X When we purchase direct material and indirect material, we know that both purchase transactions are...
X
When we purchase direct material and indirect material, we know that both purchase transactions are debits to the Raw Material Inventory.
When we issue these material to the manufacturing floor, both direct and indirect material, these are credits to the Raw Material Inventory.
In those journal entries for the material issued, what accounts are debited? Here’s a clue, they are not the same for each material type.
Type the journal entry for each and label your work.
If you have questions, please let me know.
Homework Answers
The journal entry when direct materials are issued into production
| Work in Process Inventory | Debit | |
| Raw materials inventory | Credit |
The entry when indirect materials are issued into production
| Manufacturing overhead | Debit | |
| Raw materials inventory | Credit |
Add Answer to:
X
When we purchase direct material and indirect material, we know
that both purchase transactions are...
in a job order costing system, raw material requisitioned as direct materials are debited to________; indirect...
in a job order costing system, raw material requisitioned as direct
materials are debited to________; indirect materials are debited
to_______.
$139.000. Save Question 24 (2 points) s 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, paid in cash, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of...
The following transactions were incurred by Dimasi Industries during January 2010...continues
The following transactions were incurred by Dimasi Industries during January 2010:1. Issued $800,000 of direct material to production2. Paid 40,000 hours of direct labor at $18 per hour3. Accrued 15,500 hours of indirect labor cost at $15 per hour4. Recorded $102,100 of depreciation on factory assets5. Accrued $32,800 of supervisors' salaries6. Issued $25,400 of indirect material to production7. Completed goods costing $1,749,300 and transferred them to finished goods.A. Prepare journal entries for these transactions using a single overhead account for...
Record the purchase of material Record the transfer of materials to production Record the cost of...
Record the purchase of material
Record the transfer of materials to production
Record the cost of labor
Record the application of manufacturing overhead
During its first month of operation, Portia Company purchased S94,000 of materials on account and requisitioned $68,000 of materials for use in production. The company recorded $34,000 of direct labor cost and applied $24,000 of manufacturing overhead. Prepare Portia's journal entries to record these events. (If no entry is required for a transaction/event, select "No Journal Entry...
Prepare journal entries for the month of April to record the above transactions Required information [The...
Prepare journal entries for the month of April to record the above
transactions
Required information [The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $22,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of direct...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $209,000. b. Raw materials used in production, $189,000 ($151,200 direct materials and $37,800 indirect materials). C. Accrued direct labor cost of $48,000 and indirect labor cost of $20,000. d. Depreciation recorded on factory equipment, $106,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $10 per...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $210,000. b. Raw materials used in production, $190,000 ($152,000 direct materials and $38,000 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $22,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $5 per...
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...
Juuditze uie clues ICldunny Minun ru Begin by journalizing the entry for the purchase of materials...
Juuditze uie clues ICldunny Minun ru Begin by journalizing the entry for the purchase of materials on account Date Accounts Debit Accounts Payable Accounts Receivable Cash Cost of Goods Sold Finished Goods Inventory Manufacturing Overhead Raw Materials Inventory Sales Revenue Wages Payable Work-in-Process Inventory Choose from any list or enter any number in the input fields and then click Check Answer Uute TUDIC 49,000 40,600 Purchases of materials, on account Materials requisitions: Direct materials Indirect materials Labor incurred (not yet...
The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw...
The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materials purchased on account, $209,000 b. Raw materials used in production, $192,000 ($153,600 direct materials and $38,400 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $106.000. e. Other manufacturing overhead costs accrued during October, $129,000 1 The company applies manufacturing overhead cost to production using a predetermined rate of $9 per...
please answer both questions More Info a. Incurred and paid Web site expenses, $2,300. b. Incurred...
please answer both questions
More Info a. Incurred and paid Web site expenses, $2,300. b. Incurred manufacturing wages of $10,000, 65% of which was direct labor and 35% of which was indirect labor. c. Purchased raw materials on account, $19,000 d. Used in production: direct materials, $8,000; indirect materials, $3,500 e. Recorded manufacturing overhead: depreciation on plant, $17,000; plant insurance (previously paid), $1,600; plant property tax, $3,700 (credit Property Tax Payable) f. Allocated manufacturing overhead to jobs, 150% of direct...
in a job order costing system, raw material requisitioned as direct
materials are debited to________; indirect materials are debited
to_______.
