Homework Answers
Answer
22.
Option D is correct as Entry will be
Work in progress (Dr.)
Raw Material Inventory (Cr.)
23.
Your answer is correct as it is not necessary.
Dear Student, if u have any query please feel free to reach me.
Add Answer to:
Question 22 4 pts The floor supervisor for the manufacturing division of Appep Products, Inc., a...
Question 20 3 pts A materials requisition slip showed that materials requisitioned for Job 105 were...
Question 20 3 pts A materials requisition slip showed that materials requisitioned for Job 105 were $78,000 and materials for general use requisitioned were $15,000. The entry to record the transfer of materials from the storeroom to production is O "Debit" Finished Goods Inventory $93,000 and "Credit" Raw Materials Inventory $93,000 O "Debit" Finished Goods Inventory $78,000, "Debit" Manufacturing Overhead $15,000 and "Credit" Work-in-Process Inventory $93,000 O "Debit" Work-in-Process Inventory $78,000, "Debit" Manufacturing Overhead $15,000 and "Credit" Raw Materials Inventory...
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...
A company that uses a job order costing system would make the following entry to record...
A company that uses a job order costing system would make the following entry to record the flow of direct materials into production: Multiple Choice o o debit Work in Process Inventory, credit Cost of Goods Sold. debit Work in Process Inventory, credit Factory Overhead. o debit Finished Goods Inventory, credit Raw Materials Inventory. o debit Factory Overhead, credit Raw Materials Inventory. O debit Work in Process Inventory, credit Raw Materials Inventory.
Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $198,000 of raw...
Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 we indirect. Minstrel incurred a factory payroll of $150,000, paid in cash, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the purchase of materials is: o Debit Raw Materials Inventory $198,000; credit Accounts Payable $198,000. o Debit...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the issuance of materials to production is: Multiple Choice Debit Raw Materials Inventory $195,000; credit Accounts Payable $195,000. Debit Work...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the išsuance of materials to production is: Multiple Choice Debit Work in Process Inventory $195,000; credit Row Materials Inventory $195,000....
The journal entry to close manufacturing overhead would include a Here is selected data for Lori...
The journal entry to close manufacturing overhead would
include a
Here is selected data for Lori Corporation: Cost of raw material purchased Cost of requisitioned direct materials Cost of requisitioned indirect materials Direct labor Manufacturing overhead incurred Cost of goods completed Cost of goods sold Beginning raw materials inventory Beginning work in process inventory Beginning finished goods inventory Manufacturing overhead allocation rate (based on direct $77,000 43,200 3,400 80,300 90,000 233,500 142,600 17,200 32,400 35,700 120% O A. credit to...
In a job-order costing system, indirect labor cost is usually recorded as a debit to: Multiple...
In a job-order costing system, indirect labor cost is usually recorded as a debit to: Multiple Choice Cost of Goods Sold. Manufacturing Overhead. ООО Work in Process. Finished Goods. On December 1, Mogro Corporation had $26,000 of raw materials on hand. During the month, the Corporation purchased an additional $60,000 of raw materials. During December, $62,000 of raw materials were requisitioned from the storeroom for use in production. The debits entered in the Raw Materials account during the month of...
28 Which of the following are the two main types of cost accounting systems for manufacturing...
28 Which of the following are the two main types of cost accounting systems for manufacturing operations? a process cost and general accounting systems b. job order cost and process cost systems c. job order and general accounting systems d. process cost and replacement cost systems 29. For which of the following businesses would the job order cost system be appropriate a. canned soup processor b. oil refinery c. lumber mill d. hospital 30. For which of the following businesses...
Can someone please help with this problem? Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer,...
Can someone please help with this problem?
Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, OCFF had two jobs in process with the following costs: Work in Process Job 33 Job 34 Balance on 3/1 $ 4,800 5,000 $9,800 Source documents revealed the following during March: Materials Requisitions Labor Time Forms Tickets Status of Job at Month-End Job 33 $ 3,300 $5,300 Completed and...
