provide correct solution this account questions A partial listing of costs incurred at PennsylvaniaCorporation during September appears below:Direct materials$ 1,99,000Utilities, factory$ 11,000Administrative salaries$ 83,000Indirect labor$ 29,000Sales commissions$ 37,000Depreciation of production equipment$31,000Depreciation of administrative equipment$ 44,000$ 81,000$ 1,54,000Direct laborAdvertisingThe total of the product costs listed above forSeptember is:A. $351,000B. $669,000C. $71,000D. $318,000

Step 1: Treatment of each itemDirect Materials: It is a production expense and hence included in…

Answered: A partial listing of costs incurred at…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 14EA: A production department within a company received materials of $10,000 and conversion costs of...

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In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is 3,000,000. The conversion cost for the period in the Rolling Department is 462,600 (275,000 factory overhead applied and 187,600 direct labor). The total cost transferred to Finished Goods for the period was 3,392,400. The Rolling Department had a beginning inventory of 163,800. a. Journalize for the Rolling Department (1) the cost of transferred-in materials, (2) the conversion costs, and (3) the costs transferred out to Finished Goods. b. Determine the balance of Work in ProcessRolling at the end of the period.
The cost of direct materials transferred into the Rolling Department of Kraus Company is 3,000,000. The conversion cost for the period in the Rolling Department is 462,600. The total equivalent units for direct materials and conversion are 4,000 tons and 3,855 tons, respectively. Determine the direct materials and conversion costs per equivalent unit.
During March, the following costs were charged to the manufacturing department: $22,500 for materials; $45,625 for labor; and $50,000 for manufacturing overhead. The records show that 40,000 units were completed and transferred, while 10,000 remained in ending inventory. There were 45,000 equivalent units of material and 42,500 units of conversion costs. Using the weighted-average method, prepare the companys process cost summary for the month.
The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units one-fourth completed at a cost of 2,500 for materials, 1,400 for labor, and 1,800 for overhead. Production costs for the monthmaterials, 130,000; labor, 70,000; and factory overhead, 82,000. Units completed and transferred to stock45,000. Work in process, end of month5,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost. (Round unit costs to three decimal places.)
The following costs were incurred by ABC Company: Direct labor $ 950,000 Direct material purchases 645,000 Depreciation on plant 55,000 Factory supervisor's salary 98,000 Plant maintenance 26,000 Plant utilities 30,000 Sales 2,555,000 Selling and administrative expenses 480,000 Beginning direct materials inventory 72,000 Beginning work-in-process inventory 54,000 Beginning finished goods inventory 75,000 Ending direct materials inventory 68,000 Ending work-in-process inventory 51,000 Ending finished goods inventory 88,000 Required: Calculate the following values: Direct materials used Cost…
During the past month, the following costs were incurred in the three production departments and two service departments of Kim & Co.: Supplying Department Administration Factory support Direct cost From: Service department costs Administration Factory support Total allocations Administration Direct costs Total costs 0.10 $ 640,000 Using Department Factory Support Fabrication 0.40 0.30 0.20 $1,720,000 $1,330,000 Required: Allocate service department costs to Fabrication, Assembly, and Finishing using the reciprocal method, and determine the total costs of Fabrication, Assembly, and Finishing after this allocation. (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amounts.) Assembly 0.20 0.20 $284,000 Administration Factory Support Finishing 0.10 0.50 $254,000 Cost Allocation To: Fabrication Assembly Finishing
Journalize the following transactions: Materials used in production, $40,000 Paid plant supervisor’s salary, $6,000 Plant depreciation, $10,000 Production labor costs incurred, $80,000 MOH is allocated at the rate of 120% of direct labor costs Cost of goods manufactured, $200,000 Revenue on account, $450,000 Cost of goods sold, $300,000 Paid advertising costs, $90,000
At the end of the year, the Comptroller accumulated the total actual costs and hours incurred by Department A and Department B during the year for the company. Using the information provided below, calculate the final overhead rates for both departments. Plant Total Department B Department A $25,000 $362,000 $337,000 Direct Material Cost $99,000 $459,400 $360,400 Direct Labor Cost $495,000 $794,000 $299,000 Department Overhead Cost 43,000 9,000 34,000 Direct Labor Hours 42,000 41,000 1,000 Machine Hours per direct labor hour Department A: Department B per machine hour
Accounting
A product passes through two process A and B in the manufacturing process. The information related to the input and output for each process is given below: 9,500 units were issued in Process A at a cost of $10 per unit. Process A Process B Material added $29,000 $27,420 Direct Labour $13,000 $11,820 Overheads $9,775 $9,000 Normal loss 5% 4% Normal loss scrap value $5 per unit $6 per unit Output 9000 units 8700 units From the information given above show the recordings in the: Process A account, show all working Process B account, show all working
The company;s Accounting department reports the following costs of producing 16,000 units of the wheels internally each year: 16,000 Per unit units Direct materials 12 192,000.00 direct labor 8 128,000.00 Variable overheads 2 32,000.00 supervisor's salary 6 96,000.00 Depreciation of special equipment 4 64,000.00 Allocated General overhead 10 160,000.00 total cost 42 672,000.00 an outside supplier has offered to sell 16,000 wheels a year to toronto cycles for a price of $38 each, or a total of $608,000 (= 16,000 wheels x $38 each). Special equipment's used in production was bought 5 years…
Refer to the information given. For each of the activity cost pools identified,indicate whether it represents a unit-level, batch-level, product-sustaining-level, or facility-level activity.

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