Homework Answers
| Answer | |||
| Transaction | Account Titles and Explanation | Debit | Credit |
| 1 | Raw material inventory | $1,76,000 | |
| Cash | $1,76,000 | ||
| (To record raw material purchase for Cash) | |||
| 2 | Goods in process inventory (33000 + 176,000 - 7,000 - 54,000) | $1,48,000 | |
| Raw material inventory | $1,48,000 | ||
| (To record direct material usage) | |||
| 3 | Factory Overhead | $ 7,000 | |
| Raw material inventory | $ 7,000 | ||
| (To record indirect material usage) | |||
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The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 Inventories May 31 Raw materials $33,000 $ 54,000 Work in process 9,400 18,200 Finished goods 53,000 33,400 Activities and information for May Raw materials purchases (paid with cash) 176,000 Factory payroll (paid with cash) 150,000 Factory overhead Indirect materials 7,000 Indirect labor 34,500 Other overhead costs 117,500 Sales (received in cash) 1,400,000 Predetermined overhead rate based on direct...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials $33,000 $ 54,000 Work in process 9,400 18,200 Finished goods 53,000 33,400 Activities and information for May Raw materials purchases (paid with cash) 176,000 Factory payroll (paid with cash) 150,000 Factory overhead Indirect materials 7,000 Indirect labor 34,500 Other overhead costs 117,500 Sales (received in cash) 1,400,000 Predetermined overhead rate based on direct...
The following The following information is available for Lock-Tite Company, which produces special-order security products and...
The following The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials $33,000 $ 54,000 Work in process 9,400 18, 200 Finished goods 53,000 33, 400 Activities and information for May Raw materials purchases (paid with cash) 176,000 Factory payroll (paid with cash) 150,000 Factory overhead Indirect materials 7,000 Indirect labor 34,500 Other overhead costs 117,500 Sales (received in cash) 1,400,000 Predetermined overhead...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials $ 29,000 $ 56,000 Work in process 9,500 20,600 Finished goods 63,000 34,500 Activities and information for May Raw materials purchases (paid with cash) 172,000 Factory payroll (paid with cash) 150,000 Factory overhead...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials $ 29,000 $ 56,000 Work in process 9,500 20,600 Finished goods 63,000 34,500 Activities and information for May Raw materials purchases (paid with cash) 172,000 Factory payroll (paid with cash) 150,000 Factory overhead...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ 40,000 $ 9,400 53,000 18,500 33,400 58,000 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 176,000 150,000 9,000...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials $ 29,000 $ 52,000 Work in process 9,200 18,000 Finished goods 50,000 34,000 Activities and information for May Raw materials purchases (paid with cash) 177,000 Factory payroll (paid with cash) 150,000 Factory overhead Indirect materials 9,000 Indirect labor 34,500 Other overhead costs 118,000 Sales (received in cash) 1,100,000 Predetermined overhead rate based on...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $43,000 10, 200 63,000 52,000 21,300 35,600 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 210,000 345,000 15,000...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials $ 32,000 $ 46,000 Work in process 9,900 20,700 Finished goods 52,000 33,700 Activities and information for May Raw materials purchases (paid with cash) 176,000 Factory payroll (paid with cash) 200,000 Factory overhead Indirect materials 9,000 Indirect labor 46,000 Other overhead costs 110,500 Sales (received in cash) 1,600,000 Predetermined overhead rate based on...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 30 May 31 $ $43, eee 1e, 200 63,000 52, eee 21,300 35,6ee Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 210,...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 Inventories May 31 Raw materials $33,000 $ 54,000 Work in process 9,400 18,200 Finished goods 53,000 33,400 Activities and information for May Raw materials purchases (paid with cash) 176,000 Factory payroll (paid with cash) 150,000 Factory overhead Indirect materials 7,000 Indirect labor 34,500 Other overhead costs 117,500 Sales (received in cash) 1,400,000 Predetermined overhead rate based on direct...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials $33,000 $ 54,000 Work in process 9,400 18,200 Finished goods 53,000 33,400 Activities and information for May Raw materials purchases (paid with cash) 176,000 Factory payroll (paid with cash) 150,000 Factory overhead Indirect materials 7,000 Indirect labor 34,500 Other overhead costs 117,500 Sales (received in cash) 1,400,000 Predetermined overhead rate based on direct...
The following The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials $33,000 $ 54,000 Work in process 9,400 18, 200 Finished goods 53,000 33, 400 Activities and information for May Raw materials purchases (paid with cash) 176,000 Factory payroll (paid with cash) 150,000 Factory overhead Indirect materials 7,000 Indirect labor 34,500 Other overhead costs 117,500 Sales (received in cash) 1,400,000 Predetermined overhead...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ 40,000 $ 9,400 53,000 18,500 33,400 58,000 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 176,000 150,000 9,000...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $43,000 10, 200 63,000 52,000 21,300 35,600 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 210,000 345,000 15,000...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 30 May 31 $ $43, eee 1e, 200 63,000 52, eee 21,300 35,6ee Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 210,...
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