Question 20 3 pts A materials requisition slip showed that materials requisitioned for Job 105 were $78,000 and materials for general use requisitioned were $15,000. The entry to record the transfer of materials from the storeroom to production is O "Debit" Finished Goods Inventory $93,000 and "Credit" Raw Materials Inventory $93,000 O "Debit" Finished Goods Inventory $78,000, "Debit" Manufacturing Overhead $15,000 and "Credit" Work-in-Process Inventory $93,000 O "Debit" Work-in-Process Inventory $78,000, "Debit" Manufacturing Overhead $15,000 and "Credit" Raw Materials Inventory...
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...
A company that uses a job order costing system would make the following entry to record the flow of direct materials into production: Multiple Choice o o debit Work in Process Inventory, credit Cost of Goods Sold. debit Work in Process Inventory, credit Factory Overhead. o debit Finished Goods Inventory, credit Raw Materials Inventory. o debit Factory Overhead, credit Raw Materials Inventory. O debit Work in Process Inventory, credit Raw Materials Inventory.
Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 we indirect. Minstrel incurred a factory payroll of $150,000, paid in cash, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the purchase of materials is: o Debit Raw Materials Inventory $198,000; credit Accounts Payable $198,000. o Debit...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the išsuance of materials to production is: Multiple Choice Debit Work in Process Inventory $195,000; credit Row Materials Inventory $195,000....
The journal entry to close manufacturing overhead would
include a
Here is selected data for Lori Corporation: Cost of raw material purchased Cost of requisitioned direct materials Cost of requisitioned indirect materials Direct labor Manufacturing overhead incurred Cost of goods completed Cost of goods sold Beginning raw materials inventory Beginning work in process inventory Beginning finished goods inventory Manufacturing overhead allocation rate (based on direct $77,000 43,200 3,400 80,300 90,000 233,500 142,600 17,200 32,400 35,700 120% O A. credit to...
In a job-order costing system, indirect labor cost is usually recorded as a debit to: Multiple Choice Cost of Goods Sold. Manufacturing Overhead. ООО Work in Process. Finished Goods. On December 1, Mogro Corporation had $26,000 of raw materials on hand. During the month, the Corporation purchased an additional $60,000 of raw materials. During December, $62,000 of raw materials were requisitioned from the storeroom for use in production. The debits entered in the Raw Materials account during the month of...
28 Which of the following are the two main types of cost accounting systems for manufacturing operations? a process cost and general accounting systems b. job order cost and process cost systems c. job order and general accounting systems d. process cost and replacement cost systems 29. For which of the following businesses would the job order cost system be appropriate a. canned soup processor b. oil refinery c. lumber mill d. hospital 30. For which of the following businesses...
Can someone please help with this problem?
Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, OCFF had two jobs in process with the following costs: Work in Process Job 33 Job 34 Balance on 3/1 $ 4,800 5,000 $9,800 Source documents revealed the following during March: Materials Requisitions Labor Time Forms Tickets Status of Job at Month-End Job 33 $ 3,300 $5,300 Completed and...
Most questions answered within 3 hours.
-
Your division head has assigned another important project to you
and your team. This project is...
asked 1 minute ago -
Under normal use conditions, the Mean Time To Failure of a
heating coil can be modeled...
asked 1 hour ago -
Consider the probability that fewer than 34 out of 116 CDs will
be defective. Assume the...
asked 16 minutes ago -
4J Manufacturing Company uses a job order cost accounting system
and keeps perpetual inventory records. Prepare...
asked 5 minutes ago -
Please write code in C++
using recursive function
Write a program that computes the sequence of...
asked 3 minutes ago -
What is 345 as an unsigned decimal number? It is 34
with subscript of 5. Not...
asked 20 minutes ago -
I've been struggling with these homework questions. Any help
would be greatly appreciated
1. For the...
asked 17 minutes ago -
Read the In-Depth Integrative Case 1.2 (Pharmaceutical
Companies, Intellectual Property, and the Global AIDS Epidemic) in...
asked 17 minutes ago -
Consider a mass-spring system. The spring has a spring constant
of 2.27e+3 N/m. On the end...
asked 22 minutes ago -
People are most likely to believe their ancestors play an active
role in their lives in...
asked 1 hour ago -
A student holds a ruler by one end (x=0 where the student holds
it). The student...
asked 1 hour ago -
A 3.1-kΩ and a 2.2-kΩ resistor are connected in parallel; this
combination is connected in series...
asked 27 minutes ago