Horngren's Accounting, The Financial Chapters, Student Value Edition Plus MyLab Accounting with Pearson eText - Access Card Package (12th Edition)
12th Edition
ISBN: 9780134642949
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 19, Problem 9QC
A manufacturing company completed work on a job. The cost of the job is transferred into ________ with a _______.
Learning Objective 4
- Work-in-Process Inventory; debit
- Finished Goods Inventory; credit
- Finished Goods Inventory; debit
- Cost of Goods Sold; credit
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Please avoid solutions in image format thank you
In a job order cost system, a credit to Work in Process Inventory will be accompanied by a debit to: *
Chapter 19 Solutions
Horngren's Accounting, The Financial Chapters, Student Value Edition Plus MyLab Accounting with Pearson eText - Access Card Package (12th Edition)
Ch. 19 - Prob. 1QCCh. 19 - When a manufacturing company uses direct...Ch. 19 - When a manufacturing company uses indirect...Ch. 19 - When a manufacturing company uses direct labor, it...Ch. 19 - What is Gell's predetermined overhead allocation...Ch. 19 - What is Gell's actual manufacturing overhead cost?...Ch. 19 - How much manufacturing overhead would Gell...Ch. 19 - What entry would Gell make to adjust the...Ch. 19 - A manufacturing company completed work on a job....Ch. 19 - Prob. 10QC
Ch. 19 - Why do managers need to know the cost of their...Ch. 19 - What types of companies use job order costing...Ch. 19 - What types of companies use process costing...Ch. 19 - What is the purpose of a job cost record?Ch. 19 - Explain the difference between cost of goods...Ch. 19 - A job was started on May 15, completed on June 27,...Ch. 19 - Give the journal entry for raw materials purchased...Ch. 19 - What is the purpose of the raw materials...Ch. 19 - How does the use of direct and indirect materials...Ch. 19 - Give the journal entry for direct and indirect...Ch. 19 - Give five examples of manufacturing overhead...Ch. 19 - What is the predetermined overhead allocation...Ch. 19 - What is an allocation base? Give some examples.Ch. 19 - How is manufacturing overhead allocated to jobs?Ch. 19 - A completed job cost record shows the unit cost of...Ch. 19 - Explain the journal entry for the allocation of...Ch. 19 - Give the journal entry for the completion of a...Ch. 19 - Why does the sale of a completed job require two...Ch. 19 - Prob. 19RQCh. 19 - If a company incurred $5,250 in actual overhead...Ch. 19 - Refer to the previous question. Give the journal...Ch. 19 - Explain the terms accumulate, assign, allocate,...Ch. 19 - Why would the manager of a service company need to...Ch. 19 - How is the predetermined overhead allocation rate...Ch. 19 - Distinguishing between job order costing and...Ch. 19 - Accounting for materials Back Country manufactures...Ch. 19 - Accounting for materials Learning Objective 2...Ch. 19 - Accounting for labor Learning Objective 2...Ch. 19 - Accounting for overhead Learning Objective 3 Oak...Ch. 19 - Allocating overhead Learning Objective 3 Job 303...Ch. 19 - Calculating predetermined overhead allocation...Ch. 19 - Completing and selling products Learning Objective...Ch. 19 - Comparing actual to allocated overhead Learning...Ch. 19 - Calculating under/overallocated overhead Learning...Ch. 19 - Prob. S19.11SECh. 19 - Prob. S19.12SECh. 19 - Prob. S19.13SECh. 19 - Prob. S19.14SECh. 19 - Distinguishing between job order costing and...Ch. 19 - Defining terminology Learning Objectives 1,2 Match...Ch. 19 - E19-17 Accounting for job costs
Learning Objective...Ch. 19 - E19-18 Recording materials and labor...Ch. 19 - Prob. E19.19ECh. 19 - Allocating and adjusting manufacturing overhead...Ch. 19 - Prob. E19.21ECh. 19 - Prob. E19.22ECh. 19 - Prob. E19.23ECh. 19 - Preparing job order costing journal entries...Ch. 19 - Prob. E19.25ECh. 19 - E19-26 Determining missing amounts
Learning...Ch. 19 - Prob. E19.27ECh. 19 - Prob. P19.28APGACh. 19 - Prob. P19.29APGACh. 19 - Prob. P19.30APGACh. 19 - Prob. P19.31APGACh. 19 - Prob. P19.32APGACh. 19 - Prob. P19.33APGACh. 19 - Prob. P19.34BPGBCh. 19 - Prob. P19.35BPGBCh. 19 - Prob. P19.36BPGBCh. 19 - Prob. P19.37BPGBCh. 19 - Prob. P19.38BPGBCh. 19 - Using job order costing in a service company...Ch. 19 - Using Excel to calculate a predetermined overhead...Ch. 19 - P19-41 Accounting for manufacturing overhead
