Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead . Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account. Requirement-1: To calculate: Amount of raw material transferred to work in progress Inventory account.

Question

Want to see the full answer?

Answer 1

Question

Chapter 2, Problem 8ME

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-1:

To calculate:

Amount of raw material transferred to work in progress Inventory account.

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-2:

To calculate:

Amount of material transferred to manufacturing overhead account.

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-3:

To calculate:

Find out the balance in the raw material inventory account?

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

??!!

General accounting

What are the total equivalent units?

Answer 2

Question

Chapter 2, Problem 8ME

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-1:

To calculate:

Amount of raw material transferred to work in progress Inventory account.

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-2:

To calculate:

Amount of material transferred to manufacturing overhead account.

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-3:

To calculate:

Find out the balance in the raw material inventory account?

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 2, Problem 8ME

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-1:

To calculate:

Amount of raw material transferred to work in progress Inventory account.

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-2:

To calculate:

Amount of material transferred to manufacturing overhead account.

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-3:

To calculate:

Find out the balance in the raw material inventory account?

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 2, Problem 8ME

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-1:

To calculate:

Amount of raw material transferred to work in progress Inventory account.

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-2:

To calculate:

Amount of material transferred to manufacturing overhead account.

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-3:

To calculate:

Find out the balance in the raw material inventory account?

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 2, Problem 8ME

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-1:

To calculate:

Amount of raw material transferred to work in progress Inventory account.

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-2:

To calculate:

Amount of material transferred to manufacturing overhead account.

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-3:

To calculate:

Find out the balance in the raw material inventory account?

Answer 6

Chapter 2, Problem 8ME

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-1:

To calculate:

Amount of raw material transferred to work in progress Inventory account.

Answer 7

Chapter 2, Problem 8ME

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-1:

To calculate:

Amount of raw material transferred to work in progress Inventory account.

Answer 8

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-2:

To calculate:

Amount of material transferred to manufacturing overhead account.

Answer 9

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-2:

To calculate:

Amount of material transferred to manufacturing overhead account.

Answer 10

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-3:

To calculate:

Find out the balance in the raw material inventory account?

Answer 11

To determine

Concept introduction:

Direct material cost relates to the material which use in production and direct labor cost means the labor which helps in making raw material into finished goods and other remaining expenses are manufacturing overhead.

Raw material which is directly attributable to a job is transferred to the work in progress account and the raw material which is commonly used in the production of all products is transferred to the manufacturing overhead account.

Requirement-3:

To calculate:

Find out the balance in the raw material inventory account?

Answer 12

Expert Solution & Answer

Answer 13

Expert Solution & Answer

Answer 14

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 15

Ch. 2 - What is the difference between job order and...Ch. 2 - What types of companies are likely to use job...Ch. 2 - What types companies are likely to use process...Ch. 2 - Many service industries use job order costing to...Ch. 2 - Prob. 5Q Ch. 2 - Prob. 6Q Ch. 2 - Prob. 7Q Ch. 2 - Prob. 8Q Ch. 2 - Prob. 9Q Ch. 2 - Prob. 10Q

Solution Summary: The author explains that direct material cost relates to the material which uses in production and direct labor cost means the labor which helps in making raw material into finished goods.

Videos

Want to see the full answer?

Chapter 2 Solutions