Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)

6th Edition

ISBN: 9780134486857

Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura

Publisher: PEARSON

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Textbook Question

Chapter 17, Problem 16E

Defining terminology

Match the following terms to their definitions.

a. A record used to assign direct labor cost to specific jobs.
b. A document that requests the transfer of materials to the production floor.
c. A document that shows the direct materials, direct labor, and manufacturing overhead costs for an individual job.
d. An accounting system that accumulates costs by process.
e. The production of a unique product or specialized service
f. Used by companies that manufacture unique products or provide specialized services.

1. Job
2. Job Cost Record
3. Job Order Costing System
4. Labor Time Record
5. Materials Requisition
6. Process Costing System

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Chapter 17, Problem 15E

Chapter 17, Problem 17E

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The Polishing Department of Crane Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory of 1,500 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period is 40,000; ending inventory of 5,000 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $20,100 of materials and $11,110 of conversion costs; materials costs added in Polishing during the month, $166,650; labor and overhead applied in Polishing during the month, $125,700 and $257,240, respectively. Compute the equivalent units of production for materials and conversion costs for the month of September.

Northern Company has a process costing system using the weighted average cost flow method. All materials are introduced at the beginning of the process in Department 1. The following information is available for the month of January: Units Work in process, January 1 (60% done as to conversion 4,000 Started in January 12,000 Transferred to Department 2 during January 10,000 Work in Process, January (20% done as to conversion cost) 6,000 The number of equivalent units of production for conversion costs for the month of January is: A. 12,000 B. 11,600 C. 11,200

Chapter 17 Solutions

Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)

Ch. 17 - Would the following companies most likely use a...Ch. 17 - Would the following companies most likely use a...Ch. 17 - Would the following companies most likely use a...Ch. 17 - Would the following companies most likely use a...Ch. 17 - Would the following companies most likely use a...Ch. 17 - Prob. 6TI Ch. 17 - Record the following journal entries for Smith...Ch. 17 - Prob. 8TI Ch. 17 - Prob. 9TI Ch. 17 - Prob. 10TI

Ch. 17 - Prob. 11TI Ch. 17 - Prob. 12TI Ch. 17 - The following information pertains to Smith...Ch. 17 - Prob. 14TI Ch. 17 - Prob. 15TI Ch. 17 - Prob. 16TI Ch. 17 - Wesson Company is a consulting firm. The firm...Ch. 17 - Prob. 18TI Ch. 17 - Would an advertising agency use job order or...Ch. 17 - Prob. 2QC Ch. 17 - When a manufacturing company uses indirect...Ch. 17 - When a manufacturing company uses direct labor, it...Ch. 17 - Gell Corporation manufactures computers. Assume...Ch. 17 - Gell Corporation manufactures computers. Assume...Ch. 17 - Gell Corporation manufactures computers. Assume...Ch. 17 - Gell Corporation manufactures computers. Assume...Ch. 17 - A manufacturing company completed work on a job....Ch. 17 - For which of the following reasons would David...Ch. 17 - Why do managers need to know the cost of their...Ch. 17 - What types of companies use job order costing...Ch. 17 - What types of companies use process costing...Ch. 17 - What is the purpose of a job cost record?Ch. 17 - Explain the difference between cost of goods...Ch. 17 - A job was started on May 15, completed on June 27,...Ch. 17 - Give the journal entry for raw materials purchased...Ch. 17 - What is the purpose of the raw materials...Ch. 17 - How does the use of direct and indirect materials...Ch. 17 - Prob. 10RQ Ch. 17 - Give five examples of manufacturing overhead...Ch. 17 - What is the predetermined overhead allocation...Ch. 17 - What is an allocation base? Give some examples.Ch. 17 - How is manufacturing overhead allocated to jobs?Ch. 17 - A completed job cost record shows the unit cost of...Ch. 17 - Prob. 16RQ Ch. 17 - Give the journal entry for the completion of a...Ch. 17 - Prob. 18RQ Ch. 17 - Explain the difference between underallocated...Ch. 17 - If a company incurred 5,250 in actual overhead...Ch. 17 - Prob. 21RQ Ch. 17 - Explain the terms accumulate, assign, allocate,...Ch. 17 - Prob. 23RQ Ch. 17 - Prob. 24RQ Ch. 17 - Would the following companies most likely use job...Ch. 17 - Prob. 2SE Ch. 17 - Analyze the following T-accounts to determine the...Ch. 17 - Prob. 4SE Ch. 17 - Oak Outdoor Furniture manufactures wood patio...Ch. 17 - Job 303 includes direct materials costs of 550 and...Ch. 17 - Calculating predetermined overhead allocation...Ch. 17 - Lincoln Company completed jobs that cost 38,000 to...Ch. 17 - Columbus Enterprises reports the following...Ch. 17 - The T-account showing the manufacturing overhead...Ch. 17 - Adjusting Manufacturing Overhead Justice Companys...Ch. 17 - Prob. 12SE Ch. 17 - Prob. 13SE Ch. 17 - Prob. 14SE Ch. 17 - Prob. 15E Ch. 17 - Defining terminology Match the following terms to...Ch. 17 - Prob. 17E Ch. 17 - Goldenrod Company makes artificial flowers and...Ch. 17 - Selected cost data for Classic Print Co. are as...Ch. 17 - Prob. 20E Ch. 17 - Prob. 21E Ch. 17 - Prob. 22E Ch. 17 - Jordan Company has the following information for...Ch. 17 - Journalize the following transactions for Marges...Ch. 17 - Prob. 25E Ch. 17 - Analyze the following T-accounts, and determine...Ch. 17 - Prob. 27E Ch. 17 - Clement Manufacturing makes carrying cases for...Ch. 17 - Ki Technology Co. manufactures DVDs for computer...Ch. 17 - Superior Construction, Inc. is a home builder in...Ch. 17 - Accounting for manufacturing overhead Prestige...Ch. 17 - Mighty Stars produces stars for elementary...Ch. 17 - Bluebird Design, Inc. is a Web site design and...Ch. 17 - Sutherland Manufacturing makes carrying cases for...Ch. 17 - Ye Technology Co. manufactures DVDs for computer...Ch. 17 - Meadow Construction, Inc. is a home builder in...Ch. 17 - Accounting for manufacturing overhead Elegant...Ch. 17 - Hero Stars produces stars for elementary teachers...Ch. 17 - Skylark Design, Inc. is a Web site design and...Ch. 17 - Accounting for manufacturing overhead This problem...Ch. 17 - Granite Construction Incorporated is a major...Ch. 17 - Hiebert Chocolate, Ltd. is located in Memphis. The...Ch. 17 - Prob. 1FC

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Solution Summary: The author explains the terms used to assign direct labor costs to specific jobs, Labor Time Record, Materials Requisition, Job Cost Record and Process Costing System.

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