Leandro Corp. manufactures wooden desks. Production consists of three processes: cutting, assembly, and finishing. The f...
Leandro Corp. manufactures wooden desks. Production consists of three processes: cutting, assembly, and finishing. The following costs are given for April: Cutting Assembly Finishing direct materials $7,000 $10,000 $3,000 direct labor 3,000 14,000 2,000 applied overhead 4,000 5,000 6,000 There were no work in process inventories and 1,000 podiums were produced. What is the cost transferred out of the assembly department. a. $29,000 b. $43,000 c. $14,000 d. $54,000 e. None of these choices are correct.
Homework Answers
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a. $29,000
$10,000+$14,000+$5,000
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Leandro Corp. manufactures wooden desks. Production consists of three processes: cutting, assembly, and finishing. The f...
Leandro Corp. manufactures wooden desks. Production consists of three processes: cutting, assembly, and finishing. The following...
Leandro Corp. manufactures wooden desks. Production consists of three processes: cutting, assembly, and finishing. The following costs are given for April: Cutting Assembly Finishing direct materials $7,000 $10,000 $3,000 direct labor 3,000 14,000 2,000 applied overhead 4,000 5,000 6,000 There were no work in process inventories and 1,000 podiums were produced. The journal entry to assign costs to the Assembly process would be
Gobert Corporation manufactures wooden tables and chairs. Their estimated direct manufacturing costs (cost of the wood,...
Gobert Corporation manufactures wooden tables and chairs. Their estimated direct manufacturing costs (cost of the wood, cost of labor of employees cutting wood and assembling tables and chairs) are $38/unit. Gobert Corp. expects to incur indirect overhead costs of $80,000 per month. Expected production for the first four months of 2019 is as follows: January February March April Estimated production (in units) 6,000 7,000 3,000 4,000 How much overhead would Gobert Corporation allocate to the month of March?
Calculator The following production data were taken from the records of the Finishing Department for June...
Calculator The following production data were taken from the records of the Finishing Department for June Inventory in process, June 1, 30% completed 4,000 units Completed units during June 65,000 units Ending Inventory, 60% completed 65,000 units The number of materials equivalent units of production in the June 30 Finishing Department inventory, assuming that the first in, first-out method is used to cost Inventories and materials were added at the beginning of the process, is Oa. 68,000 units Ob. 76,000...
1) 2) 3) 4) 5) The debits to Work in Process-Assembly Department for April, together with...
1)
2)
3)
4)
5)
The debits to Work in Process-Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: $8,900 5,500 27,500 32,000 Materials cost, 3,000 units Conversion costs, 3,000 units, 80% completed Materials added during April, 10,000 units Conversion costs during April Goods finished during April, 11,500 units April 30 work in process, 1,500 units, 60% completed 0 All direct materials are placed in process at the beginning of the process...
Calculator Mocha Company manufactures a single product by a continuous process, involving three production departments. The...
Calculator Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. Work in process at the beginning of the period for Department 1 was $75,000, and work in process at the end of the period totaled $60,000. The records indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000 $60,000,...
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...
P2-17R. Review Problem for Chapter 1 and 2 UltraLift Corp. manufactures chain hoists. The raw materials...
P2-17R. Review Problem for Chapter 1 and 2
UltraLift Corp. manufactures chain hoists. The raw materials
inventories on hand on October 1 were as follows:
The balances in the ledger accounts on October 1 were as
follows:
Transactions during October were as follows:
Payroll recorded during the month: direct labor, $28,000;
indirect labor, $4,800.
Indirect materials purchased for cash, $1,000.
Materials purchased on account: chain–4,000 lb, $8,800;
pulleys–2,000 sets, $10,200; steel plates–5,000 units, $3,000.
Sales on account for the month,...
1. Department F had 4,000 units in Work in Process that were 40% completed at the...
1. Department F had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $11,600. Of the $11,600, $7,600 was for material and $4,000 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $31,500. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of...
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 $ 6,000 43,500 63,300 2e, 100 Ending Inventory 1,250 $1,500 50,500 8,250 The following additional information describes the company's production activities for May Direct materials Raw materials purchased on credit Direct...
Calculator The following production data were taken from the records of the Finishing Department for June Inventory in process, June 1, 30% completed 4,000 units Completed units during June 65,000 units Ending Inventory, 60% completed 65,000 units The number of materials equivalent units of production in the June 30 Finishing Department inventory, assuming that the first in, first-out method is used to cost Inventories and materials were added at the beginning of the process, is Oa. 68,000 units Ob. 76,000...
1)
2)
3)
4)
5)
The debits to Work in Process-Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: $8,900 5,500 27,500 32,000 Materials cost, 3,000 units Conversion costs, 3,000 units, 80% completed Materials added during April, 10,000 units Conversion costs during April Goods finished during April, 11,500 units April 30 work in process, 1,500 units, 60% completed 0 All direct materials are placed in process at the beginning of the process...
Calculator Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. Work in process at the beginning of the period for Department 1 was $75,000, and work in process at the end of the period totaled $60,000. The records indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000 $60,000,...
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...
P2-17R. Review Problem for Chapter 1 and 2
UltraLift Corp. manufactures chain hoists. The raw materials
inventories on hand on October 1 were as follows:
The balances in the ledger accounts on October 1 were as
follows:
Transactions during October were as follows:
Payroll recorded during the month: direct labor, $28,000;
indirect labor, $4,800.
Indirect materials purchased for cash, $1,000.
Materials purchased on account: chain–4,000 lb, $8,800;
pulleys–2,000 sets, $10,200; steel plates–5,000 units, $3,000.
Sales on account for the month,...
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 $ 6,000 43,500 63,300 2e, 100 Ending Inventory 1,250 $1,500 50,500 8,250 The following additional information describes the company's production activities for May Direct materials Raw materials purchased on credit Direct...
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