Need Help with this Question 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.

Step 1: Definition of Materials Inventory:Materials inventory is a balance sheet account used by…

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...

See similar textbooks

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
Managerial 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 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 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.
Sterling's records show the work in process inventory had a beginning balance of $3,000 and an ending balance of $4,000. How much direct labor was incurred if the records also show: Materials used $1,700 Overhead applied 500 Cost of goods manufactured 5,600
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
Uhtred Manufacturing had the following transactions in October: 1. Purchased raw materials on account, $57,100. 2. Used materials in production: $18,500 in the Mixing Department; $5,100 in the packaging Department; $800 in indirect materials. 3. Incurred labor costs: $9,000 in the Mixing Department; $3,960 in the Packaging Department; $2,140 in indirect labor. 4. Incurred manufacturing overhead costs: $8,850 in machinery depreciation; paid $3,750 for rent and paid for utilities at a cost of $1,690. Prepare the journal entries for Uhtred Manufacturing. Date 1 2 3 4 Description O O O O O O O C O Debit Credit 000 I
Fortune Company had beginning raw materials inventory of $9,900. During the period, the company purchased $55,500 of raw materials on account. If the ending balance in raw materials was $6,900, the amount of raw materials transferred to work in process is: Multiple Choice $52,500. $58,500. $55,500. $62,400.
Please help me with this question.

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Principles of Cost Accounting

Accounting

ISBN:

9781305087408

Author:

Edward J. Vanderbeck, Maria R. Mitchell

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Principles of Cost Accounting

Accounting

ISBN:

9781305087408

Author:

Edward J. Vanderbeck, Maria R. Mitchell

Publisher:

Cengage Learning

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS