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This Quiz: 10 pts po nts Uniq Works purchased raw materials amounting to $130,000 on account...
6) Miguel, a manager for Sierra Company, is inspecting the reports provided by his company's accounting...
6) Miguel, a manager for Sierra Company, is inspecting the reports provided by his company's accounting department. He wants to decide how to schedule his department's employees in production next week. Miguel is examining A) regulatory accounting information B) financial accounting information C) organizational accounting information D) managerial accounting information 1) 7) Uniq Works purchased raw materials amounting to $122,000 on account and $19,000 for cash. The materials will be used to manufacture upholstery for furniture manufacturers on a contract...
When raw materials are purchased on account for use in a process costing system, the corresponding...
When raw materials are purchased on account for use in a process costing system, the corresponding journal entry that should be recorded will include: A debit to Work in Process Inventory. A debit to Accounts Payable. A credit to Cash. A debit to Raw Materials Inventory. A credit to Raw Materials Inventory.
a. Purchased raw materials on credit. $240,000 b. Materials requisitions record use of the following materials...
a. Purchased raw materials on credit. $240,000 b. Materials requisitions record use of the following materials for the month Job 136 Job 137 Job 138 Job 139 Job 140 Total direct Baterials Indirect materials Total materials used $ 49,500 33,500 19,400 22,800 7,200 132,400 20,000 $152,400 c. Paid $15.750 cash to a computer consultant to reprogram factory equipment d. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 Job 137...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $55,500. 2. Raw Materials...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $55,500. 2. Raw Materials of $43,700 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,600 was classified as indirect materials. 3. Factory labor costs incurred were $65,600, of which $50,000 pertained to factory wages payable and $15,600 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,400 was direct labor and $10,200 was indirect labor. 5. Manufacturing overhead costs incurred...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $49,700. 2. Raw Materials...
Crawford Corporation incurred the following
transactions.
1.
Purchased raw materials on account $49,700.
2.
Raw Materials of $41,700 were requisitioned to the factory. An
analysis of the materials requisition slips indicated that $8,100
was classified as indirect materials.
3.
Factory labor costs incurred were $61,900, of which $50,500
pertained to factory wages payable and $11,400 pertained to
employer payroll taxes payable.
4.
Time tickets indicated that $55,400 was direct labor and $6,500
was indirect labor.
5.
Manufacturing overhead costs incurred...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $47,000. 2. Raw Materials...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $47,000. 2. Raw Materials of $44,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,300 was classified as indirect materials. 3. Factory labor costs incurred were $60,100, of which $51,000 pertained to factory wages payable and $9,100 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,400 was direct labor and $5,700 was indirect labor. 5. Manufacturing overhead costs incurred...
Exercise 15-7 Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $53,000. 2....
Exercise 15-7 Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $53,000. 2. Raw Materials of $45,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,400 was classified as indirect materials. 3. Factory labor costs incurred were $65,400, of which $50,200 pertained to factory wages payable and $15,200 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,000 was direct labor and $10,400 was indirect labor. 5. Manufacturing overhead...
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...
Required information Problem 02.1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4...
Required information Problem 02.1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 The following information applies to the questions displayed below] Marcelino Co.'s March 31 Inventory of raw materials is $82,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $377.000. Overhead costs incurred in April are: indirect materials, $59,000 indirect labor, $24.000 factory rent, $31.000; factory utilities, $22,000, and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of...
6) Miguel, a manager for Sierra Company, is inspecting the reports provided by his company's accounting department. He wants to decide how to schedule his department's employees in production next week. Miguel is examining A) regulatory accounting information B) financial accounting information C) organizational accounting information D) managerial accounting information 1) 7) Uniq Works purchased raw materials amounting to $122,000 on account and $19,000 for cash. The materials will be used to manufacture upholstery for furniture manufacturers on a contract...
a. Purchased raw materials on credit. $240,000 b. Materials requisitions record use of the following materials for the month Job 136 Job 137 Job 138 Job 139 Job 140 Total direct Baterials Indirect materials Total materials used $ 49,500 33,500 19,400 22,800 7,200 132,400 20,000 $152,400 c. Paid $15.750 cash to a computer consultant to reprogram factory equipment d. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 Job 137...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $55,500. 2. Raw Materials of $43,700 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,600 was classified as indirect materials. 3. Factory labor costs incurred were $65,600, of which $50,000 pertained to factory wages payable and $15,600 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,400 was direct labor and $10,200 was indirect labor. 5. Manufacturing overhead costs incurred...
Crawford Corporation incurred the following
transactions.
1.
Purchased raw materials on account $49,700.
2.
Raw Materials of $41,700 were requisitioned to the factory. An
analysis of the materials requisition slips indicated that $8,100
was classified as indirect materials.
3.
Factory labor costs incurred were $61,900, of which $50,500
pertained to factory wages payable and $11,400 pertained to
employer payroll taxes payable.
4.
Time tickets indicated that $55,400 was direct labor and $6,500
was indirect labor.
5.
Manufacturing overhead costs incurred...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $47,000. 2. Raw Materials of $44,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,300 was classified as indirect materials. 3. Factory labor costs incurred were $60,100, of which $51,000 pertained to factory wages payable and $9,100 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,400 was direct labor and $5,700 was indirect labor. 5. Manufacturing overhead costs incurred...
Exercise 15-7 Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $53,000. 2. Raw Materials of $45,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,400 was classified as indirect materials. 3. Factory labor costs incurred were $65,400, of which $50,200 pertained to factory wages payable and $15,200 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,000 was direct labor and $10,400 was indirect labor. 5. Manufacturing overhead...
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...
Required information Problem 02.1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 The following information applies to the questions displayed below] Marcelino Co.'s March 31 Inventory of raw materials is $82,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $377.000. Overhead costs incurred in April are: indirect materials, $59,000 indirect labor, $24.000 factory rent, $31.000; factory utilities, $22,000, and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of...
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