Issuance of Materials On May 7, Jernigan Company purchased on account 660 units of raw materials...
Issuance of Materials
On May 7, Jernigan Company purchased on account 660 units of raw materials at $13 per unit. During May, raw materials were requisitioned for production as follows: 257 units for Job 200 at $11 per unit and 323 units for Job 305 at $13 per unit.
Journalize the entry on May 7 to record the purchase. If an amount box does not require an entry, leave it blank.
| May 7 | |||
Journalize the entry on May 31 to record the requisition from the materials storeroom. If an amount box does not require an entry, leave it blank.
| May 31 | |||
Homework Answers
| Date | Accounts title | Debit | Credit |
| May-07 | Material inventory [or Raw material inventory] | $8,580 | |
| Accounts Payable | $8,580 | ||
| (to record purchase 660 units x $ 13) | |||
| May-31 | Work in Process Inventory | $7,026 | |
| Material inventory [or Raw material inventory] | $7,026 | ||
| (to record requisition - [257 x 11] + [323*13]) |
Add Answer to:
Issuance of Materials
On May 7, Jernigan Company purchased on account 660 units of raw
materials...
Issuance of Materials On May 7, Darling Company purchased on account 770 units of raw materials...
Issuance of Materials On May 7, Darling Company purchased on account 770 units of raw materials at $11 per unit. During May, raw materials were requisitioned for production as follows: 239 units for Job 200 at $8 per unit and 370 units for Job 305 at $11 per unit. Journalize the entry on May 7 to record the purchase. If an amount box does not require an entry, leave it blank. May 7 Journalize the entry on May 31 to...
Issuance of Materials On August 4, Jernigan Company purchased on account 760 units of raw materials...
Issuance of Materials On August 4, Jernigan Company purchased on account 760 units of raw materials at $22 per unit. During August, raw materials were requisitioned for production as follows: 289 unit for Job 40 at $18 per unit and 312 units for Job 42 at $22 per unit. Journalize the entry on August 4 to record the purchase. Aug. 4 Journalize the entry on August 31 to record the requisition from the materials storeroom. Aug. 31
On May 7, Bergan Company purchased on account 60,500 units of raw materials at $13.00 per...
On May 7, Bergan Company purchased on account 60,500 units of raw materials at $13.00 per unit. During May, raw materials were requisitioned for production as follows: 26,600 units for Job 200 at $9.00 per unit and 26,800 units for Job 305 at $13.00 per unit. Journalize the entry on May 7 to record the purchase and on May 31 to record the requisition from the materials storeroom. Refer to the Chart of Accounts for exact wording of account titles....
On August 4, Darling Company purchased on account 660 units of raw materials at $11 per...
On August 4, Darling Company purchased on account 660 units of raw materials at $11 per unit. During August, raw materials were requisitioned for production as follows: 198 units for Job 40 at $9 per unit and 284 units for Job 42 at $11 per unit. Journalize the entry on August 4 to record the purchase. Aug. 4 Journalize the entry on August 31 to record the requisition from the materials storeroom. Aug. 31
BE 16-1 Issuance of materials Obj. 2 On May 7, Bergan Company purchased on account 10.000...
BE 16-1 Issuance of materials Obj. 2 On May 7, Bergan Company purchased on account 10.000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 weits for Job 200 at $8 per unit and 1.480 units for Job 305 at $5 per unit Journalive the entry on May 7 to record the purchase and on May 31 to record the requisition from the materials storeroom.
Issuance of Materials On August 4, Rothchild Company purchased on account 12,000 units of raw materials...
Issuance of Materials On August 4, Rothchild Company purchased on account 12,000 units of raw materials at $14 per unit. During August, raw materials were requisitioned for production as follows: 5,000 units for Job 40 at $8 per unit and 6,200 units for Job 42 at $14 per unit. Journalize the entry on August 4 to record the purchase. Aug. 4 Journalize the entry on August 31 to record the requisition from the materials storeroom. Aug. 31 Accounts Payable Accounts...
On April 6, Keenan Company purchased on account 480 units of raw materials at $16 per...
On April 6, Keenan Company purchased on account 480 units of raw materials at $16 per unit. On April 21, raw materials were requisitioned for production as follows: 202 units for Job 50 at $12 per unit and 149 units for Job 51 at $16 per unit. Journalize the entry on April 6 to record the purchase. Apr. 6 Journalize the entry on April 21 to record the requisition from the materials storeroom. Apr. 21
10. set? cribe how a job order cost system can be used for professional service businesses....
10. set? cribe how a job order cost system can be used for professional service businesses. ic Exercises SHOW WE ROW BE 16.1 Issuance of materials Obj. 2 On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 units for Job 200 at $8 per unit and 1,480 units for Job 305 at $5 per unit. Journalize the entry on May 7...
Journalize the entries to record the following transactions: 1. Mar. 10: 500 units of raw materials...
Journalize the entries to record the following transactions: 1. Mar. 10: 500 units of raw materials were purchased on account at $6.50 per unit. 2. Mar. 15: 400 units of raw materials were requisitioned at $7.00 per unit for production, Job 872. 3. Mar. 25: 300 units of raw materials were requisitioned at $6.50 per unit for production, Job 879. If an amount box does not require an entry, leave it blank. Mar. 10 Mar. 15 Mar. 25 The cost...
