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Calculator Chart of Accounts General Journal H1 Instructions On November 2, Newsprint Manufacturing purchases 5 rolls...
Calculator On November 2, Newsprint Manufacturing purchases 5 rolls of paper on account at $125 per...
Calculator On November 2, Newsprint Manufacturing purchases 5 rolls of paper on account at $125 per roll for use within the production process. On November 5, 4 roles of this paper are issued to Job 157A in the Printing Department. The Printing Department records $675 in direct labor and $1,150 of factory overhead to Job 157A. On November 8, Printing transfers Job 1574 to the Folding Department. The Folding Department applies $450 in direct labor and $655 in factory overhead...
Entries for process cost system Instructions Chart of Accounts Journal Final Questions X Instructions Port Ormond...
Entries for process cost system Instructions Chart of Accounts Journal Final Questions X Instructions Port Ormond Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into yarn. The output of the Spinning Department is transferred to the Tufting Department, where carpet backing is added at the beginning of the process and the process is completed. On January 1, Port Ormond Carpet Company had the following inventories: Finished Goods $6,200 Work in Process-Spinning...
Radford Inc. manufactures a sugar product by a continuous process, involving three production departments- Refining, Sifting,...
Radford Inc. manufactures a sugar product by a continuous process, involving three production departments- Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $371,000, S142,000, and $98,400, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $29,200, and work in process at the end of the period totaled $28,400. Required: a. (1) On September 30, journalize the entry to...
Instructions Chart of Accounts Amount Descriptions Journal T Accounts < HI Instructions Kurtz Fencing Inc. uses...
Instructions Chart of Accounts Amount Descriptions Journal T Accounts < HI Instructions Kurtz Fencing Inc. uses a job order cost system. The following data summarize the operations related to production for March, the first month of operations: a. Materials purchased on account, $30,100. b. Materials requisitioned and factory labor used: Job Materials Factory Labor $3,110 $2,720 301 302 3,710 3,810 303 1,970 2,400 8,500 304 6,870 305 5,210 5,410 306 3,850 3,290 For general factory use 1,080 4,120 c. Factory...
Radford Inc. manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and...
Radford Inc. manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $385,000, $143,000, and $99,000, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $29,600, and work in process at the end of the period totaled $29,800. Required: a. (1) On September 30, journalize the entry to record...
Entries for flow of factory costs for process cost system Instructions Chart of Accounts Journal Instructions...
Entries for flow of factory costs for process cost system Instructions Chart of Accounts Journal Instructions Sweeties, Inc., manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $388,000, $141,000, and $96,800, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $29,800, and work in process at the end...
eBook Calculator Print tem Cost of production and journal entries Instructions Chart of Accounts Journal Final...
eBook Calculator Print tem Cost of production and journal entries Instructions Chart of Accounts Journal Final Question Instructions AccuBlade Castings Inc. casts blades for turbine engines. Within the Casting Department, aloy is first melted in a crucible, then poured into molds to produce the castings. On May 1, there were 340 pounds of alloy in process, which were 60% complete as to conversion. The Work in Process balance for these 340 pounds was 553,448, determined as follows: $51,000.00 Direct materials...
The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the...
The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be $210,000, and total direct labor costs would be $150,000. During February, the actual direct labor cost totaled $12,000, and factory overhead cost incurred totaled $17,100 Required: a. What is the predetermined factory overhead rate based on direct labor cost? b. Journalize the entry to apply factory overhead to production for February 28....
Use the provided chart of accounts below to prepare the general journal entries in the space...
Use the provided chart of accounts below to prepare the general journal entries in the space provided for the following transactions and events that occurred in November for ABC Manufacturing Company who uses a job order costing system. (Do not abbreviate when writing journal entries.) Chart of Accounts Cash Raw Materials Inventory Goods in Process Inventory Finished Goods Inventory Accumulated Depreciation Accounts Payable Factory Payroll Factory Overhead Sales Cost of Goods Sold Rent Expense Salaries Expense Utilities Expense (Write journal...
Equivalent units and related costs; cost of production report; entries Instructions Chart of Accounts Cost of...
Equivalent units and related costs; cost of production report; entries Instructions Chart of Accounts Cost of Production Report Journal Final Questions Instructions White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Miling Department, the materials pass through the Sitting and Packaging departments, emerging as packaged refined flour The balance in the account Work in Process-Sifting Department was as follows on July 1 Work in Process...
Calculator On November 2, Newsprint Manufacturing purchases 5 rolls of paper on account at $125 per roll for use within the production process. On November 5, 4 roles of this paper are issued to Job 157A in the Printing Department. The Printing Department records $675 in direct labor and $1,150 of factory overhead to Job 157A. On November 8, Printing transfers Job 1574 to the Folding Department. The Folding Department applies $450 in direct labor and $655 in factory overhead...
Radford Inc. manufactures a sugar product by a continuous process, involving three production departments- Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $371,000, S142,000, and $98,400, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $29,200, and work in process at the end of the period totaled $28,400. Required: a. (1) On September 30, journalize the entry to...
Instructions Chart of Accounts Amount Descriptions Journal T Accounts < HI Instructions Kurtz Fencing Inc. uses a job order cost system. The following data summarize the operations related to production for March, the first month of operations: a. Materials purchased on account, $30,100. b. Materials requisitioned and factory labor used: Job Materials Factory Labor $3,110 $2,720 301 302 3,710 3,810 303 1,970 2,400 8,500 304 6,870 305 5,210 5,410 306 3,850 3,290 For general factory use 1,080 4,120 c. Factory...
Entries for flow of factory costs for process cost system Instructions Chart of Accounts Journal Instructions Sweeties, Inc., manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $388,000, $141,000, and $96,800, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $29,800, and work in process at the end...
eBook Calculator Print tem Cost of production and journal entries Instructions Chart of Accounts Journal Final Question Instructions AccuBlade Castings Inc. casts blades for turbine engines. Within the Casting Department, aloy is first melted in a crucible, then poured into molds to produce the castings. On May 1, there were 340 pounds of alloy in process, which were 60% complete as to conversion. The Work in Process balance for these 340 pounds was 553,448, determined as follows: $51,000.00 Direct materials...
The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be $210,000, and total direct labor costs would be $150,000. During February, the actual direct labor cost totaled $12,000, and factory overhead cost incurred totaled $17,100 Required: a. What is the predetermined factory overhead rate based on direct labor cost? b. Journalize the entry to apply factory overhead to production for February 28....
Equivalent units and related costs; cost of production report; entries Instructions Chart of Accounts Cost of Production Report Journal Final Questions Instructions White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Miling Department, the materials pass through the Sitting and Packaging departments, emerging as packaged refined flour The balance in the account Work in Process-Sifting Department was as follows on July 1 Work in Process...
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