None Homework 1-Cost ConceptsSaved3Determine the missing amount for each separate situation involving manufacturing cost flows.4.5points(1)(2)(3)Direct materials used$151,880 $35,290Direct labor used76,40047,120Factory overhead123,40034,24061,675eBookTotal manufacturing costs244,900240,100Work in process inventory, beginning58,3209,645Total cost of work in process292,125PrintWork in process inventory, ending23,94512,650Cost of goods manufactured266,820ReferencesHelp Save & Exit SubmitCheck my work

Step 1:Compute the missing information from the tableCase 1:Total manufacturing costs = Direct…

Answered: Homework 1-Cost Concepts Saved 3…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 10MC: Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the...

See similar textbooks

Similar questions

A. Total manufacturing cost? B. Work in Process, 01/01/x1? C. Work in Process, 12/31/x1?
Unit V question 1
Unit V question 3
O MyPath Home Content O Managerial Accounting, Fifteenth x My Questions | bartleby х O File | C:/Users/pse/Documents/managerial-accounting-15th-edition.pdf Managerial Accounting, Fifteenth Edition 204 / 795 Required: 1. Compute the cost per equivalent unit for materials, for labor, and for overhead. 2. Compute the total cost per equivalent whole unit. EXERCISE 4-4 Applying Costs to Units-Weighted-Average Method [LO4–4] Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Materials Conversion Equivalent units of production in ending work in process Cost per equivalent unit 2,000 $13.86 800 $4.43 A total of 20,100 units were completed and transferred to the next processing department during the period. Required: Compute the cost of the units transferred to the next department during the period and the cost of ending work in process inventory. EXERCISE 4-5 Cost Reconciliation…
Exercise 2: Flow of Cost - Cost System You are required to compute for the unknowns in the following accounts: Materials Inventory 7,950 Purchase Returns 750 Purchases 27,500 Direct Materials ? Indirect Materials (e) Inventory, end 5,100 Work in Process Inventory 13,650 Cost of Goods Sold Completed (c) Direct Materials Cost 23,500 Direct Labor Cost (a) Factory Overhead Applied (100% of direct labor cost) (b) Inventory 11,750 62,150 Finished Goods Inventory 12,500 Cost of Goods Sold (d) Cost of Goods Sold Completed ? Inventory, end 11,250
How do I complete this table?
napters 1,2, & 2 Beginning WIP Direct materials Direct labor Applied overhead The Work in Process Inventory account for DG Manufacturing follows. Compute the cost of jobs completed and transferred to Finished Goods Inventory. To finished goods Ending WIP # "* 3 Multiple Choice ✔ J The cost of jobs transferred to finished goods is: E D Debit $91,700. $102,400. $ 4 101 R תו F % 1/ Work in Process Inventory 5 6,300 48,900 T A 31,400 17,600 12,500 16 A 40 6 Y D G H & 4- Q Search 7 ) O O L fu AAI P 112 + [ ins prt sc 4 Help 1 delete backspa
a b. C d. e. f 9. h 1. k Raw Materials Inventory 50,000 29,500 11,800 8,700 Work in Process Inventory 29,500 88,500 132,750 49,750 40,000 201,000 Finished Goods Inventory 201,000 161,000 Factory Wages Payable 137,500 0 Factory Overhead 11,800 49,000 74,950 3,000 Required: Enter a valid formula to compute the amount for each of the following. Direct materials used Indirect materials used Direct labor used Indirect labor used Cost of goods manufactured Cost of goods sold (before closing over-or underapplied overhead) Actual overhead incurred Overhead applied The amount of over-or underapplied overhead Use dropdown button to indicate whether overhead is over- or underapplied. Cost of goods sold (after closing over-or underapplied overhead) 88,500 49,000 132,750
Please do not give solution in image format thanku
16. LO 5.5 The journal entry to record the $500 of work in process ending inventory that consists of $300 of direct materials, $50 of manufacturing overhead, and $150 od direct labor is which of the following? А. Work in Process Inventory Accounts Payable 500 500 (When added to the process) В. Work in Process Inventory Materials Inventory Wages Payable Manufacturing Overhead 500 300 150 50 (As incurred or applied) С. Cost of Goods Sold 500 Work in Process Inventory 500 (When transferred) D. Accounts Payable Work in Process Inventory 500 500 (When added to the process)
Question Content Area Compute conversion costs given the following data: direct materials, $376,200; direct labor, $200,400; factory overhead, $179,400 and selling expenses, $48,400. a. $555,600 b. $131,000 c. $756,000 d. $379,800
The following events occurred during March for Ajax Company. A. Materials were purchased on account for $35,427. B. Materials were requisitioned to begin work on Job C15 in the amount of $25,260. C. Direct labor expense for Job C15 was $24,127. D. Actual overhead was incurred on account of $32,851. E. Factory overhead was charged to Job C15 at the rate of 200% of direct labor. F. Job C15 was transferred to finished goods at $97,641. G. Job C15 was sold on account for $399,000. Prepare a journal entry for each transaction. If an amount box does not require an entry, leave it blank. A. Raw Materials Inventory 35,427 Accounts Payable 35,427 В. Work in Process Inventory 25,260 Raw Materials Inventory 25,260 C. Work in Process Inventory С. 24,127 Raw Materials Inventory Work in Process Inventory D. 32,851 Manufacturing Overhead 32,851 E. Previo Email Instructor Su All work saved.

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS