Homework Answers
Answer : All three costs are initially combined in a work in process inventory Account.
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Which of the following statements is true regarding Direct Materials, Direct Labor and Manufacturing Overhead applied....
Direct materials, direct labor and manufacturing overhead initially flow into which of the following categories? Finished...
Direct materials, direct labor and manufacturing overhead initially flow into which of the following categories? Finished goods inventory, Indirect costs, Cost of goods sold, Work in process inventory
1)A manufacturer's cost of goods manufactured is the sum of direct materials, direct labor, and factory...
1)A manufacturer's cost of goods manufactured is the sum of direct materials, direct labor, and factory overhead costs incurred in producing products. True or False 2) Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $1,500 of direct materials and used $3,000 of direct labor. The job was not finished by the end of September, but needed an additional $2,000 of direct materials and additional direct labor of $4,500 to finish...
Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost...
Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct - labor costs $152,000 85,000 127,000 148,000 286.000 259,000 35,000 65,000 53,000 140 percent The ending balance of work-in-process inventory is O A. $413,000 O B. $454,800 OC. $168,800 OD. $127,000
Cost of materials purchases on account Cost of materials requisitioned (includes $2,300 of indirect) Direct labor...
Cost of materials purchases on account Cost of materials requisitioned (includes $2,300 of indirect) Direct labor costs incurred Manufacturing overhead costs incurred, including indirect materials Cost of goods completed Cost of goods sold Beginning raw materials inventory Beginning work in process inventory Beginning finished goods inventory Predetermined manufacturing overhead rate (as % of direct labor cost) $77,900 $45,300 $80,300 $98,800 $276,900 $149,000 $19,600 $35,300 $25,700 115% The journal entry to record actual manufacturing overhead costs includes a O A. debit...
1. Three costs in every product are direct materials, direct labor, and period costs direct materials,...
1. Three costs in every product are direct materials, direct labor, and period costs direct materials, work in process, and manufacturing overhead direct materials, direct labor, and manufacturing overhead direct materials, work in progress, and finished goods 2. What is the journal entry for under applied overhead? Manufacturing overhead Finished Goods Inventory Finished Goods Inventory Manufacturing Overhead Manufacturing overhead Cost of goods sold Cost of goods sold Manufacturing overhead 3. Use a piece of scrap paper...
Cost of materials purchases on account Cost of materials requisitioned (includes $4,600 of indirect) Direct labor...
Cost of materials purchases on account Cost of materials requisitioned (includes $4,600 of indirect) Direct labor costs incurred Manufacturing overhead costs incurred, including indirect materials Cost of goods manufactured Cost of goods sold Beginning raw materials inventory Beginning work in process inventory Beginning finished goods inventory Predetermined manufacturing overhead rate (as % of direct labor cost) $68,800 $51,800 $77,400 $97,600 $223,400 $151,800 $15,100 $30,600 $33,700 140% What is the balance in work in process inventory at the end of the...
Labels Actual factory overhead Depreciation of equipment Direct labor used Direct materials used Factory overhead applied...
Labels
Actual factory overhead
Depreciation of equipment
Direct labor used
Direct materials used
Factory overhead applied
Factory rent
Factory utilities
Indirect labor
Indirect materials
Required information (The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $27,000; factory rent, $39,000; factory utilities, $24,000; and factory...
1 Data Table Direct materials used Direct labor Manufacturing overhead allocated to the department . $...
1 Data Table Direct materials used Direct labor Manufacturing overhead allocated to the department . $ .. $ $ 106,000 20,000 158,000 Print Done Done wer Mac Trane Company's Work in Process Inventory account had a $63.000 beginning balance on December 1 (536.000 of this related to dired materials used during November, while $27.000 related to convers costs incurred during November Duning December, the following costs were incurred in the department 113 Click the icon to view the data from...
Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to...
Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $31,000 $ 4,790 $59,300 $88,700 $ 4,020 Inventories Raw materials Work in process Finished goods Beginning $ 10,400 $ 54,600 $ 34,800 Ending $ 18,700 $ 69,100 $ 42,500 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied...
CALCULATOR FULL Job No. 92 Direct Materials Direct Labor For 2,000 Units Manufacturing Overhead Date Beg....
CALCULATOR FULL Job No. 92 Direct Materials Direct Labor For 2,000 Units Manufacturing Overhead Date Beg. bal 6,000 4,200 5,000 6,000 8,000 2,000 4,000 18,000 13,000 13,800 $13,000 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost (44,800 2,000) $44.800 On the basis of the foregoing data, answer the following (a) What was the balance in Work in Process Invente Balance in Work in Process Inventory on January (b) of manufacturing overhead is applied on...
Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct - labor costs $152,000 85,000 127,000 148,000 286.000 259,000 35,000 65,000 53,000 140 percent The ending balance of work-in-process inventory is O A. $413,000 O B. $454,800 OC. $168,800 OD. $127,000
Cost of materials purchases on account Cost of materials requisitioned (includes $2,300 of indirect) Direct labor costs incurred Manufacturing overhead costs incurred, including indirect materials Cost of goods completed Cost of goods sold Beginning raw materials inventory Beginning work in process inventory Beginning finished goods inventory Predetermined manufacturing overhead rate (as % of direct labor cost) $77,900 $45,300 $80,300 $98,800 $276,900 $149,000 $19,600 $35,300 $25,700 115% The journal entry to record actual manufacturing overhead costs includes a O A. debit...
Cost of materials purchases on account Cost of materials requisitioned (includes $4,600 of indirect) Direct labor costs incurred Manufacturing overhead costs incurred, including indirect materials Cost of goods manufactured Cost of goods sold Beginning raw materials inventory Beginning work in process inventory Beginning finished goods inventory Predetermined manufacturing overhead rate (as % of direct labor cost) $68,800 $51,800 $77,400 $97,600 $223,400 $151,800 $15,100 $30,600 $33,700 140% What is the balance in work in process inventory at the end of the...
Labels
Actual factory overhead
Depreciation of equipment
Direct labor used
Direct materials used
Factory overhead applied
Factory rent
Factory utilities
Indirect labor
Indirect materials
Required information (The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $27,000; factory rent, $39,000; factory utilities, $24,000; and factory...
1 Data Table Direct materials used Direct labor Manufacturing overhead allocated to the department . $ .. $ $ 106,000 20,000 158,000 Print Done Done wer Mac Trane Company's Work in Process Inventory account had a $63.000 beginning balance on December 1 (536.000 of this related to dired materials used during November, while $27.000 related to convers costs incurred during November Duning December, the following costs were incurred in the department 113 Click the icon to view the data from...
Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $31,000 $ 4,790 $59,300 $88,700 $ 4,020 Inventories Raw materials Work in process Finished goods Beginning $ 10,400 $ 54,600 $ 34,800 Ending $ 18,700 $ 69,100 $ 42,500 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied...
CALCULATOR FULL Job No. 92 Direct Materials Direct Labor For 2,000 Units Manufacturing Overhead Date Beg. bal 6,000 4,200 5,000 6,000 8,000 2,000 4,000 18,000 13,000 13,800 $13,000 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost (44,800 2,000) $44.800 On the basis of the foregoing data, answer the following (a) What was the balance in Work in Process Invente Balance in Work in Process Inventory on January (b) of manufacturing overhead is applied on...
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