Information related to Scullio Manufacturing appears below. What is the ending balance in the work-in-process (WIP) inventory account? Cost of good manufactured 44,500 Beginning WIP inventory 32,000 Total current manufacturing costs 35,000 Manufacturing overhead applied 11,000 Direct labor cost 16,500

Information related to Scullio Manufacturing appears below. What is the ending balance in the work-in-process (WIP) inventory account? Cost of good manufactured 44,500 Beginning WIP inventory 32,000 Total current manufacturing costs 35,000 Manufacturing overhead applied 11,000 Direct labor cost 16,500

Name: Information related to Scullio Manufacturing appears below. What is th
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Description: Information related to Scullio Manufacturing appears below. What is the ending balance in the work-in-process (WIP) inventory account? Cost of good manufactured44,500Beginning WIP inventory32,000Total current manufacturing costs35,000Manufacturing ov

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 15MC: In a job order cost system, utility expense incurred is debited to which account? A. work in process...

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Statement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Robstown Corporation for 20Y8: Instructions 1. Prepare the 20Y8 statement of cost of goods manufactured. 2. Prepare the 20Y8 income statement.
What are the total costs to account for if a companys beginning inventory had $231,432 in materials, $186,450 in conversion costs, and added direct material costs ($4,231,392), direct labor ($2,313,392), and manufacturing overhead ($1,156,696)?
Webster Company uses backflush costing to account for its manufacturing costs. The trigger points for recording inventory transactions are the purchase of materials, the completion of products, and the sale of completed products. Required: 1. Prepare journal entries, if needed, to account for the followingtransactions. a. Purchased raw materials on account, 135,000. b. Requisitioned raw materials to production, 135,000. c. Distributed direct labor costs, 20,000. d. Incurred manufacturing overhead costs, 80,000. (Use Various Credits for the credit part of the entry.) e. Cost of products completed, 235,000. f. Completed products sold for 355,000, on account. 2. Prepare any journal entries that would be different from theabove, if the only trigger points were the purchase of materialsand the sale of finished goods.
During March, the following costs were charged to the manufacturing department: $14886 for materials; $14,656 for labor; and $13,820 for manufacturing overhead. The records show that 30,680 units were completed and transferred, while 2,400 remained in ending inventory. There were 33,080 equivalent units of material and 31,640 of conversion costs. Using the weighted-average method, what is the cost of inventory transferred and the balance in work in process inventory?
Sterlings records show the work in process Inventory had a beginning balance of $4000 and an ending balance of $3,000. How much direct labor was incurred if the records also show :
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In a job order cost system, factory wage expense is debited to which account? A. raw materials inventory B. work in process inventory C. finished goods inventory D. cost of goods sold
Which of the following is a prime cost? A. direct labor B. work in process inventory C. administrative labor D. factory maintenance expenses
In a job order cost system, raw materials purchased are debited to which account? A. raw materials inventory B. work in process inventory C. finished goods inventory D. cost of goods sold
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In a job order cost system, indirect labor incurred is debited to which account? A. work in process inventory B. finished goods inventory C. manufacturing overhead D. cost of goods sold
Materials are added at the beginning of a production process, and ending work in process inventory is 30% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted-average method.

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Cost of good manufactured	44,500
Beginning WIP inventory	32,000
Total current manufacturing costs	35,000
Manufacturing overhead applied	11,000
Direct labor cost	16,500