Raw Materials Debit Credit Beginning Balance 4,600 8,200 4,800 Work in Process Debit Credit Beginning Balance 3,700 21,800 5,800 8,100 7,900 Finished Goods Debit Credit Beginning Balance 1,800 20,000 21,800 Manufacturing Overhead Debit Credit 2,400 7,900 3,100 2,800 Wages & Salaries Payable Debit Credit 20,000 Beginning Balance 2,100 11,200 Cost of Goods Sold Debit Credit 20,000 The direct materials cost was:

Raw Materials Debit Credit Beginning Balance 4,600 8,200 4,800 Work in Process Debit Credit Beginning Balance 3,700 21,800 5,800 8,100 7,900 Finished Goods Debit Credit Beginning Balance 1,800 20,000 21,800 Manufacturing Overhead Debit Credit 2,400 7,900 3,100 2,800 Wages & Salaries Payable Debit Credit 20,000 Beginning Balance 2,100 11,200 Cost of Goods Sold Debit Credit 20,000 The direct materials cost was:

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 8CDQ: Describe the Source 01 the data for increasing Work in Process for (a) direct materials, (b) direct...

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Describe the Source 01 the data for increasing Work in Process for (a) direct materials, (b) direct labor, and (c) factory overhead
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Required information[The following information applies to the questions displayedbelow.]We discuss how to prepare the process costing production reportusing the weighted-average method. In addition, we discuss that aproduction report is a summary of what occurs in the productionprocess, and includes information about the number of physicalunits, number of equivalent units, cost per equivalent unit, and areconciliation of the cost of Work in Process Inventory. Knowledge Check 01Paula's Fab Tee Company, which prints T-shirts, has three processingdepartments (printing, labeling, and packaging). The total cost per equivalentunit was $17.80 for the printing department, $0.80 for the labeling department,and $0.40 for the packaging department. The total cost of the 1,450 units thatwere transferred out of the Work in Process Inventory (Packaging) account tothe Finished Goods Inventory account was:
ttempt%3D1347310&cmid%3D701917 ming services SQU Libraries SQU Portal Attendance English (en Which of the following is correct with resnect to closing out underapplied manufacturing overhead to Cost of Goods Sold versus closing it out to Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold? Select one: a. The balance in the Work-in-Process account after allocation will be higher if the underapplied overhead is closed out by allocating it to all appropriate accounts. b. The balance in the Work-in-Process account after allocation will be the same under either method. C. None of given ANSWER is correct. d. Operating income will be higher if all of the underapplied overhead is closed out to Cost of Goods Sold. X e. Cost of Goods Sold will be higher if the underapplied. overhead is closed out by allocatinog it to the inventory accounts as well as to Cost of Goods Sold. The corect
A production cost report Is an accounting report that describes the physical flow of units, equvalent units of production for direct materials and converslon, costs pet e nt urit of production for direct materials and for conversion, and the assignment of total costs to units worked on in the perlod. True or False True False Next 18 of 25 < Prev
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Determine the missing amount for each separate situation involving work in process cost flows. Total manufacturing costs Work in process inventory, beginning Work in process inventory, ending Cost of goods manufactured $ (1) 105,200 84,200 200,200 $ (2) 150,200 $ 22,200 $ 138,200 (3) 217,200 32,200 $ 237,200
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