$139.000. Save Question 24 (2 points) s 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, paid in cash, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of...
Record the purchase of material
Record the transfer of materials to production
Record the cost of labor
Record the application of manufacturing overhead
During its first month of operation, Portia Company purchased S94,000 of materials on account and requisitioned $68,000 of materials for use in production. The company recorded $34,000 of direct labor cost and applied $24,000 of manufacturing overhead. Prepare Portia's journal entries to record these events. (If no entry is required for a transaction/event, select "No Journal Entry...
Prepare journal entries for the month of April to record the above
transactions
Required information [The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $22,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of direct...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $209,000. b. Raw materials used in production, $189,000 ($151,200 direct materials and $37,800 indirect materials). C. Accrued direct labor cost of $48,000 and indirect labor cost of $20,000. d. Depreciation recorded on factory equipment, $106,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $10 per...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $210,000. b. Raw materials used in production, $190,000 ($152,000 direct materials and $38,000 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $22,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $5 per...
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...
Juuditze uie clues ICldunny Minun ru Begin by journalizing the entry for the purchase of materials on account Date Accounts Debit Accounts Payable Accounts Receivable Cash Cost of Goods Sold Finished Goods Inventory Manufacturing Overhead Raw Materials Inventory Sales Revenue Wages Payable Work-in-Process Inventory Choose from any list or enter any number in the input fields and then click Check Answer Uute TUDIC 49,000 40,600 Purchases of materials, on account Materials requisitions: Direct materials Indirect materials Labor incurred (not yet...
The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materials purchased on account, $209,000 b. Raw materials used in production, $192,000 ($153,600 direct materials and $38,400 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $106.000. e. Other manufacturing overhead costs accrued during October, $129,000 1 The company applies manufacturing overhead cost to production using a predetermined rate of $9 per...
please answer both questions
More Info a. Incurred and paid Web site expenses, $2,300. b. Incurred manufacturing wages of $10,000, 65% of which was direct labor and 35% of which was indirect labor. c. Purchased raw materials on account, $19,000 d. Used in production: direct materials, $8,000; indirect materials, $3,500 e. Recorded manufacturing overhead: depreciation on plant, $17,000; plant insurance (previously paid), $1,600; plant property tax, $3,700 (credit Property Tax Payable) f. Allocated manufacturing overhead to jobs, 150% of direct...
Most questions answered within 3 hours.
-
Regarding language development, which of the following
statements is FALSE?
Babies are able to cry from...
asked 12 seconds from now -
A machine shop owner wishes to assign each of three machinists
(labeled 1, 2, and 3)...
asked 22 seconds ago -
Slow 'n Steady, Inc., has a stock price of $30, will pay a
dividend next year...
asked 1 minute ago -
PLEASE SHOW MATH CALCULATION(formulas)it has to be done on excel
P12-4 Last year (2016), Richter Condos...
asked 5 minutes ago -
A 0.25μF capacitor is charged to 50 V . It is then connected in
series with...
asked 22 minutes ago -
Calculate the current, I, through the batteries for:
- a 2-bulb parallel circuit
- How does...
asked 23 minutes ago -
Choose the sentence that uses correct punctuation.
1a. The prefatory parts of a report include the...
asked 29 minutes ago -
For the element arsenic, which one of the following sets of
quantum numbers could not apply...
asked 39 minutes ago -
Compare and contrast the architectures of 3 types of ADCs:
Flash, SAR, and pipelined. Use the...
asked 40 minutes ago -
Given P(A) = 0.40, P(B) = 0.50, P(A ∩ B) = 0.15. Which of the
following...
asked 44 minutes ago -
Explain changes in workforce participation for women with
children. What legislation exists related to work and...
asked 46 minutes ago -
How high must a pointed arch be if it is to span a
space 4.2 m...
asked 51 minutes ago