Managerial 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.

Option b: This option is correct because $25000 is used as direct material which will become part of…

Answered: Materials were requisitioned for use,…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter10: Accounting Systems For Manufacturing Operations

Section: Chapter Questions

Problem 10.9E: Recording issuing of materials Materials issued for the current month are as follows a. Determine...

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Similar questions

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.
Financial Accounting
The cost of materials transferred into the Rolling Department of Keystone Steel Company is $510,000 from the Casting Department. The conversion cost for the period in the Rolling Department is $81,200 ($54,700 factory overhead applied and $26,500 direct labor). The total cost transferred to Finished Goods for the period was $553,200. The Rolling Department had a beginning inventory of $25,000.a. Journalize (1) the cost of transferred-in materials, (2) conversion costs, and (3) the costs transferred out to Finished Goods.b. Determine the balance of Work in Process—Rolling at the end of the period.
The cost of materials transferred into the Rolling Department of Keystone Steel Company is $590,700 from the Casting Department. The conversion cost for the period in the Rolling Department is $109,500 ($65,500 factory overhead applied and $44,000 direct labor). The total cost transferred to Finished Goods for the period was $687,200. The Rolling Department had a beginning inventory of $29,200. a1. Journalize the cost of transferred-in materials. a2. Journalize the conversion costs. If an amount box does not require an entry, leave it blank. a3. Journalize the costs transferred out to Finished Goods. b. Determine the balance of Work in Process—Rolling at the end of the period.
During November at ABC Company, OMR83,000 of raw materials were requisitioned from the storeroom and used in production. These raw materials included both direct and indirect materials. The indirect materials totaled OMR4,000. The journal entry to record the material requisition from the storeroom would include a: Select one: O a. Debit to work in process of OMR68,000 O b. Debit to raw materials of OMR73,000 Oc Credit to manufacturing overhead of OMR5,000 O d. Credit to work in process of OMR68,000 O e. None of the answers given O f. Debit to manufacturing overhead of OMR68,000
The cost of materials transferred into the Rolling Department of Keystone Steel Company is $510,000from the Casting Department. The conversion cost for the period in the Rolling Department is $81,200 ($54,700 factory overhead applied and $26,500 direct labor). Tht total cost transferred to Finished Goods for the period was $553,200. The Rolling Department had a Beginning Inventory of $25,000 Journalize the cost of transferred in materials.
The costs per equivalent unit of direct materials and conversion in the RollingDepartment of Kraus Steel Company are $750 and $120, respectively. The equivalentunits to be assigned costs are as follows:The beginning work in process inventory on October 1 had a cost of $163,800.Determine the cost of completed and transferred-out production, the ending work inprocess inventory, and the total costs assigned by the Rolling Department
QUESTION 9 10 p The cost of materials transferred into the Rolling Department of Keystone Steel Company is $510,000from the Casting Department The conversion cost for the period in the Rolling Department is $81,200 ($54,700 factory overhead applied and $26,500 direct labor). The total cost transferred to Finished Goods for the period was $553,200. The Rolling Department had a Beginning Inventory of $25,000 Journalize the cost of transferred out to Finished Goods. Work in Process - Rolling 553,200 Finished Goods 553,200 Finished Goods 553,200 Work in Process - Rolling 553,200 Finished Goods 510,000 Work in Process - Rolling 510,000 Work in Process Rolling 510,000 Finished Goods 510,000
The Brass Works is in the process of determining manufacturing overhead. Journalize events (a) (d) to Factory Overhead, Administrative Expenses, Selling Expenses, or allocated between the three as appropriate. The insurance policy and electric bill were paid in cash at the time of acquisition. Next calculate the overhead application rate and apply overhead to Work in Process. a. Brass Works purchases an insurance policy for $4,000. It is computed that 80% of the value of the policy protects production, the balance protects the administrative offices. Brass Works charges insurance initially to expense. If an amount box does not require an entry, leave it blank.
The costs per equivalent unit of direct materials and conversion in the Rolling Department of Keystone Steel Company are $60 and $10, respectively. The equivalent units to be assigned costs are as follows: Attachment The beginning work in process inventory had a cost of $25,000. Determine the cost of completed and transferred-out production and the ending work in process inventory.
In July, the cost of materials transferred into the Rolling Department from the Casting Department of Oak Ridge Steel Company is $544,900. The conversion cost for the period in the Rolling Department is $116,900 ($68,900 factory overhead applied and $48,000 direct labor). The total cost transferred to Finished Goods for the period was $590,000. The Rolling Department had a beginning inventory of $26,500. a1. Journalize the cost of transferred-in materials. fill in the blank 16e838059fb9033_2 fill in the blank 16e838059fb9033_4 a2. Journalize the conversion costs. If an amount box does not require an entry, leave it blank. fill in the blank a2acba089f98fcb_2 fill in the blank a2acba089f98fcb_3 fill in the blank a2acba089f98fcb_5 fill in the blank a2acba089f98fcb_6 fill in the blank a2acba089f98fcb_8 fill in the blank a2acba089f98fcb_9 a3. Journalize the costs transferred out to Finished Goods. fill in the…

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