Zina Manufacturing Company started and completed Job 501 in December with the following Job Cost Sheet and transferred it to the warehouse. Direct Materials Date Dec 17 Dec 30 Total Amount $2,000 Dec 20 8,000 Dec 30 Total Job Cost Sheet - Job No. 501 Direct Labor Date Amount $4,000 3,800 Total Cost The journal entry to record the transaction is A) WIP Inventory FG Inventory B) Cost of Goods Sold WIP Inventory C) FG Inventory WIP Inventory D) FG Inventory WIP Inventory Debit Credit 35,800 17,800 17,800 Manufacturing Overhead Date Amount Dec 24 $10,000 Dec 30 8,000 Total 35,800 35,800 17,800 17,800 35,800

Zina Manufacturing Company started and completed Job 501 in December with the following Job Cost Sheet and transferred it to the warehouse. Direct Materials Date Dec 17 Dec 30 Total Amount $2,000 Dec 20 8,000 Dec 30 Total Job Cost Sheet - Job No. 501 Direct Labor Date Amount $4,000 3,800 Total Cost The journal entry to record the transaction is A) WIP Inventory FG Inventory B) Cost of Goods Sold WIP Inventory C) FG Inventory WIP Inventory D) FG Inventory WIP Inventory Debit Credit 35,800 17,800 17,800 Manufacturing Overhead Date Amount Dec 24 $10,000 Dec 30 8,000 Total 35,800 35,800 17,800 17,800 35,800

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The journal entry to record $1,500 of direct labor and $250 of indirect labor incurred will include debit(s) to the ________. A. Work−in−Process Inventory account for $1,500 and Manufacturing Overhead account for $250 B. Manufacturing Overhead account for $1,750 C. Finished Goods Inventory account for $1,750 D. Work−in−Process Inventory account for $1,500 and Finished Goods Inventory account for
Subject - account Please help me Thankyou
Dog
How much is total cost of goods manufactured?
Entries and schedules for unfinished jobs and completed jobs Instructions Chart of Accounts Amount Descriptions Journal T Accounts Schedule of Unfinished Jobs Schedule of Completed Jobs Instructions Tybee Industries Inc. uses a job order cost system. The following data summarize the operations related to production for January, the first month of operations: a. Materials purchased on account, $29,800. b. Materials requisitioned and factory labor used: Job Materials Factory Labor 301 $ 2,960 $2,775 302 3,620 3,750 303 2,400 1,875 304 8,100 6,860 305 5,100 5,250 306 3,750 3,340 For general factory use 1,080 4,100 c. Factory overhead costs incurred on account, $5,500. d. Depreciation of machinery and equipment, $1,980. e. The factory overhead rate is $54 per machine hour. Machine hours used: Job Machine Hours 301 25 302 36 303 30 304 72 305 40 306 25…
Entries and Schedules for Unfinished Jobs and Completed Jobs Tybee Industries Inc. uses a job order cost system. The following data summarize the operations related to production for January, the first month of operations: Materials purchased on account, $2,230. Materials requisitioned and factory labor used: Job Materials Factory Labor 301 $2,520 $2,190 302 3,070 2,960 303 2,040 1,450 304 6,900 5,430 305 4,380 4,140 306 3,200 2,630 For general factory use 860 3,240 Factory overhead costs incurred on account, $4,810. Depreciation of machinery and equipment, $1,550. The factory overhead rate is $45 per machine hour. Machine hours used: Job Machine Hours 301 44 302 19 303 20 304 83 305 45 306 27 Total 238 Jobs completed: 301, 302, 303, and 305. Jobs were shipped and customers were billed as follows: Job 301, $8,030; Job 302, $8,260; Job 303, $12,730.
Louisiana Metals uses a job costing system. The company applies manufacturing overhead using a predetermined rate based on direct labor cost. The following debits (credits) appeared in the Work-in-Process Inventory for June. June 1 For the month For the month For the month For the month Balance Direct labor Direct materials Manufacturing overhead To finished goods Beginning inventory ??? $ 33,000 43, 200 19,800 (78,700) Job LM-12, the only job still in production at the end of June, has been charged $13,200 in direct materials cost and $12,400 in direct labor cost. Required: What was the beginning balance in Work-in-Process Inventory?
Dont uplode images
Prepare journal entry