This...Ch. 19 - Prob. 19.1TIATCCh. 19 - Prob. 19.1DCCh. 19 - Prob. 19.1FC
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- During the accounting period, Work in Process Inventory will be debited for Sales Salaries Work sent to Completed Goods DirectLabor Costsarrow_forwardAccount Titles and Explanation Debit Credit Direct Materials Inventory 583000 Accounts Payable 58300 (To record purchase of direct materials) Manufacturing Overhead 132000 (10 recora appiiea manuracturing overnead) Supplies Inventory 13200 7. Finished Goods Inventory 2410000 (To record use of indirect materials in production) Work in Process Inventory 569000 Work in Process Inventory 241000 56900 (To record transfer of completed goods to Finished Goods Inventory) Direct Materials Inventory (To record use of direct materials in production) 8. Cost of Goods Sold 2398000 Work in Process Inventory 791000 Wages Payable 79100 Finished Goods Inventory 239800 (To record direct labor payroll) (To record cost of goods sold for the period) Manufacturing Overhead 690000 Accounts Payable 690001 (To record actual manufacturing overhead) Work in Process Inventory 1071000 Manufacturing Overhead 107100arrow_forwardThe purchase of manufacturing supplies is normally recorded as a debit to Group of answer choices raw materials inventory administrative expenses work in process manufacturing overheadarrow_forward
- Please show formulas and explain.arrow_forwardInfo in images 2. Post your entries to T-accounts. (Don’t forget to enter the beginning inventory balances above.) Accounts Receivable Sales Beg. Bal. Beg. Bal. End. Bal. End. Bal. Raw Materials Cost of Goods Sold Beg. Bal. Beg. Bal. End. Bal. End. Bal. Work in Process Manufacturing Overhead Beg. Bal. Beg. Bal. End. Bal. End. Bal. Finished Goods Advertising Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Accumulated Depreciation Utilities Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Accounts Payable Salaries Expense Beg. Bal.…arrow_forwardProblem 2 Instruction: Indicate what particular column in the worksheet where the following items are to be extended. Place a "check mark" Items Manufacturing Income Statement Balance Sheet Dr. Cr. Dr. Cr. Dr. Cr. FG, beg. FG, end. Goods in Process, beg Goods in Process, 1. 2. 3. 4. end RM, beg RM, end Factory Supplies Inv. Factory Supplies Used 5. 6. 7. 8. 9. Salaries-Office 10. Salaries-Factory 11. Repairs-Office Eqpt. 12. Repairs-Factory Eqpt. 13. Light and Water- Office 14. Light and Water- Factory 15. Tools Used 16. Patents 17. Amortization of Patents 18. Purchases - RM 19. Freight-in 20. Salesarrow_forward
- Multiple choicearrow_forwardCurrent Attempt in Progress When a job or goods are completed, O its cost is removed from the Work in Process Inventory account and added to Cost of Goods Sold. O the Finished Goods account is debited and the Work in Process Inventory account is credited. O the Cost of Goods Sold account is debited and the Work in Process account is credited. O its costs are removed from the Finished Goods account and added to Cost of Goods Sold. eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answerarrow_forwardwhat is the d. proof of WIP inventory, end?arrow_forward
- Which document lists the inventory that will be removed from the raw materials inventory? A. job cost sheet B. purchase order C. materials requisition form D. receiving documentarrow_forwardIn a job order cost system, raw materials purchased are debited to which account? A. raw materials inventory B. work in process inventory C. finished goods inventory D. cost of goods soldarrow_forwardZoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March 1 6,000 Materials inventory, March 31 8,000 Direct labor 25,000 Factory overhead 37,000 Work in process inventory, March 1 7.000 Work in process inventory, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Sales and administrative expenses 79,000arrow_forward
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