, 000 1,476, 000 Ending Inventory $ 249, e00 445, 000 805, 000 1,446, 000 Raw naterials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory The following additional information describes the company's manufacturing activities for June: $520, 000 3, 230, 000 210,000 Raw materials purchases...
I need help with my assignment please Exercise 3-14 Production cost flow and measurement; journal entries...
I need help with my assignment please
Exercise 3-14 Production cost flow and measurement; journal entries LO P1, P2, P3, P4 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 Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 182,000 370,000 585,000 1,406,000 Ending Inventory $285,000 450,000 760,000 1,496,000 The following additional information describes the company's...
Hotwax makes surfboard wax in two sequential processes. This period, Hotwax purchased $65,000 in raw materials. Its mixing department requisitioned $61,500 of those materials for use in production Prepare journal entries to record its purchase of raw materials and requisition of direct materials. View transaction list Journal entry worksheet < 1 2 Record purchase of raw materials inventory on account. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal Hotwax makes...
Prepare journal entries to record the following production activities for Hotwax 1. Incurred $100,000 of direct labor in its Mixing department and $90,000 of direct labor in its Shaping department (credit Factory Wages Payable) 2. Incurred indirect labor of $13,500 (credit Factory Wages Payable). 3. Total factory payroll of $203,500 was paid in cash View transaction list Journal entry worksheet 1 2 3 > Record direct labor used, but not yet pald. Note: Enter debits before credits Transaction General Journal...
Assembly to be assembled and painted. From Assembly, the chairs are transferred to Finished Goods Inventory and then are sold Mesa has compiled the following information for the month of February Direct materials Direct labor Applied manufacturing overhead Cost of goods completed and transferred out 77,000$ 74,000 58000 227,000 $ 17,000 9,000 167,000 272,000 Required: 1,2,3, & 4 Prepare journal entries for the transactions in the Cutting and Assembly Departments of Mesa Company, (If no entry is required for a...
Chapter 16 Homework Saved 4 Prepare journal entries to record the following production activities for Hotwax. 15 points 1. Requisitioned $14,500 of indirect materials for use in production of surfboard wax. 2. Incurred $184,000 overhead costs (credit Other accounts). 3. Applied overhead at the rate of 140% of direct labor costs. Direct labor costs were $145,000 in the Mixing department and $95,000 in the Shaping department.. Book View transaction ist References Journal entry worksheet Requisitioned $14,500 of indirect materials for...
Prepare journal entries to record the following production activities for Hotwax. 1. Incurred $85,000 of direct labor in its Mixing department and $85,000 of direct labor in its Shaping department (credit Factory Wages Payable) 2. incurred indirect labor of $20,500 (credit Factory Wages Payable) 3. Total factory payroll of $190,500 was paid in cash. View transaction list Journal entry worksheet > Record direct labor used, but not yet paid. Note: Enter debits before credits General Journal Transaction 1 Debit Credit...
1.
Compute the (of products transferred from weaving to sewing . (b)
cost of products transferred from sewing to Pinished goods and ( )
cost of goods sold 2. Prepare journal entries dated June 30 to
record (a) goods transferred from weaving to sewing (b) goods
transferred from sewing to finished goods, (c) sale of finished
goods , and (d) cost of goods sold
Required information The following information applies to the questions displayed below.) Pro-Weave manufactures stadium blankets by...
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $80,000. b. Direct materials used in production, $37,000. Indirect materials used in production, $12,000. c. Paid cash for factory payroll, $35,000. Of this total, $25,000 is for direct labor and $10,000 is for indirect labor. d. Paid cash for other actual overhead costs, $7,000. e. Applied overhead at the rate of 120% of direct labor cost....
Hotwax makes surfboard wax in two sequential processes. This period, Hotwax purchased $69,000 in raw materials. Its mixing department requisitioned $56,500 of those materials for use in production. Prepare journal entries to record its purchase of raw materials and requisition of direct materials. View transaction list Journal entry worksheet < 1 2 2 Record purchase of raw materials inventory on account. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
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 Inventory $ 164,000 315, 000 720, 000 1,476, 000 Ending Inventory $ 249, e00 445, 000 805, 000 1,446, 000 Raw naterials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory The following additional information describes the company's manufacturing activities for June: $520, 000 3, 230, 000 210,000 Raw materials purchases...
I need help with my assignment please
Exercise 3-14 Production cost flow and measurement; journal entries LO P1, P2, P3, P4 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 Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 182,000 370,000 585,000 1,406,000 Ending Inventory $285,000 450,000 760,000 1,496,000 The following additional information describes the company's...
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