2/ provide speci E17-17 Accounting for job costs arning Objective 2 Sloan Trailers' job cost records yielded the following information: c. COGS $16,100 Job Date Total Cost of Job No. Started Finished Sold at September 30 August September 16 September 17 $ 3,100 L August 29 September 21 September 26 13,000 September 3 October 11 October 13 006'9 4,400 C September 7 September 29 October 1 Use the dates in the table to identify the status of each job. Compute the following balances for Sloan: a. Work-in-Process Inventory at September 30 b. Finished Goods Inventory at September 30 c. Cost of Goods Sold for September

2/ provide speci E17-17 Accounting for job costs arning Objective 2 Sloan Trailers' job cost records yielded the following information: c. COGS $16,100 Job Date Total Cost of Job No. Started Finished Sold at September 30 August September 16 September 17 $ 3,100 L August 29 September 21 September 26 13,000 September 3 October 11 October 13 006'9 4,400 C September 7 September 29 October 1 Use the dates in the table to identify the status of each job. Compute the following balances for Sloan: a. Work-in-Process Inventory at September 30 b. Finished Goods Inventory at September 30 c. Cost of Goods Sold for September

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing Company: K Work in process inventory $0 Raw materials inventory Finished goods inventory $28,800 $40,200 (Click the icon to view additional data.) What is the work in process inventory balance on January 31? OA. $27,280 OB. $98,031 OC. $69,231 OD. $7280 CO
What is the balance work in process inventory at the end of the month
Required information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 12,500 16,100 7,400 34,750 19,800 21,800 26,200 7,200 12,600 27,000 14,750 4,940 41,500 58,000 296,220 26,000 13,600 Pepper Company $ 17,350 22,050 9,450 25,150 39,400 14,600 20, 200 8,000 15,750 43,000 14,320 3,750 60,500 46,000 388,450 18,700 21,950 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of…
Accounting records for Antoinette Designs (AD) for November show the following (each entry is the total of the actual entries for the account for the month): Account Titles Work-in-Process Inventory (Direct Labor) Wages Payable Direct Materials Inventory Accounts Payable Finished Goods Inventory Work-in-Process Inventory Cost of Goods Solda Finished Goods Inventory Debit 7,200 122,130 136,800 131,400 Credit 7,200 Required: a. What was the finished goods inventory balance on November 30? b. How much manufacturing overhead was applied for November? c. What was the manufacturing overhead rate for November? d. How much manufacturing overhead was incurred for November? e. What was the Work-in-Process Inventory on November 1? f. What was the Work-in-Process Inventory on November 30? 122,130 136,800 131,400 aThis entry does not include any over- or underapplied overhead. Over- or underapplied overhead is written off to Cost of Goods Sold once for the month. For November, the amount written…
the beginning of the Cutting process. The following information is available regarding its May inventories: Ending Inventory Beginning Inventory $ 6,000 43,500 63,300 20,100 The following additional information describes the company's production activities for May. Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching Direct labor Direct labor-Cutting Direct labor-Stitching Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs Factory Overhead Rates Cutting Stitching Sales View transaction list Journal entry worksheet < $ 256,000 Requirement General General Journal Ledger Raw Materials Prepare journal entries for the month of May's transactions. Note: Enter debits before credits. Dato May 31 Record entry $ 25,000 21,750 0 Trial Balance $ 15,600 62,400 (150% of direct…
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I need to finish with these three questions and need help please. Journalize the entries for costs transferred from Milling to Sifting and the costs transferred from Sifting to Packaging. 2. Determine the increase or decrease in the cost per equivalent unit from June to July for direct materials and conversion costs. 3.Discuss the uses of the cost of production report and the results of part (c).
e. What was the Work-in-Process f. What was the Work-in-Process Inventory on November 1? Inventory on November 30?
prepare a costs of good schedule
The following production data were taken from the records of the Finishing Department for June: Inventory in process, June 1 (37% completed) Completed units during June Ending Inventory (58% complete) 5,000 units 63,000 units 3,700 units What is the number of material 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? a. 66,700 units Ob. 61.700 units Oc. 3.700 units Od. 58,000 units
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