Selected accounts with amounts omitted are as follows Work in Process Aug.  1   Balance 269,610   Aug. 31 Goods finished 176,760        31   Direct materials X               31   Direct labor  36,300               31   Factory overhead X        Factory Overhead Aug.  1 – 31 Costs incurred 109,360   Aug. 1 Balance 12,070              31 Applied            (30% of direct labor cost) X If the balance of Work in Process on August 31 is $199,160, what was the amount debited to Work in Process for direct materials in August? a.$59,120 b.$328,310 c.$505,070 d.$106,750

Q: April 30 May 31 Inventories Raw materials Work in process Finished goods Activities and information…

A: The cost of goods sold includes the cost of goods that are sold during the period.

Q: The following information is available for Fuller Manufacturing Company for the month ending October…

A: Cost of goods manufactured = Beginning Work in process inventory + Total manufacturing costs -…

Q: 300 31 Factory overhead X

A: The manufacturing overhead rate is the standard amount of factory overhead cost attributed to each…

Q: The Zoe Corporation has the following information for the month of March: Cost of direct materials…

A: a) Cost of Goods manufactured: It is the total cost that is incurred in a particular period to…

Q: Selected accounts with amounts omitted are as follows Work in Process Aug.  1   Balance 254,090…

A: Work in process in an inventory that is being processed in the production process of the company.

Q: Marco Company shows the following costs for three jobs worked on in April. Balances on March 31…

A: Job costing is an accounting techniques which is used to assigned the cost to each job in terms of…

Q: Selected accounts with amounts omitted are as follows Work in Process Aug. 1 Balance 269,610…

A: Direct Material: The term "direct material" refers to the tangible components that go into the…

Q: Selected accounts with amounts omitted are as follows: Work in Process 263,340 Aug. 31 Aug. 1 31 31…

A: The work in process account records the direct costs incurred and overhead applied to the…

Q: Selected accounts with a credit amount omitted are as follows Work in Process Apr. 1 Balance…

A: Balance of work in progress as on 30 April is calculated as: Opening balance + direct material+…

Q: Selected accounts with some amounts omitted are as follows: Work in Process Aug.  1   Balance…

A: The objective of the question is to find the amount debited to Work in Process for direct materials…

Q: Entries for Costs in a Job Order Cost System Velasco Co. uses a job order cost system. The following…

A: The journal entries are prepared to keep the record of day to day transactions of the business on…

Q: Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260.…

A: Finished good inventory means the goods that are completed but not sold yet. The value of this can…

Q: Present the journal entries to record (a) the

A:

Q: Selected accounts with some amounts omitted are as follows: Work in Process Oct. 1 Balance…

A: The objective of the question is to find the amount of factory overhead applied in October. This can…

Q: Primare Corporation has provided the following data concerning last month's manufacturing…

A: SCHEDULE OF COST OF GOODS MANUFACTUREDSchedule Of Cost Of Goods Manufactured are those costs which…

Q: elected accounts with amounts omitted are as follows Work in Process Aug.    1   Balance 275,000…

A: Factory Overhead A/C Date Items Amount($) Date Items Amount($)…

Q: Marco Company shows the following costs for three jobs worked on in April. Balances on March 31…

A: The overhead is applied to the production on the basis of predetermined overhead rate. The…

Q: Selected accounts with some amounts omitted are as follows Work in Process Aug.  1   Balance…

A: Overhead cost: The costs other than the direct costs such as insurance, interest, repairs, taxes…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: Predetermined overhead rate = Estimated factory overheads / estimated direct labour hours

Q: The Zoe Corporation has the following information for the month of March: Cost of direct materials…

A: Cost of direct materials used in production $18,652 Direct labor 23,510 Factory overhead 37,430…

Q: Selected accounts with some amounts omitted are as follows Work in Process

A: The total cost of production of a good comprises of the total fixed cost of production and the total…

Q: The Zoe Corporation has the following information for the month of March: Cost of direct materials…

A: Cost sheet is a method of allocating total cost into different categories such as direct material…

Q: The Zoe Corporation has the following information for the month of March: Cost of direct materials…

