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need help with question 9 M e s direct materials stred e nd of director cont. Also, n o balance of the Work in Proc...
need hwlp with question 8. please show how you got it The Fabricating Department started the...
need hwlp with question 8. please show how you got it
The Fabricating Department started the current month with a beginning Work in Process inventory of $10,000. During the month, it was assigned the following costs: direct materials, $76.000, direct labor, $24,000, and factory overhead, 50% of direct labor cost. Also, inventory with a cost of $109,000 was transferred out of the department to the next phase in the process. The ending balance of the Work in Process Inventory account...
Question 24 2p When direct labor costs are recorded in a job costing O Factory Wages...
Question 24 2p When direct labor costs are recorded in a job costing O Factory Wages Payable is debited and Work in Process Inventory is credited O Work in Process Inventory is debited and Factory Wages Payable is credited Cost of Goods Manufactured is debited and Direct Labor is credited ODirect Labor and Indirect Labor are debited and Factory Wages Payable is credited O Work in Process Inventory is debited and Factory Overhead is credited costs How much overhead Question...
The following information concerns production in the Forging Department for November. All direct materials are placed...
The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $81,780 of direct materials. ACCOUNT Work in Process—Forging Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Nov. 1 Bal., 8,700 units, 70% completed 101,268 30 Direct materials, 79,000 units 718,900 820,168 30 Direct labor 110,200 930,368 30 Factory overhead 152,183...
Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter...
Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Raw materials inventory Work in process inventory-Cutting Work in process inventory-stitching Finished goods inventory Beginning Inventory $ 51, 000 133, 500 153, 300 38,100 Ending Inventory $ 61,000 105,500 88, 400 26,250 The following additional information describes the company's production activities for May. Direct materials Raw materials...
help with wrong answers please Direct materials used Direct labor used Predetermined overhead rate (based on...
help with wrong answers please
Direct materials used Direct labor used Predetermined overhead rate (based on direct labor) Goods transferred from bagging to finished goods Bagging Department $ 232,000 $ 42,000 120 $(201,000) The company's revenue for the month totaled $470,000 from credit sales, and its cost of goods sold for the month is $242,000. Prepare summary journal entries dated October 31 to record its October production activities for (1) direct materials usage, (2) direct labor incurred (3) overhead allocation,...
The company purchased (with cash) and used 77000 yards of raw materials at a cost of...
The company purchased (with cash) and used 77000 yards of raw materials at a cost of $12.70 per yard. Its direct laborers finished goods during the period. Bowen's standard cost card for its only product is as follows: worked 40,850 hours and were paid a total of $633,175. The company started and completed 62,000 units of Standard Standard Standard or Boursor Rate(1)(2) Direct materials1 yards 13.00 yard 13.00 Quantity Price Cost per per per 1.0 hours '1s.so r15.50 Direct labor...
Clancy Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter...
Clancy Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories Ending Inventory $140,950 62,500 170,50e0 52,250 Beginning Inventory $116,00e Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory 263,500 283,300 240,100 The following additional information describes the company's production activities for May Direct materials Raw materials purchased on credit Direct materials used-Cutting...
Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter...
Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Ending Inventory Inventory 223,500 150,500 243, 300 116,300 56,100 44,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching $115,000...
Bal., 5,000 units, 35% completed Direct materials, 118,000 units @ Work In Process --Assembly Department 15,850...
Bal., 5,000 units, 35% completed Direct materials, 118,000 units @ Work In Process --Assembly Department 15,850 To Finished Goods, 115,000 units 200,600 $1.7 Direct labor 381,200 Factory overhead 148,225 Bal., 2 units, 55% completed Cost per equivalent units of $1.70 for Direct Materials and $4.50 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1. Cost of beginning work in process inventory completed this...
The following information concerns production in the Forging Department for November. All direct materials are placed...
The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $130,500 of direct materials. ACCOUNT Work in Process—Forging Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Nov. 1 Bal., 9,000 units, 50% completed 142,200 30 Direct materials, 82,000 units 1,172,600 1,314,800 30 Direct labor 97,270 1,412,070 30 Factory overhead 134,336...
need hwlp with question 8. please show how you got it
The Fabricating Department started the current month with a beginning Work in Process inventory of $10,000. During the month, it was assigned the following costs: direct materials, $76.000, direct labor, $24,000, and factory overhead, 50% of direct labor cost. Also, inventory with a cost of $109,000 was transferred out of the department to the next phase in the process. The ending balance of the Work in Process Inventory account...
Question 24 2p When direct labor costs are recorded in a job costing O Factory Wages Payable is debited and Work in Process Inventory is credited O Work in Process Inventory is debited and Factory Wages Payable is credited Cost of Goods Manufactured is debited and Direct Labor is credited ODirect Labor and Indirect Labor are debited and Factory Wages Payable is credited O Work in Process Inventory is debited and Factory Overhead is credited costs How much overhead Question...
Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Raw materials inventory Work in process inventory-Cutting Work in process inventory-stitching Finished goods inventory Beginning Inventory $ 51, 000 133, 500 153, 300 38,100 Ending Inventory $ 61,000 105,500 88, 400 26,250 The following additional information describes the company's production activities for May. Direct materials Raw materials...
help with wrong answers please
Direct materials used Direct labor used Predetermined overhead rate (based on direct labor) Goods transferred from bagging to finished goods Bagging Department $ 232,000 $ 42,000 120 $(201,000) The company's revenue for the month totaled $470,000 from credit sales, and its cost of goods sold for the month is $242,000. Prepare summary journal entries dated October 31 to record its October production activities for (1) direct materials usage, (2) direct labor incurred (3) overhead allocation,...
The company purchased (with cash) and used 77000 yards of raw materials at a cost of $12.70 per yard. Its direct laborers finished goods during the period. Bowen's standard cost card for its only product is as follows: worked 40,850 hours and were paid a total of $633,175. The company started and completed 62,000 units of Standard Standard Standard or Boursor Rate(1)(2) Direct materials1 yards 13.00 yard 13.00 Quantity Price Cost per per per 1.0 hours '1s.so r15.50 Direct labor...
Clancy Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories Ending Inventory $140,950 62,500 170,50e0 52,250 Beginning Inventory $116,00e Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory 263,500 283,300 240,100 The following additional information describes the company's production activities for May Direct materials Raw materials purchased on credit Direct materials used-Cutting...
Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Ending Inventory Inventory 223,500 150,500 243, 300 116,300 56,100 44,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching $115,000...
Bal., 5,000 units, 35% completed Direct materials, 118,000 units @ Work In Process --Assembly Department 15,850 To Finished Goods, 115,000 units 200,600 $1.7 Direct labor 381,200 Factory overhead 148,225 Bal., 2 units, 55% completed Cost per equivalent units of $1.70 for Direct Materials and $4.50 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1. Cost of beginning work in process inventory completed this...
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