Data Section: Depreciation--equipment Direct labor Direct materials inventory, 1/1 Direct materials inventory, 12/31 Factory rent Finished goods, 1/1 Finished goods, 12/31 Indirect labor Indirect materials Purchases of direct materials Work in process, 1/1 Work in process, 12/31 Answer Section: Work in process, 1/1 Direct materials Direct materials inventory, 1/1 Add: Purchases of Materials Jackson Manufacturing Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31 Cost of direct materials available Less: Direct Material, 12/31 Cost of direct materials used Direct labor Manufacturing overhead: Factory rent Depreciation - Equipment Indirect Labor Indirect Material Total manufacturing costs incurred Total manufacturing costs Less: Work in Process, 12/31 Cost of goods manufactured Finished Goods, 1/1 $45,000 642,000 91,500 93,000 76,410 132,000 172,500 Cost of goods available for sale Less: Finished goods, 12/31 Cost of Goods Sold 37,500 26,250 645,180 30,300 28,665 91,500 FORMULA1 $0 FORMULA2 $76,410 FORMULA4 FORMULA5 FORMULA6 FORMULA3 642,000 0 30,300 FORMULA7 $0 FORMULA8 FORMULA9 FORMULA10 FORMULA11 172,500 FORMULA12

Data Section: Depreciation--equipment Direct labor Direct materials inventory, 1/1 Direct materials inventory, 12/31 Factory rent Finished goods, 1/1 Finished goods, 12/31 Indirect labor Indirect materials Purchases of direct materials Work in process, 1/1 Work in process, 12/31 Answer Section: Work in process, 1/1 Direct materials Direct materials inventory, 1/1 Add: Purchases of Materials Jackson Manufacturing Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31 Cost of direct materials available Less: Direct Material, 12/31 Cost of direct materials used Direct labor Manufacturing overhead: Factory rent Depreciation - Equipment Indirect Labor Indirect Material Total manufacturing costs incurred Total manufacturing costs Less: Work in Process, 12/31 Cost of goods manufactured Finished Goods, 1/1 $45,000 642,000 91,500 93,000 76,410 132,000 172,500 Cost of goods available for sale Less: Finished goods, 12/31 Cost of Goods Sold 37,500 26,250 645,180 30,300 28,665 91,500 FORMULA1 $0 FORMULA2 $76,410 FORMULA4 FORMULA5 FORMULA6 FORMULA3 642,000 0 30,300 FORMULA7 $0 FORMULA8 FORMULA9 FORMULA10 FORMULA11 172,500 FORMULA12

Name: this is an excel style worksheet Data Section:Depreciation--equipmentD
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: this is an excel style worksheet Data Section:Depreciation--equipmentDirect laborDirect materials inventory, 1/1Direct materials inventory, 12/31Factory rentFinished goods, 1/1Finished goods, 12/31Indirect laborIndirect materialsPurchases of direct m

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 11E: The charges to Work in ProcessAssembly Department for a period, together with information concerning...

See similar textbooks

Similar questions

Which of the following would be included in the journa record the requisition of indirect materials? O a. Debit to Work in process inventory O b. Debit to Finished Goods Inventory Oc. Debit to Manufacturing Overhead O d. Debit to Materials inventory
The entry to record the cost of raw materials placed in production is: a. Dr Work-In-Process; Cr Raw Materials Inventory b. Dr Raw Materials Inventory; Cr Accounts Payable or Cash c. Dr Manufacturing Overhead; Cr Raw Material Inventory d. Dr Work-In-Process; Cr Accounts Payable or Cash
Transferred-in goods are treated by the receiving department as a. units started for the period. b. a material added at the beginning of the process. c. a category of materials separate from conversion costs. d. All of these. e. None of these.
Which of the following is a conversion cost? raw materials direct materials administrative expenses factory depreciation expenses
Conversion costs include all of the following except: A. wages of production workers B. depreciation on factory equipment C. factory utilities D. direct materials purchased
Selected information from Hernandez Corporation shows the following: Prepare journal entries to record the following: raw material purchased direct labor incurred depreciation expense (hint: this is part of manufacturing overhead) raw materials used overhead applied on the basis of $0.50 per machine hour the transfer from department 1 to department 2
Selected information from Skylar Studios shows the following: Prepare journal entries to record the following: raw material purchased direct labor incurred depreciation expense (hint: this is part of manufacturing overhead) raw materials used overhead applied on the basis of $0.50 per machine hour the transfer from department 1 to department 2
Classify each of the following items of factory overhead as a(n) unit-level, batch-level, product-level, or facility-level cost. a. Insurance on the building b. Depreciation of building (straight-line method) c. Depreciation of machinery (units-of-production method) d. Polishing compounds e. Machine lubricants f. Wages of forklift driver g. Building rent h. Plant managers salary i. Product inspectors wages j. Product design costs
Which of the following is a prime cost? A. indirect materials B. direct labor C. administrative expenses D. factory depreciation expenses
The charges to Work in ProcessAssembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Determine the following: a. The number of units in work in process inventory at the end of the period b. Equivalent units of production for direct materials and conversion c. Costs per equivalent unit for direct materials and conversion d. Cost of the units started and completed during the period
Current Attempt in Progress When are costs of raw materials debited to Work in Process Inventory? O when the materials are ordered O when the materials are received O when the bill for the materials is paid O when the materials are put into production
Work in process (1/1) Direct materials Raw materials inventory (1/1) Add: Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) Direct materials used Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead Total manufacturing costs Total cost of work in process: Less: Work in process (12/31) Cost of goods manufactured Cost of Goods Manufactured Schedule 168,130 27,530 26,260 39,410 78,070 $183,200 143,740 $213,140 87,830 $541,930