Direct Materials Direct Labor Overhead Allocated Manufacturing Beginning WIP Added this month Total $ 50 225 $ 25 150 $ 80 500 $ 275 $ 175 $ 580 Date Accounts and Explanation Debit Credit a. Work-in-Process Inventory-Mixing 1,030 Raw Materias Inventory 275 Wages Payable Manufacturing Overhead Work-in-Process Inventory-Mixing 175 b. 580 2,280 Transfer Costs 1,250 Raw Materials Inventory Wages Payable Manufacturing Overhead Work-in-Process Inventory-Mixing 275 175 580 c. 875 Raw Materials Inventory 225 Wages Payable Manufacturing Overhead Work-in-Process Inventory-Mixing 150 500 d. 875 Raw Materials Inventory 225 Conversion Costs 650

Direct Materials Direct Labor Overhead Allocated Manufacturing Beginning WIP Added this month Total $ 50 225 $ 25 150 $ 80 500 $ 275 $ 175 $ 580 Date Accounts and Explanation Debit Credit a. Work-in-Process Inventory-Mixing 1,030 Raw Materias Inventory 275 Wages Payable Manufacturing Overhead Work-in-Process Inventory-Mixing 175 b. 580 2,280 Transfer Costs 1,250 Raw Materials Inventory Wages Payable Manufacturing Overhead Work-in-Process Inventory-Mixing 275 175 580 c. 875 Raw Materials Inventory 225 Wages Payable Manufacturing Overhead Work-in-Process Inventory-Mixing 150 500 d. 875 Raw Materials Inventory 225 Conversion Costs 650

Name: The Mixing Department incurred the following costs during the month:Wh
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: The Mixing Department incurred the following costs during the month:What is the journal entry to record the costs incurred during the month? DirectMaterialsDirectLaborOverhead AllocatedManufacturingBeginning WIPAdded this monthTotal$ 50225$ 25150$ 80

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Vishal
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
Determine the over or underapplied overhead for each department at the end of January.
Required: Prepare the cost of production report of Department B for the month of March assuming the following independent cases: a.) Loss occurred at the start of process; b.) Loss occurred during the process; c.) Loss occurred at the end of process.
During June at XYZ company, OMR 85,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled OMR 7,000. The journal entry to record the requisition from the storeroom would include a: a. credit to Manufacturing Overhead of OMR 7,000 O b. debit to Work in Process of OMR 85,000 O c. None of the given answer is correct O d. debit to Work in Process of OMR 78,000 O e. debit to Raw Materials of OMR 85,000
1. Enter the balance as of September 1 in a four-column account for Work in Process-Rolling. Record the debits and the credits in the account for September. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion, (b) costs per equivalent unit, (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in September, and (d) work in process inventory. If an amount box does not require an entry, leave it blank. ACCOUNT Work in Process-Rolling Department ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Sept. 1 Bal., 1,200 units, 60% completed Sept. 30 Smelting Dept., 27,000 units at $3.7 Sept. 30 Direct labor Sept. 30 Factory overhead Sept. 30 Finished goods Sept. 30 Bal., 3,500 units, 20% completed
a. Determine the number of units transferred to the next department. b. Determine the costs per equivalent unit of direct materials and conversion. If required, round your answer to two decimal places. Cost per equivalent unit of direct materials Cost per equivalent unit of direct materials c. Determine the cost of units started and completed in November.
Use the following information to calculate the cost of goods manufactured during July. Work in process inventory, 1 July Manufacturing overhead applied during the month Work in process inventory, 31 July Finished goods inventory, 1 July Finished goods inventory, 31 July Cost of goods sold during July 9,000 20,000 14,000 7,500 5,000 75,000
Percent Completed Units Mixing Materials Conversion Work in process inventory, September 1 Work in process inventory, September 30 4 100% 60% 50% 4 100% 20% 10% Mixing Materials Conversion Work in process inventory, September 1 Cost added during September $ 9,456 $ 108 $ 1,828 $ 229,154 $ 23,766 $ 143,449
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year. 2. Prepare a schedule of cost of goods manufactured for the year. Complete this question by entering your answers in the tabs below. The company uses a predetermined overhead rate of $24 per machine-hour to apply overhead cost to jobs. A total of 21,200 machine- hours were used during the year. Required 1 Required 2 Compute the amount of underapplied or overapplied overhead cost…
The predetermined overhead allocation rate for a given accounting period is calculated ________ Group of answer choices before the accounting period begins before the commencement of each job during the accounting period at the end of the accounting period after the completion of each job during the accounting period
X Company manufactures cakes in two departments: Mixing and Packaging. The company uses a process cost accounting system. All materials are entered at the beginning of each process. During April 2020, the following transactions were completed: Assigned raw materials of $60,000 and $50,000 to Work in Process Mixing and Packaging respectively. Factory labor costs of $20,000 and $40,000 were assigned to Work in Process Mixing and Packaging respectively. The company applied manufacturing overhead on the basis of $15 per machine hour. Machine hours used were 1,000 in Mixing and 2,000 in Packaging. During April, the company transferred units costing S80,000 from Mixing to Packaging. In addition, it trans ferred units costing $160,000 from Packaging to Finished Goods.