Homework Answers
| a] | Raw materials inventory | $ 136,000 | |
| Accounts payable | $ 136,000 | ||
| b] | WIP inventory | $ 94,000 | |
| Factory overhead | $ 28,000 | ||
| Raw materials inventory | $ 122,000 | ||
| c] | WIP inventory | $ 131,000 | |
| Factory overhead | $ 24,000 | ||
| Wages and salaries payable | $ 155,000 | ||
| d] | Factory overhead [26000+30000+24000] | $ 80,000 | |
| Selling expenses | $ 44,000 | ||
| Administrative expenses | $ 15,000 | ||
| Miscellaneous accounts | $ 139,000 | ||
| e] | WIP inventory [131000*135%] | $ 176,850 | |
| Factory overhead | $ 176,850 | ||
| f] | Finished goods inventory | $ 375,000 | |
| WIP inventory | $ 375,000 | ||
| g] | Cost of goods sold | $ 402,000 | |
| Finished goods inventory | $ 402,000 | ||
| h] | Accounts receivable | $ 500,000 | |
| Sales revenue | $ 500,000 |
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Lamonda Corp. uses a job order cost system. On April 1, the accounts had the following...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as...
Lamonda Corp. uses a job order
cost system. On April 1, the accounts had balances as shown in the
T-accounts below: The following transactions occurred during April:
(a) Purchased materials on account at a cost of $136,000. (b)
Requisitioned materials at a cost of $122,000, of which $28,000 was
for general factory use. (c) Recorded factory labor of $155,000, of
which $24,000 was indirect. (d) Incurred other costs:
Lamonda Corp. uses a job order cost system. On April 1, the...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April: (a) Purchased materials on account at a cost of $136,000. (b) Requisitioned materials at a cost of $122,000, of which $28,000 was for general factory use. (c) Recorded factory labor of $155,000, of which $24,000 was indirect. (d) Incurred other costs: Selling expense $ 44,000 Factory utilities 26,000 Administrative expenses 15,000 Factory rent...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April: (a) Purchased materials on account at a cost of $136,000. (b) Requisitioned materials at a cost of $122,000, of which $28,000 was for general factory use. (c) Recorded factory labor of $155,000, of which $24,000 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $ 44,000...
Please answer this question fully and follow th chart Lamonda Corp. uses a job order cost...
Please answer this question fully and follow th chart Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April: (a) Purchased materials on account at a cost of $136,000. (b) Requisitioned materials at a cost of $122,000, of which $28,000 was for general factory use. (c) Recorded factory labor of $155,000, of which $24,000 was indirect. (d) Incurred other costs: Selling expense $...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April: (a) Purchased materials on account at a cost of $233,470. (b) Requisitioned materials at a cost of $111,600, of which $15,500 was for general factory use. (c) Recorded factory labor of $224,100, of which $42,175 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $ 35,900...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April (a) Purchased materials on account at a cost of $232,770 (b) Requisitioned materials at a cost of $111,600, of which $15,400 was for general factory use (c) Recorded factory labor of $224,900, of which $41,875 was indirect. (d) Incurred other costs Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation S34,500 22,900...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T- accounts below: The following transactions occurred during April: (a) Purchased materials on account at a cost of $232,770. (b) Requisitioned materials at a cost of $111,900, of which $16,200 was for general factory use. (c) Recorded factory labor of $224, 100, of which $42,275 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as...
Lamonda Corp. uses a job order cost system. On April 1, the
accounts had balances as shown in the T-accounts below:
The following transactions occurred during April:
(a) Purchased materials on account at a cost of
$232,070.
(b) Requisitioned materials at a cost of $110,500, of
which $15,500 was for general factory use.
(c) Recorded factory labor of $225,100, of which $42,975
was indirect.
(d) Incurred other costs:
Selling expense
$
35,300
Factory utilities
24,400
Administrative expenses
50,250
Factory rent...
Lamonda Corp. uses a job order cost system. On Aprhe accounts had balances as shown in...
Lamonda Corp. uses a job order cost system. On Aprhe accounts had balances as shown in the T-accounts below The following transactions occurred during April (a) Purchased materials on account at a cost of $231,970 (b) Requisitioned materials at a cost of $110,500, of which $15,100 was for general factory use. (c) Recorded factory labor of $223,800, of which $42,475 was indirect (d) Incurred other costs $34,700 24,000 51,650 11,400 19,300 Factory rert Factory depreciation (e) Applied overhead at a...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April: (a) Purchased materials on account at a cost of $231770. (b) Requisitioned materials at a cost of $111,600, of which $16,100 was for general factory use. (c) Recorded factory labor of $224,000, of which $42,175 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $34,600 23,600...
Lamonda Corp. uses a job order
cost system. On April 1, the accounts had balances as shown in the
T-accounts below: The following transactions occurred during April:
(a) Purchased materials on account at a cost of $136,000. (b)
Requisitioned materials at a cost of $122,000, of which $28,000 was
for general factory use. (c) Recorded factory labor of $155,000, of
which $24,000 was indirect. (d) Incurred other costs:
Lamonda Corp. uses a job order cost system. On April 1, the...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April: (a) Purchased materials on account at a cost of $136,000. (b) Requisitioned materials at a cost of $122,000, of which $28,000 was for general factory use. (c) Recorded factory labor of $155,000, of which $24,000 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $ 44,000...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April: (a) Purchased materials on account at a cost of $233,470. (b) Requisitioned materials at a cost of $111,600, of which $15,500 was for general factory use. (c) Recorded factory labor of $224,100, of which $42,175 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $ 35,900...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April (a) Purchased materials on account at a cost of $232,770 (b) Requisitioned materials at a cost of $111,600, of which $15,400 was for general factory use (c) Recorded factory labor of $224,900, of which $41,875 was indirect. (d) Incurred other costs Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation S34,500 22,900...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T- accounts below: The following transactions occurred during April: (a) Purchased materials on account at a cost of $232,770. (b) Requisitioned materials at a cost of $111,900, of which $16,200 was for general factory use. (c) Recorded factory labor of $224, 100, of which $42,275 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation...
Lamonda Corp. uses a job order cost system. On April 1, the
accounts had balances as shown in the T-accounts below:
The following transactions occurred during April:
(a) Purchased materials on account at a cost of
$232,070.
(b) Requisitioned materials at a cost of $110,500, of
which $15,500 was for general factory use.
(c) Recorded factory labor of $225,100, of which $42,975
was indirect.
(d) Incurred other costs:
Selling expense
$
35,300
Factory utilities
24,400
Administrative expenses
50,250
Factory rent...
Lamonda Corp. uses a job order cost system. On Aprhe accounts had balances as shown in the T-accounts below The following transactions occurred during April (a) Purchased materials on account at a cost of $231,970 (b) Requisitioned materials at a cost of $110,500, of which $15,100 was for general factory use. (c) Recorded factory labor of $223,800, of which $42,475 was indirect (d) Incurred other costs $34,700 24,000 51,650 11,400 19,300 Factory rert Factory depreciation (e) Applied overhead at a...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April: (a) Purchased materials on account at a cost of $231770. (b) Requisitioned materials at a cost of $111,600, of which $16,100 was for general factory use. (c) Recorded factory labor of $224,000, of which $42,175 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $34,600 23,600...
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