Prblm Question:Slapshot Company makes ice hockey sticks. On June 1, Slapshothad $48,000 of materials in inventory. During the month of June, thecompany purchased $132,000 of materials. On June 30, materialsinventory equaled $45,000.Required:Calculate the direct materials used in production for the month ofJune.

Explanation of Opening Inventory: Opening inventory refers to the value of materials that a company…

Answered: Question: Slapshot Company makes ice…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 4EA: Marzons records show raw materials Inventory had a beginning balance of $200 and an ending balance...

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Masonrys records show the raw materials inventory had purchases of $1,000and an ending raw materials inventory balance of $200. If the cost of materials used during the month was $900, what was the beginning inventory?
Cost of Direct Materials, Cost of Goods Manufactured, Cost of Goods Sold Bisby Company manufactures fishing rods. At the beginning of July, the following information was supplied by its accountant: During July, the direct labor cost was 43,500, raw materials purchases were 64,000, and the total overhead cost was 108,750. The inventories at the end of July were: Required: 1. What is the cost of the direct materials used in production during July? 2. What is the cost of goods manufactured for July? 3. What is the cost of goods sold for July?
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Question: Slapshot Company makes ice hockey sticks. On June 1, Slapshot had $48,000 of materials in inventory. During the month of June, the company purchased $132,000 of materials. On June 30, materials inventory equaled $45,000. Required: Calculate the direct materials used in production for the month of June.
Direct Materials Used Hannah Banana Bakers makes chocolate chip cookies for cafe restaurants. In June, Hannah Banana purchased $27,000 of materials. On June 1, the materials inventory was $7,560. On June 30, $3,402 of materials remained in materials inventory. Required: 1. What is the cost of the direct materials used in production during June?$ 2. There is a difference between the cost of direct materials that were purchased during the month and the cost of direct materials that were used in production during the month. In this context which of the following is true.
Refer to the information for Lauren Ashely Company above. Required: What was the cost of goods sold for September?
The following transactions were incurred by Mooney Fabricators during January, the first month of its fiscal year. (Click the icon to view the transactions.) Requirements 1. Record the proper journal entry for each transaction. 2. By the end of January, was manufacturing overhead overallocated or underallocated? By how much? Date TWIT b. $178,000 of materials was used in production; of this amount, $146,000 Journal Entry uyumiv era boln Accounts b. Work in Process Inventory Manufacturing Overhead Raw Materials Inventory Debit More info a. $205,000 of materials was purchased on account. b. $178,000 of materials was used in production; of this amount, $146,000 was used on specific jobs. C. Manufacturing labor and salaries for the month totaled $225,000. A total of $215,000 of manufacturing labor and salaries was traced to specific jobs, and the remainder was indirect labor used in the factory. d. e. f. The company recorded $24,000 of depreciation on the plant and plant equipment. The…
The balance in Sedona Company’s raw materials inventory account was $10,000 at the beginning of September and $12,000 at the end of September. Raw materials purchased during the month totaled $95,000. Sedona used $15,000 in indirect materials for the month. Calculate the costs of Direct materials placed in production for the month of September. Group of answer choices $93,000 $97,000 $105,000 $78,000
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Required: If the December 1 balance in the Direct Materials Inventory account was $20,000, the December 31 balance was $22,000, and $130,000 of direct materials were issued to production during December, what was the amount of direct materials purchased during the month? Purchased amount of direct material
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