A: Cost sheet is a method of allocating total cost into different categories such as direct material…

Q: Selected accounts with amounts omitted are as follows Work in Process Aug.  1   Balance 268,080…

A: Overhead applied =37100 x 30%=$11130 Total manufacturing cost =$195330 +$ 215360 -$268080=$142610

Q: Selected accounts with some amounts omitted are as follows Work in Process Aug.  1   Balance…

A: In this case, we have to Prepare the works-in-progress Account and factory overhead is 30% of direct…

Q: Using the information below for Singing Dolls, Inc., determine the total manufacturing costs…

A: Given the following information: Work in Process, January 1: $50,600 Work in Process, December 31:…

Q: Selected accounts with amounts omitted are as follows Work in Process Aug.  1   Balance 277,180…

A: Overhead applied = Direct labor*30% Overhead applied = $34,600*30% Overhead applied = $10,380

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: The overhead is applied to the production on the basis of pre-determined overhead rate. The…

Q: During August, Jernigan Company incurred factory overhead costs as follows: indirect materials,…

A: Total factory overhead = Indirect materials + Indirect labor + Utilities cost + Factory depreciation…

Q: Selected accounts with amounts omitted are as follows: Work in Process Aug. 1 Balance 263,980 Aug.…

A: The correct answer is Option (d).

Q: Selected accounts with a credit amount omitted are as follows Work in Process Apr. 1 Balance 7,100…

A: This question requires us to calculate the Closing Balance of the Work in Process Account as of…

Q: elected accounts with some amounts omitted are as follows: Work in Process 254,200 Aug. 31 ug. 1 31…

A: Factory Overhead -The expenses of operating a business that aren'tisn't directly related to a…

Q: Primare Corporation has provided the following data concerning last month's manufacturing…

A: Total Manufacturing Cost :— It is the total cost incurred in the manufacturing of product during the…

Q: The following account appears in the ledger prior to recognizing the jobs completed in August:…

A: a. Record journal entry on August 31 for jobs completed as shown below:

Q: Selected accounts with amounts omitted are as follows: Work in Process 266,230 Aug. 31 Aug. 1 31 31…

A: Work in process is the total cost of those goods that remain unfinished at the end of the period. It…

Q: Determine the amount of overhead applied

A: Overhead allocation means assigning overhead costs to units of products or jobs. Some firms employ…

Q: The following information pertains to Thornton Manufacturing Company for March Year 3. Assume actual…

A: The cost of goods manufactured includes the cost of goods that are finished during the period. The…

Q: Cost of direct materials used in production $15,039 Direct labor 25,600 Factory overhead 30,572 Work…

A: Solution...     Total manufacturing cost  = Direct Material used - direct labor + factory overhead…

Q: Selected accounts with some amounts omitted are as follows: Work in Process Aug.  1   Balance…

A: Factory overhead is the secondary costs spent throughout the manufacturing process that cannot be…

Q: The following account appears in the ledger prior to recognizing the jobs completed in August:…

A: Cost of unfinished job = Total cost - Job finished

Q: 43,900 Factory Overhead 106,500 Aug. 1 Balance 13,600 31 Applied cess on August 31 is $200,100, what…

A: Direct Labor: Direct Labor is directly connected to the production and not the administration or…

Q: Selected accounts with amounts omitted are as follows Work in Process Aug.  1   Balance 266,720…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Selected accounts with some amounts omitted are as follows: Work in Process 250,640 Aug. 31 X 35,800…

A: Goods finished = Beginning WIP + Total manufacturing costs - Ending WIP Total manufacturing costs =…

Q: Before the completed production for June is recorded, the work in process inventory account for…

A: Total cost of jobs completed=Job 107 + Job 108 + Job 109=$126,000+$265,500+$112,500=$504,000

Q: Selected accounts with a credit amount omitted are as follows Work in Process Apr.   1   Balance…

A: Formula: Ending work in process = Beginning work in process + Direct materials + Direct labor +…

Q: Selected accounts with some amounts omitted are as follows Work in Process Oct. 1 Balance 24,100…

A: Let's understand some basics Factory overhead is the costs incurred during the manufacturing…

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.