Question text Transaction: Record transfer of completed work from Spinning department to Weaving department, $23,000. What...
Question text
Transaction: Record transfer of completed work from Spinning department to Weaving department, $23,000. What is the DEBIT and CREDIT
Homework Answers
When completed work is transferred it means it is finished goods.
So debit and credit will be
Finished goods -Weaving department Debit . $23000
Work-in progress - spinning department Credit . $23000
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Question text
Transaction: Record transfer of completed work from Spinning
department to Weaving department, $23,000. What...
55 rolls 560 rolls UNITS Beginning Work-in-Process Inventory Transferred in from Spinning Department during November Completed...
55 rolls 560 rolls UNITS Beginning Work-in-Process Inventory Transferred in from Spinning Department during November Completed during November Ending Work-in-Process (80% complete for conversion work) 490 rolls 125 rolls $ 10,670 COSTS Beginning Work-in-Process Inventory (transferred in costs, $3,500; materials cost, $1,750; conversion costs, $5,420) Transferred in from Spinning Department Materials cost added during November Conversion costs added during November (manufacturing wages, $8,120; manufacturing overhead allocated, $45,460) 18,025 13,010 53,580 Units accounted for: Beginning work-in-process Completed and transferred out Total...
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department....
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories: Beginning Inventory $ 164,000 315, 000 720, 000 1,476, 000 Ending Inventory $ 249, e00 445, 000 805, 000 1,446, 000 Raw naterials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory The following additional information describes the company's manufacturing activities for June: $520, 000 3, 230, 000 210,000 Raw materials purchases...
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department....
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories: Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 120,000 300,000 570,000 1,266,000 Ending Inventory $ 185,000 330,000 700,000 1,206,000 The following additional information describes the company's manufacturing activities for June: $ 500,000 3,060,000 156,000 $ 240,000 75,000 120,000 Raw materials purchases (on credit) Factory payroll cost...
FloorMate Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it...
FloorMate 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 October 1, FloorMate Carpet Company had the following inventories: Finished Goods $5,600 Work in Process-Spinning Department 1,500 Work in Process-Tufting Department 2,300 Materials 4,800 Departmental accounts are maintained for factory overhead,...
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department....
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories Beginning Ending Inventory Inventory Raw materials inventory $ 120,000 $185.000 Work in process inventory-Weaving 300,000 330,000 Work in process inventory-Sewing 570 000 700.000 Finished goods inventory 1,286,000 1,206,000 The following additional information describes the company's manufacturing activities for June $ 500.000 3,060,000 156.000 $ 240,000 75,000 120,000 Raw materials purchases (on credit) Factory payroll cost...
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing departmen...
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department The following information is available regarding its June inventories Beginning Ending Inventory 261 198 475 690 Raw materials inventory 540 Work in process inventory.Weaving Work in process inventorySewing Finished goods inventory 860 1.406 1,296 The following additional information describes the company's manufacturing activities for June: 700 505 216 Raw materials purchases (on credit) Factory wages cost (paid in cash) Other factory overhead cost (Other...
Pro Weave manufactures stadium blankets by passing the products through a weaving department and a sewing...
Pro Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories: Ending Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 192,000 300,000 700,000 1,456,000 Inventory $ 229,000 465,000 910,000 1,216,000 The following additional information describes the company's manufacturing activities for June $ 560.000 3,260,000 212,000 $ 266,000 81,000 154,000 Raw materials purchases (on credit) Factory payroll...
1. Compute the (of products transferred from weaving to sewing . (b) cost of products transferred...
1.
Compute the (of products transferred from weaving to sewing . (b)
cost of products transferred from sewing to Pinished goods and ( )
cost of goods sold 2. Prepare journal entries dated June 30 to
record (a) goods transferred from weaving to sewing (b) goods
transferred from sewing to finished goods, (c) sale of finished
goods , and (d) cost of goods sold
Required information The following information applies to the questions displayed below.) Pro-Weave manufactures stadium blankets by...
HOW DO I CALCULATE? Pro-Weave manufactures stadium blankets by passing the products through a weaving department...
HOW DO I CALCULATE?
