Financial Accounting Materials were requisitioned for use, $28,200, of which $25,000 were directmaterials. The entry is:A. Dr. Manufacturing Overhead for $25,000 and Work in Process Inventory for$3,200 and Cr. Materials Inventory for $28,200.B. Dr. Work in Process Inventory for $25,000 and Manufacturing Overhead for$3,200 and Cr. Materials Inventory for $28,200.C. Dr. Manufacturing Overhead for $25,000 and Work in Process Inventory for$3,200 and Cr. Materials Purchases for $28,200.D. Dr. Work in Process Inventory for $28,200 and Cr. Materials Inventory for$28,200.

When materials are requisitioned for use in production, they are categorized as either:Direct…

Answered: Materials were requisitioned for use,…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 13PA: Selected information from Skylar Studios shows the following: Prepare journal entries to record the...

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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
Materials were requisitioned for use, $28,200, of which $25,000 were direct materials. The entry is: A. Dr. Manufacturing Overhead for $25,000 and Work in Process Inventory for $3,200 and Cr. Materials Inventory for $28,200. B. Dr. Work in Process Inventory for $25,000 and Manufacturing Overhead for $3,200 and Cr. Materials Inventory for $28,200. C. Dr. Manufacturing Overhead for $25,000 and Work in Process Inventory for $3,200 and Cr. Materials Purchases for $28,200. D. Dr. Work in Process Inventory for $28,200 and Cr. Materials Inventory for $28,200.
Managerial accounting
The assembly dept. requisitioned raw material from the warehouse having a cost of $5.000 while the finishing department requisitioned raw materials costing $2,000 from the warehouse. Provide the necessary journal entries.
The total cost of materials, labor, and overhead assigned to a job was $603. Company D transferred this job to its finished goods warehouse. Make the necessary journal entry to record this transaction.
Sterling's records show the work in process inventory had a beginning balance of $2,978 and an ending balance of $3,706. How much direct labor was incurred if the records also show: • Materials used $2,285 • Overhead applied $1,377 • Cost of goods manufactured $6,587 E noileeu PAntaubol medmua
b. Materials requisitioned, $680,000, of which $75,800 was for general factory use. Entry Description Debit Credit b. Work in Process fill in the blank 6 fill in the blank 7 Factory Overhead fill in the blank 9 fill in the blank 10 Materials fill in the blank 12 fill in the blank 13 c. Factory labor used, $756,000, of which $182,000 was indirect. Entry Description Debit Credit c. Work in Process fill in the blank 15 fill in the blank 16 Factory Overhead fill in the blank 18 fill in the blank 19 Wages Payable fill in the blank 21 fill in the blank 22
In job costing, the journal entry to record $200 of depreciation expense on factory equipment for the current period involves which of the following? credit to manufacturing overhead for $200 debit to depreciation expense-factory equipment for $200 debit to manufacturing overhead for $200 debit to accumulated depreciation-factory equipment for $200
Prepare journal entries to record the following production activities for Hotwax. 1. Requisitioned $9,000 of indirect materials for use in production of surfboard wax. 2. Incurred $156,000 overhead costs (credit Other Accounts). 3. Applied overhead at the rate of 140% of direct labor costs. Direct labor costs were $75,000 in the Mixing department and $50,000 in the Shaping department.
Analyze the following T-accounts to determine the amount of direct and indirect materials used. Analyze the T-accounts to find the direct materials used and total materials used. Raw Materials Inventory Work-in-Process Inventory Bal. 15 Bal. 40 Purchased 200 Used Direct Materials 530 Cost of Goods Bal. 55 Direct Labor 320 Manufactured Manufacturing Overhead 145 Bal. 35 Next, calculate the indirect materials used. Materials requisitioned Direct materials used Indirect materials used
Shawna, Inc. completed manufacturing Job 44. It included $3,400 of direct materials cost, $1,200 of direct labor cost, and $500 of allocated manufacturing overhead. Which of the following is the correct journal entry needed to record the completed job? A. Finished Goods Inventory 5,100 Cost of Goods sold 5,100 B. Work−in−Process Inventory 4,600 Cost of Goods Sold 4,600 C. Work−in−Process Inventory 5,100 Finished Goods Inventory 5,100 D. Finished Goods Inventory 5,100 Work−in−Process Inventory 5,100
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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