Applying Factory Overhead Jernigan Company estimates that total factory overhead costs will be $68,000 for the...
Applying Factory Overhead Jernigan Company estimates that total factory overhead costs will be $68,000 for the year. Direct labor hours are estimated to be 17,000. a. For Jernigan Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. If required, round your answer to two decimal places. per direct labor hour $ b. During May, Jernigan Company accumulated 720 hours of direct labor costs on Job 200 and 620 hours on Job 305. Determine the...
Issuance of Materials On May 7, Darling Company purchased on account 770 units of raw materials at $11 per unit. During May, raw materials were requisitioned for production as follows: 239 units for Job 200 at $8 per unit and 370 units for Job 305 at $11 per unit. Journalize the entry on May 7 to record the purchase. If an amount box does not require an entry, leave it blank. May 7 Journalize the entry on May 31 to...
Issuance of Materials On August 4, Jernigan Company purchased on account 760 units of raw materials at $22 per unit. During August, raw materials were requisitioned for production as follows: 289 unit for Job 40 at $18 per unit and 312 units for Job 42 at $22 per unit. Journalize the entry on August 4 to record the purchase. Aug. 4 Journalize the entry on August 31 to record the requisition from the materials storeroom. Aug. 31
On August 4, Darling Company purchased on account 660 units of raw materials at $11 per unit. During August, raw materials were requisitioned for production as follows: 198 units for Job 40 at $9 per unit and 284 units for Job 42 at $11 per unit. Journalize the entry on August 4 to record the purchase. Aug. 4 Journalize the entry on August 31 to record the requisition from the materials storeroom. Aug. 31
BE 16-1 Issuance of materials Obj. 2 On May 7, Bergan Company purchased on account 10.000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 weits for Job 200 at $8 per unit and 1.480 units for Job 305 at $5 per unit Journalive the entry on May 7 to record the purchase and on May 31 to record the requisition from the materials storeroom.
Issuance of Materials On August 4, Rothchild Company purchased on account 12,000 units of raw materials at $14 per unit. During August, raw materials were requisitioned for production as follows: 5,000 units for Job 40 at $8 per unit and 6,200 units for Job 42 at $14 per unit. Journalize the entry on August 4 to record the purchase. Aug. 4 Journalize the entry on August 31 to record the requisition from the materials storeroom. Aug. 31 Accounts Payable Accounts...
10. set? cribe how a job order cost system can be used for professional service businesses. ic Exercises SHOW WE ROW BE 16.1 Issuance of materials Obj. 2 On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 units for Job 200 at $8 per unit and 1,480 units for Job 305 at $5 per unit. Journalize the entry on May 7...
Journalize the entries to record the following transactions: 1. Mar. 10: 500 units of raw materials were purchased on account at $6.50 per unit. 2. Mar. 15: 400 units of raw materials were requisitioned at $7.00 per unit for production, Job 872. 3. Mar. 25: 300 units of raw materials were requisitioned at $6.50 per unit for production, Job 879. If an amount box does not require an entry, leave it blank. Mar. 10 Mar. 15 Mar. 25 The cost...
Applying Factory Overhead Jernigan Company estimates that total factory overhead costs will be $68,000 for the year. Direct labor hours are estimated to be 17,000. a. For Jernigan Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. If required, round your answer to two decimal places. per direct labor hour $ b. During May, Jernigan Company accumulated 720 hours of direct labor costs on Job 200 and 620 hours on Job 305. Determine the...
Most questions answered within 3 hours.
-
When the sum of square residual is 0, R2 is
Need more information to answer this...
asked 10 minutes ago -
During the last year of operations, Theta’s accounts receivable
increased by $17,000, accounts payable increased by...
asked 4 minutes ago -
The domestic dog has 39 pairs of homologous chromosomes. A dog's
somatic cells have ________ chromosomes...
asked 7 minutes ago -
. For a diverging lens, construct a derivation of Newton’s lens
equation: xo xi = f^2...
asked 7 minutes ago -
All academic manuscripts (journal articles, communications,
etc.) have an introduction as a way to introduce the...
asked 11 minutes ago -
What is the difference in proton concentration between two aqueous
solutions, one of pH= 3.5 and...
asked 18 minutes ago -
Sun Bowl Inc. owns equipment for which it paid $170 million. At
the end of 2018,...
asked 13 minutes ago -
Suppose a celebrity gains a twitter follower every 15 minutes,
with a pattern that conforms to...
asked 23 minutes ago -
Consider the scenario of a worker contacting you, stating that
he received a notice of violation...
asked 27 minutes ago -
10. A monopolist is able to identify two market segments, A and
B, with demand curves...
asked 27 minutes ago -
marketing question
Please choose the correct statement among the options below
a. The PIMS method establishes...
asked 34 minutes ago -
Pretend Java does not support multiplication. Write a recursive
version of the following method.
// Returns...
asked 39 minutes ago