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories: Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 186,000 430,000 715,000 1,486,000 Ending Inventory $ 193,000 355,000 945,000 1,406,000 The following additional information describes the company's manufacturing activities for June: $630,000 3,190,000 204,000 $ 306,000 135,000 158,000 Raw materials purchases (on credit)...
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department....
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories: Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 198,000 315,000 705,000 1,486,000 Ending Inventory $ 197,000 350,000 920,000 1,266,000 The following additional information describes the company's manufacturing activities for June: $ 645,000 3,320,000 182,000 $ 242,000 132,000 182,000 Raw materials purchases (on credit) Factory payroll cost...
55 rolls 560 rolls UNITS Beginning Work-in-Process Inventory Transferred in from Spinning Department during November Completed during November Ending Work-in-Process (80% complete for conversion work) 490 rolls 125 rolls $ 10,670 COSTS Beginning Work-in-Process Inventory (transferred in costs, $3,500; materials cost, $1,750; conversion costs, $5,420) Transferred in from Spinning Department Materials cost added during November Conversion costs added during November (manufacturing wages, $8,120; manufacturing overhead allocated, $45,460) 18,025 13,010 53,580 Units accounted for: Beginning work-in-process Completed and transferred out Total...
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories: Beginning Inventory $ 164,000 315, 000 720, 000 1,476, 000 Ending Inventory $ 249, e00 445, 000 805, 000 1,446, 000 Raw naterials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory The following additional information describes the company's manufacturing activities for June: $520, 000 3, 230, 000 210,000 Raw materials purchases...
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories: Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 120,000 300,000 570,000 1,266,000 Ending Inventory $ 185,000 330,000 700,000 1,206,000 The following additional information describes the company's manufacturing activities for June: $ 500,000 3,060,000 156,000 $ 240,000 75,000 120,000 Raw materials purchases (on credit) Factory payroll cost...
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories Beginning Ending Inventory Inventory Raw materials inventory $ 120,000 $185.000 Work in process inventory-Weaving 300,000 330,000 Work in process inventory-Sewing 570 000 700.000 Finished goods inventory 1,286,000 1,206,000 The following additional information describes the company's manufacturing activities for June $ 500.000 3,060,000 156.000 $ 240,000 75,000 120,000 Raw materials purchases (on credit) Factory payroll cost...
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department The following information is available regarding its June inventories Beginning Ending Inventory 261 198 475 690 Raw materials inventory 540 Work in process inventory.Weaving Work in process inventorySewing Finished goods inventory 860 1.406 1,296 The following additional information describes the company's manufacturing activities for June: 700 505 216 Raw materials purchases (on credit) Factory wages cost (paid in cash) Other factory overhead cost (Other...
Pro Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories: Ending Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 192,000 300,000 700,000 1,456,000 Inventory $ 229,000 465,000 910,000 1,216,000 The following additional information describes the company's manufacturing activities for June $ 560.000 3,260,000 212,000 $ 266,000 81,000 154,000 Raw materials purchases (on credit) Factory payroll...
1.
Compute the (of products transferred from weaving to sewing . (b)
cost of products transferred from sewing to Pinished goods and ( )
cost of goods sold 2. Prepare journal entries dated June 30 to
record (a) goods transferred from weaving to sewing (b) goods
transferred from sewing to finished goods, (c) sale of finished
goods , and (d) cost of goods sold
Required information The following information applies to the questions displayed below.) Pro-Weave manufactures stadium blankets by...
HOW DO I CALCULATE?
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories: Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 186,000 430,000 715,000 1,486,000 Ending Inventory $ 193,000 355,000 945,000 1,406,000 The following additional information describes the company's manufacturing activities for June: $630,000 3,190,000 204,000 $ 306,000 135,000 158,000 Raw materials purchases (on credit)...
Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories: Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 198,000 315,000 705,000 1,486,000 Ending Inventory $ 197,000 350,000 920,000 1,266,000 The following additional information describes the company's manufacturing activities for June: $ 645,000 3,320,000 182,000 $ 242,000 132,000 182,000 Raw materials purchases (on credit) Factory payroll cost...
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