Answer Pleaser The Peric Manufacturing Shop produces motorcycle parts. Typically, 12 pieces out of a job lot of 1,000 parts are spoiled. Costs are assigned at the inspection point, $40.00 per unit. Spoiled pieces may be disposed at $8.00 per unit. The spoiled goods must be inventoried appropriately when the normal spoilage is detected. The current job requires the production of 3,000 good parts. Which of the following journal entries would be correct if the spoilage occurred due to specifications required for Job 101? a. Dr. Work-in-Process Control 96; Cr. Materials Control 96 b. Dr. Materials Control 288; Cr. Work-in-Process Control 288 c. Dr. Work-in-Process Control 288; Cr. Materials Control 288 d. Dr. Materials Control 96; Cr. Work-in-Process Control 96

Answer Pleaser The Peric Manufacturing Shop produces motorcycle parts. Typically, 12 pieces out of a job lot of 1,000 parts are spoiled. Costs are assigned at the inspection point, $40.00 per unit. Spoiled pieces may be disposed at $8.00 per unit. The spoiled goods must be inventoried appropriately when the normal spoilage is detected. The current job requires the production of 3,000 good parts. Which of the following journal entries would be correct if the spoilage occurred due to specifications required for Job 101? a. Dr. Work-in-Process Control 96; Cr. Materials Control 96 b. Dr. Materials Control 288; Cr. Work-in-Process Control 288 c. Dr. Work-in-Process Control 288; Cr. Materials Control 288 d. Dr. Materials Control 96; Cr. Work-in-Process Control 96

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter2: Accounting For Materials

Section: Chapter Questions

Problem 15P: One of the tennis rackets that Ace Sporting Goods manufactures is a titanium model (Slam) that sells...

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Paradise Bay Cart Shop is a manufacturer of golf carts. Peter Cranston, the plant manager of Paradise Bay Cart, obtains the following information for Job # 22 in August 2020. A total of 40 units were started, and 8 spoiled units were detected and rejected at final inspection, yielding 32 good units. The spoiled units were considered to be normal spoilage. Costs assigned prior to the inspection point are $1,100 per unit. The current disposal price of the spoiled units is $200 per unit. When the spoilage is detected, the spoiled goods are inventoried at $200 per unit. Read the requirements. Requirement 1. What is the normal spoilage rate? Select the formula, then calculate the normal spoilage rate. (Round the percentage to the nearest tenth percent, X.X%.) = Normal spoilage rate % b. The spoilage Requirement 2. Prepare the journal entries to record the normal spoilage, assuming the following: a. The spoilage is related to a specific job. b. The spoilage is common to all jobs. c. The…
Paradise Bay Shop is a manufacturer of golf carts. Peter Cranston, the plant manager of Paradise Bay, obtains the following information for Job # 22 in August 2020. A total of 23 units were started, and 3 spoiled units were detected and rejected at final inspection, yielding 20 good units. The spoiled units were considered to be normal spoilage. Costs assigned prior to the inspection point are $1,300 per unit. Assume that Job #22 of Paradise Bay Shop generates scrap with a total sales value of $400 (it is assumed that scrap returned to the storeroom is sold quickly). Read the requirements. Prepare the journal entries for the recognition of scrap, assuming the following: (Record debits first, then credits. Exclude explanations from any journal entries.) a. The value of scrap is immaterial and scrap is recognized at the time of sale. Journal Entry Accounts Debit (...) Credit Requirements Prepare journal entries for the recognition of scrap, assuming the following: The value of scrap is…
I need requirement A-C please.
Paradise Bay Shop is a manufacturer of golf carts. Peter Cranston, the plant manager of Paradise Bay, obtains the following information for Job # 22 in August 2020. A total of 23 units were started, and 3 spoiled units were detected and rejected at final inspection, yielding 20 good units. The spoiled units were considered to be normal spoilage. Costs assigned prior to the inspection point are $1,300 per unit. The current disposal price of the spoiled units is $215 per unit. When the spoilage is detected, the spoiled goods are inventoried at $215 per unit. Read the requirements. Requirement 1. What is the normal spoilage rate? Select the formula, then calculate the normal spoilage rate. (Round the percentage to the nearest tenth percent, X.X%.) + = Normal spoilage rate % Requirements 1. What is the normal spoilage rate? 2. Prepare the journal entries to record the normal spoilage, assuming the following: The spoilage is related to a specific job. a. b. The spoilage is common to all…
I need requirement B-D please.
Southwest toys manufacturers gloves at its San Francisco facility. The company uses job costing and provides you with the following information regarding operations for April 2020: Data table Total globes manufactured 35000 Globes rejected as spoiled units 850 Total manufacturing costs $700000 Requirements 4. If the spoilage is considered abnormal, prepare the journal entries for the spoilage incurred. Data Table Total globes manufactured 35,000 Globes rejected as spoiled units 850 Total manufacturing cost $700,000 ************************only need ansrew to #4***********************************
Paradise Bay Shop is a manufacturer of golf carts. Peter Cranston, the plant manager of Paradise Bay, obtains the following information for Job #22 in August 2020. A total of 23 units were started, and 3 spoiled units were detected and rejected at final inspection, yielding 20 good units. The spoiled units were considered to be normal spoilage. Costs assigned prior to the inspection point are $1,300 per unit. Assume that the 3 spoiled units of Paradise Bay Shop's Job #22 can be reworked for a total cost of $2,200. A total cost of $3,900 associated with these units has already been assigned to Job #22 before the rework. Requirements: Prepare the journal entries for the rework, assuming the following: a. The rework is related to a specific job. b. The rework is common to all jobs. c. The rework is considered to be abnormal.
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Jellyfish Machine Shop is a manufacturer of motorized carts for vacation resorts. Patrick Cullin, the plant manager of Jellyfish, obtains the following information for Job #10 in August 2017. A total of 46 units were started, and 6 spoiled units were detected and rejected at final inspection, yielding 40 good units. The spoiled units were considered to be normal spoilage. Costs assigned prior to the inspection point are $1,100 per unit. The current disposal price of the spoiled units is $235 per unit. When the spoilage is detected, the spoiled goods are inventoried at $235 per unit. . Assume that Job #10 of Jellyfish Machine Shop generates normal scrap with a total sales value of $700 (it is assumed that the scrap returned to the storeroom is sold quickly). Prepare the journal entries for the recognition of scrap, assuming The value of scrap is material, and scrap is recognized as inventory at the time of production and is recorded at its net realizable value
Jellyfish Machine Shop is a manufacturer of motorized carts for vacation resorts. Patrick Cullin, the plant manager of Jellyfish, obtains the following information for Job #10 in August 2017. A total of 46 units were started, and 6 spoiled units were detected and rejected at final inspection, yielding 40 good units. The spoiled units were considered to be normal spoilage. Costs assigned prior to the inspection point are $1,100 per unit. The current disposal price of the spoiled units is $235 per unit. When the spoilage is detected, the spoiled goods are inventoried at $235 per unit. Q. Prepare the journal entries to record the normal spoilage, assuming the following: a. The spoilage is related to a specific job. b. The spoilage is common to all jobs. c. The spoilage is considered to be abnormal spoilage