Please do not give solution in image format thanku Production Data:Beginning WIP inventoryUnits startedUnits to account forBeginning WIP InventoryStarted & completedEnding WIP inventory (100%, 40%, 80%)Units accounted forCost Data:Beginning WIP InventoryCurrent costsCost to account forDivided by EUPCost per EUPCost AssignmentTransferred outEnding inventory:MaterialDirect laborOverheadTotal cost accounted forProduction Data:Beginning WIP inventoryUnits startedUnits to account forPhunky PhingersCost of Production Report (WA Method)For the Month of NovemberUnitsBeginning WIP InventoryCurrent costsCost to account forDivided by EUPCost per EUPCost AssignmentTransferred outBeginning WIP Inventory (0%, 70%, 40%)Started & completedEnding WIP inventory (100%, 40%, 80%)Units accounted forCost Data:Beginning WIP InventoryComplete beginning WIPBeginning WIP InventoryCurrent costsCost to account forDivided by EUPCost per EUPCost AssignmentTransferred out:DLOHPhunky PhingersCost of Production Report (FIFO Method)For the Month of NovemberUnitsSSStarted & completedEnding WIP Inventory:MaterialDirect laborOverheadTotal cost accounted forSBeginning WIP Inventory.Complete beginning WIPUnits$Total$S$$Ending WIP inventory (100%, 40%, 80%)Units accounted forCost Data:UnitsTotalb. For November, prepare a cost of production report, assuming that the company uses the FIFO method.Note: Round the costs per EUP to the nearest two decimal points; use the rounded amounts in subsequent calculations.Note: Other than costs per EUP, round all amounts to the nearest whole dollar.MaterialMaterial$$$$$SMaterialMaterial$Total$$$$$Labor OverheadLabor Overhead$$$$$$$$$Labor OverheadMaterialLabor$Overhead$$$$Labor Overhead$$ WA & FIFO; cost of production reportIn a single-process production system, Phunky Phingers produces wool gloves. For November, the company's accounting records reflected the following:Beginning WIP Inventory (100% complete as to material; 30% complete as todirect labor, 60% complete as to overhead)Units started during the monthEnding WIP Inventory (100% complete as to material; 40% complete as todirect labor, 80% complete as to overhead)Cost Component November 1 During NovemberDirect material$108,000Direct labor54,950Overhead84,989Part APart B$15,6242,2905.56314,400 units108,000 units24,000 units

The cost of production report is a statement that describes details regarding the flow of quantities…

WA & FIFO; cost of production report In a single-process production system, Phunky Phingers produces wool gloves. For November, the company's accounting records reflected the following Beginning WIP Inventory (100% complete as to material; 30% complete as to direct labor, 60% complete as to overhead) Units started during the month Ending WIP Inventory (100% complete as to material, 40% complete as to direct labor, 80% complete as to overhead) Cost Component November 1 During November Direct material $108.000 Direct labor Overhead i Part A Part B $15,624 2,290 5,563 54,950 84,989 14,400 units 108,000 units 24,000 units

WA & FIFO; cost of production report In a single-process production system, Phunky Phingers produces wool gloves. For November, the company's accounting records reflected the following Beginning WIP Inventory (100% complete as to material; 30% complete as to direct labor, 60% complete as to overhead) Units started during the month Ending WIP Inventory (100% complete as to material, 40% complete as to direct labor, 80% complete as to overhead) Cost Component November 1 During November Direct material $108.000 Direct labor Overhead i Part A Part B $15,624 2,290 5,563 54,950 84,989 14,400 units 108,000 units 24,000 units

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A business has the following balances at the beginning of the year: Accounts receivable: 235000 Allowance for doubtful accounts: -15250The following summary transactions occurred during the year.Sales for the year, 100% on credit: 450000Cash collected on accounts receivable for the year: 445200Write-offs of uncollectable accounts receivable : 28200Received a cheque from a customer whose account was previously written off: 2820The overall rate used to estimate the allowance for doubtful accounts at year end: 8%Using the information above, answer the following questions.What is the balance in the accounts receivable account at year end? 1. What is the balance in the accounts receivable account at year end? 2. What is the balance in the allowance for doubtful accounts at year end? 3. What is the balance in the bad debt expense account at year end?
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LutoSave 日 Off UnitlILabAssignment_Question1 O Search (Alt-Q) Protected View Home Insert Draw Page Layout Formulas Data Review View Help PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing fx Formula: Multiply, Subtract; Cell Referencing A D E F G H. K Formula: Multiply, Subtract; Cell Referencing Using Excel to Record Stock Entries Student Work Area PROBLEM Required: Provide input into cells shaded in yellow in this template. Select account names from the drop-down lists. Use cell references to the data area. Use mathematical formulas to calculate any amounts not given. On May 10, Jack Corporation issues common stock for cash. Shares of stock issued Par value per share 2,000 24 %24 10.00 Amount at which stock issued 18.00 Journalize the issuance of the stock. 10 11 Date Debit Credit 12 May 10 13 14 15 16 17 18 19 20 21 22 23 25 26 27 28 29 30 31 32 33 Enter Answer Ready 24
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