Material costing 18000 were sent to the Machines manufacturing plant. Where $7000 wereissued to Job No. 301, and $8000 to job No. 305. There is $3000 of indirect material wereissued. What is the journal entry for such transaction?Dr. work in-process control:Job No. 301Job No. 305Factory overhead control 3000a.70008000Cr. Material control18000b.Dr. Material control18000Cr. work in-process control:Job No. 301Job No. 30570008000Factory overhead control 3000c. Dr. Material control15000Cr. work in-process control:Job No. 301Job No. 30570008000d. Dr. Material control 3000Cr. Factory overhead control 3000e. C+Dabd

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Description: Material costing 18000 were sent to the Machines manufacturing plant. Where $7000 wereissued to Job No. 301, and $8000 to job No. 305. There is $3000 of indirect material wereissued. What is the journal entry for such transaction?Dr. work in-process

When the material is issued for the production of the goods for the jobs, the work in process…

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Material costing 18000 were sent to the Machines manufacturing plant. Where $7000 were issued to Job No. 301, and $8000 to job No. 305. There is $3000 of indirect material were issued. What is the journal entry for such transaction? Dr. work in-process control: Job No. 301 Job No. 305 Factory overhead control 3000 Cr. Material control a. 7000 8000 18000 b. Dr. Material control 18000 Cr. work in-process control: Job No. 301 Job No. 305 7000 8000 Factory overhead control 3000 c. Dr. Material control 15000 Cr. work in-process control: Job No. 301 7000 Job No. 305 8000 d. Dr. Material control 3000 Cr. Factory overhead control 3000 e. C+D a b d

Material costing 18000 were sent to the Machines manufacturing plant. Where $7000 were issued to Job No. 301, and $8000 to job No. 305. There is $3000 of indirect material were issued. What is the journal entry for such transaction? Dr. work in-process control: Job No. 301 Job No. 305 Factory overhead control 3000 Cr. Material control a. 7000 8000 18000 b. Dr. Material control 18000 Cr. work in-process control: Job No. 301 Job No. 305 7000 8000 Factory overhead control 3000 c. Dr. Material control 15000 Cr. work in-process control: Job No. 301 7000 Job No. 305 8000 d. Dr. Material control 3000 Cr. Factory overhead control 3000 e. C+D a b d

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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work Required information [The following information applies to the questions displayed below.] The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials Work in process $ 29,000 9,600 51,000 Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 1. Incurred other overhead costs (record credit to Other Accounts). 2. Applied overhead to work in process. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet
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Raw materials requisitioned by production for job No.106 consist of Direct Materials $7,000 and Indirect Materials $1,000. The entry to record this transaction is: * A debit to Work in Process $7,000, a debit to Manufacturing Overhead $1,000 and a credit to Raw Material Inventory $8,000 A debit to Work in Process $6,000, a debit to Manufacturing Overhead $1,000 and a credit to Raw Material Inventory $7,000 A debit to Work in Process $7,000, a credit to Manufacturing Overhead $1,000 and a credit to Raw Material Inventory $6,000 O None of the above
services SQU Libraries SQU Portal Attendance English (en O b. OMR605 O c. OMR545 O d. OMR635 O e. OMR575 XYZ Company provided the following information regarding Product XY: Direct material costs OMR3 per unit of product; Direct labor costs OMR5 per direct labor hour; Predetermined overhead rate OMR10 per direct labor hour. The cost of a job for 550 units of product XY, which uses a total of 100 direct labor hours, is: Select one: Oa. OMR5,400 Ob. OMR3,300 Oc. OMR3,150 Od. None of the answers given e. OMR9,900 Total manutacturing costs assioned inclucted 10 units heom ofs tota mana
3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Hildreth Company Schedule of Unfinished Jobs Direct Factory Job Direct Labor Total Materials Overhead No. 104 No. 106 Balance of Work in Process, April 30 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account. Hildreth Company Schedule of Completed Jobs Direct Factory Job Direct Labor Total Materials Overhead Finished Goods, April 30 (Job 103) V $
Coat-All Paint Company used a predetermined overhead allocation rate to allocate $85,000 and $50,000 of indirect costs to the Coloring Department and the Mixing Department, respectively. The journal entry to record the allocation of overhead costs to the Coloring Department is Process costing is used. OA. debit Manufacturing Overhead, $50,000; credit Work - in - Process Inventory-Mixing, $50,000 OB. debit Work - in – Process Inventory-Coloring, $85,000; credit Manufacturing Overhead, $85,000 OC. debit Manufacturing Overhead, $85,000; credit Work - in - Process Inventory-Mixing, Ss85,000 D. debit Work- in-Process Inventory-Coloring. $50,000; credit Manufacturing Overhead, $50,000
9. Identify the costing method that is suitable for mines, quarries, cement works etc. a.Contract b.Batch c.Operation d.Process 10. Identify the journal entry for direct material returns to stores. a.Dr.Work in process inventory, Cr.Material inventory b.Dr.Material inventory, Cr.Factory overheads c.Dr.Factory overheads, Cr.Material inventory d.Dr.Material inventory, Cr.Work in process inventory
! Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Beginning of period $ 45,000 9,600 68,000 End of Period Inventories Raw materials Work in process Finished goods $ 45,000 19,000 33,500 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs $ 178,000 250,000 9,000 57,500 115,500 Exercise 15-13 (Algo) Recording materials; direct and indirect LO P1, P3 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. X Answer is not complete. No Transaction General Journal…
I am working on T accounts for the Polaris Company using a job-cost order and I am stuck on this attached problem. Can you show me how to find the missed problems. Thank you.
Assigning indirect costs to departments is completed by ________. applying the predetermined overhead rate debiting the manufacturing costs incurred applying the costs to manufacturing overhead applying the costs to work in process inventory In a process costing system, which account shows the overhead assigned to the department? cost of goods sold • finished goods inventory raw material inventory work in process inventory A print shop produces custom paintings. It has received four different orders (a/B/C/D) The total cost for the four orders is labor $6000, materials $10,000 and overheads for 5,000. What processes/systems would you implement if you wanted to know the cost for each of the orders which are not similar.
Sandhill Company has the following record of costs. Balance May 1 Materials Labor Overhead Transfer out Balance May 31 (a) Raw Materials Inventory MANUFACTURING COSTS -$5,700 Work in process, May 31 Save for Later eTextbook and Media Factory Labor How many units are in process at May 31? -$2,710 Manufacturing Overhead -$1,280 WORK IN PROCESS units Painting $3,790 5,700 2,710 1,280 Production records show that there were 600 units in the beginning inventory, 30% complete, 1,600 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $2,440 and conversion costs of $1,350. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. -? $? FINISHED GOODS INVENTORY ? Attempts: 0 of 3 used Submit Answer