Ans. The following information has been taken from the perpetual inventory system of Eclipse Mfg. Co. for themonth ended September 30Purchases of direct materialsDirect materials usedDirect labor costs assigned to production$60,000$50,000$25,000Manufacturing overhead costs incurred (and applied) $35,000Balances in InventorySeptember 30 September 1Materials$?$22,000Work in Process $65,000$45,000Finished Goods $58,000$40,000What is the total manufacturing costs charged (debited) to work in process during September?

Concept of Work in Process (WIP) InventoryWork in Process (WIP) inventory represents partially…

Answered: The following information has been…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 11MC: Beginning inventory and direct material cost added during the month total $55,000. What is the value...

See similar textbooks

Similar questions

Beginning inventory and direct material cost added during the month total $55,000. What is the value of the ending work in process inventory if beginning inventory was 2,000 units; 9,000 units were started; and 1,000 units were in ending inventory? $1,000 $5,000 $50,000 $55,000
Subject: acounting
Ginobili Corp has the following information: Beginning Ending Inventory Inventory (1/1) (12/31) Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $ 21,507 $ 23,112 $ 13,945 $ 9,081 $ 19,802 $ 19,956 Additional information for the year is as follows: Raw materials purchases $ 56,338 $ 41,158 $ $ $ 46,601 2,394 $ Direct labor Manufacturing overhead applied Indirect materials Compute the cost of goods manufactured.
s
Merder Ihc had the folowing informaton for the preceding year. Beginning Ending Inventory Inventory (1/1) (12/31) Rark in Process Inventory $ 22 $ 35,000 Finisbed Goods Inventory $ 72 $ 30,000 Additoral information for the jear is as follows Direct materials used $200,000 Direct labor $150,000 Yamfacturing overhead applied $160,000 Cost of goods manufactured $525,000 $54,00 Cost of goods sold What was the begirning Work in Process Inventory balance on 1?
III. Manufacturing Overhead Costs estimated 500,000 Direct Labor Hours estimated 50,000 Machine Hours estimated 250,000 Direct Labor Costs estimated $ 1,000,000 Determine the Pre-determined Overhead rate based on the following: a Direct Labor Hours b Machine Hours Direct Labor Cost IV. AJ Smith Compay has the following beginning inventory balances at 1/1/2019 Raw materials WIP 16,000 25,000 all in Job 111 FinishedGoods AJ Smith company had the following transactions in January. 1. Purchased Raw Materials on account for 240,000 2. Salaries paid to factory workers was $70,000. All paid in cash. 3. Factory rent of 60,000 and utility bills for 45,000 for the month were paid. and Depreciation on factory equipment was $95,000. 4. Material and labor was charged to jobs in WIP as follows: Machine Hours 15,000 23,000 Material Labor 15,000 40,000 70,000 Job 111 Job 112 25.000 5,000 25,000 70,000 Make a journal for the material and the labor costs to jobs (2 Journals) 50,000 10,000 170,000 Job…
Tag. General Account
The Sauron Company's accounting information system shows the following Information: Work in process inventory, Direct materials Direct naterials inventory Sunnary of all additions to work in process during May Мay 31 Dr $ 148,000 Cr $ 140,000 On April 30, a breakdown of the balance In the work in process account showed that direct materials accounted for $40,000 of the total balance. There were 12.000 units in work in process Inventory on that date. During May no new units were Introduced Into production and all 12000 units in beginning work in process were completed and transferred out. Requlred: Calculate the cost per equivalent unit for materlals for May. Cost per equivalent unit for materials
The following information is available for the year ended December 31 Beginning raw materials inventory Raw materials purchases Ending raw materials inventory Direct labor expense The amount of direct materials used in production for the year is Multiple Choice $10,100 $5,300 $5,900 $ 4,300 5,800 $5,800 4,800 2,800
Problem 1.a.: Computation of Direct Material Used.Akari Inc. provided the following information for its raw material inventory account at the end of the current month:Raw Materials (RM) InventoryAccounts $ Accounts $Beginning balance $22,600 Direct materials (DM) used ?Purchase $88,400 Indirect materials used $7,600Ending Balance $27,200Required: Compute the missing information for the direct materials used during the current month.Solution: Formula: Beginning RM+ RM Purchased= Total RM available for use- Ending RM= RM used- Indirect material used= DM used
WIP, beginning inventory 2,500 units (April 1) Started during April Completed and TO during April WIP, ending inventory 7,500 8200 1,800 (100% complete for DM, and 45% for conversion cost) Cost per equivalent unit $18 for direct materials $12.5 for conversion costs Calculate the cost of ending work in process inventory using the weighted average method. (DON'T USE THE DOLLAR SIGN OR COMMAS)
Give the wip inventory

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS