Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 4, Problem 5EA
Sterlings records show the work in process Inventory had a beginning balance of $4000 and an ending balance of $3,000. How much direct labor was incurred if the records also show :
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Sterling's records show the work in process inventory had a beginning balance of $3,000 and an ending balance of $4,000. How much direct labor was incurred if the records also show:
Materials used
$1,700
Overhead applied
500
Cost of goods manufactured
5,600
Sterling's records show the work in process inventory had a beginning
balance of $2,978 and an ending balance of $3,706. How much direct labor
was incurred if the records also show:
• Materials used $2,285
• Overhead applied $1,377
• Cost of goods manufactured $6,587
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Sterling's records show the work in process inventory had a beginning balance of $5,000 and an ending balance of $4,000. How much direct labor was incurred if the records also show:
Materials used
$1,600
Overhead applied
400
Cost of goods manufactured
7,700
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Chapter 4 Solutions
Principles of Accounting Volume 2
Ch. 4 - Which of the following product situations is...Ch. 4 - A job order costing system is most likely used by...Ch. 4 - Which of the following is a prime cost? A....Ch. 4 - Which of the following is a conversion cost? raw...Ch. 4 - During production, to what are the costs in job...Ch. 4 - Which document lists the inventory that will be...Ch. 4 - Which document shows the cost of direct materials,...Ch. 4 - Which document lists the total direct materials...Ch. 4 - Which document lists the total direct labor used...Ch. 4 - Assigning indirect costs to specific jobs is...
Ch. 4 - In a job order cost system, which account shows...Ch. 4 - In a job order cost system, raw materials...Ch. 4 - In a job order cost system, overhead applied is...Ch. 4 - In a job order cost system, factory wage expense...Ch. 4 - In a job order cost system, utility expense...Ch. 4 - In a job order cost system, indirect labor...Ch. 4 - The activity base for service industries is most...Ch. 4 - A printing company manufactures notebooks of...Ch. 4 - Burnham Industries incurs these costs for the...Ch. 4 - Chocos Chocolates incurs these costs for the...Ch. 4 - How do job order costing and process costing...Ch. 4 - Why are product costs assigned to the product and...Ch. 4 - Is the cost of goods manufactured the same as the...Ch. 4 - From beginning to end, place these items in the...Ch. 4 - How is the predetermined overhead rate determined?Ch. 4 - How is the predetermined overhead rate applied?Ch. 4 - Why are the overhead costs first accumulated in...Ch. 4 - Why is the manufacturing overhead account debited...Ch. 4 - Match the concept on the left to its correct...Ch. 4 - When compared to manufacturing companies, service...Ch. 4 - Little Things manufactures toys. For each item...Ch. 4 - Table 4.3 shows a list of expenses involved in the...Ch. 4 - Burnham Industries incurs these costs for the...Ch. 4 - Marzons records show raw materials Inventory had a...Ch. 4 - Sterlings records show the work in process...Ch. 4 - Logo Gear purchased $2,250 worth of merchandise...Ch. 4 - A company estimates its manufacturing overhead...Ch. 4 - Job order cost sheets show the following costs...Ch. 4 - A new company started production. Job 10 was...Ch. 4 - K company production was working on Job 1 and Job...Ch. 4 - A company has the following transactions during...Ch. 4 - During the month, Job AB2 used specialized...Ch. 4 - Job 113 was completed at a cost of $5,000, and Job...Ch. 4 - A companys Individual job sheets show these costs:...Ch. 4 - A summary of material requisition slips and time...Ch. 4 - Abuah Goods manufactures clothing. For each item...Ch. 4 - Chocos Chocolates incurs the following costs for...Ch. 4 - The table shows a list of expenses involved in the...Ch. 4 - Masonrys records show the raw materials inventory...Ch. 4 - Steinways records show their work in process...Ch. 4 - Langstons purchased $3,100 of merchandise during...Ch. 4 - A company estimates its manufacturing overhead...Ch. 4 - Job order cost sheets show the following costs...Ch. 4 - A new company started production. Job 1 was...Ch. 4 - Inez has the following information relating to Job...Ch. 4 - A company has the following information relating...Ch. 4 - A company has the following transactions during...Ch. 4 - During the month, Job Arch2 used specialized...Ch. 4 - Job 113 was completed at a cost of $7,500, and Job...Ch. 4 - A companys individual job sheets show these costs:...Ch. 4 - A summary of materials requisition slips and time...Ch. 4 - For each item listed, state whether a job order...Ch. 4 - York Company Is a machine shop that estimated...Ch. 4 - Pocono Cement Forms expects $900,000 in overhead...Ch. 4 - Job cost sheets show the following information:...Ch. 4 - Complete the information in the cost computations...Ch. 4 - During the year, a company purchased raw materials...Ch. 4 - Freeman Furnishings has summarized its data as...Ch. 4 - Coops Stoops estimated its annual overhead to be...Ch. 4 - MountaIn Peaks applies overhead on the basis of...Ch. 4 - The actual overhead for a company is $74,539....Ch. 4 - When setting its predetermined overhead...Ch. 4 - The following data summarize the operations during...Ch. 4 - The following events occurred during March for...Ch. 4 - A movie production studio incurred the following...Ch. 4 - For each item listed, state whether a job order...Ch. 4 - Rulers Company is a neon sign company that...Ch. 4 - Event Forms expects $120,000 in overhead during...Ch. 4 - Summary information from a companys job cost...Ch. 4 - Complete the information in the cost computations...Ch. 4 - During the year, a company purchased raw materials...Ch. 4 - Freeman Furnishings has summarized its data as...Ch. 4 - Queen Bees Honey, Inc., estimated its annual...Ch. 4 - Mountain Tops applies overhead on the basis of...Ch. 4 - The actual overhead for a company is $73,175....Ch. 4 - When setting its predetermined overhead...Ch. 4 - The following data summarize the operations during...Ch. 4 - The Following events occurred during March for...Ch. 4 - A leather repair shop incurred the following...Ch. 4 - Can a company use both job order costing and...Ch. 4 - If a job order cost system tracks the direct...Ch. 4 - What are the similarities in calculating the cost...Ch. 4 - If a company bases its predetermined overhead rate...Ch. 4 - How do the job cost sheets act as a subsidiary...Ch. 4 - How is a job order cost system used in a service...
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- Steinways records show their work in process Inventory had a beginning balance of $3,000 and an ending balance of $3,500. How much overhead was applied if the records also show the following:arrow_forwardDuring March, the following costs were charged to the manufacturing department: $14886 for materials; $14,656 for labor; and $13,820 for manufacturing overhead. The records show that 30,680 units were completed and transferred, while 2,400 remained in ending inventory. There were 33,080 equivalent units of material and 31,640 of conversion costs. Using the weighted-average method, what is the cost of inventory transferred and the balance in work in process inventory?arrow_forwardThe 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 forarrow_forward
- Assume the following information from a schedule of cost of goods manufactured: Beginning work in process inventory $ 30,000Direct materials used in production $ 50,000Direct labor $ 60,000Total manufacturing costs to account for $ 207,000Ending work in process inventory $ 72,000 What is the manufacturing overhead applied to work in process?arrow_forwardA schedule of cost of goods manufactured shows:a. Materials used, P600,000b. Direct labor, 1,600,000c. Overhead costs, P 1,280,000d. Work in process, ending inventory, P280,000Compute for (1) the rate of factory overhead to direct labor cost, and (2) the direct materialsincluded in the work in process inventory, assuming that the direct labor in the work in processis P100,000. a. (1) 80% ; (2) P80,000b. (1) 125% ; (2) P60,000c. (1) 80% ; (2) P100,000d. (1) 125% ; (2) P100,000arrow_forwardThe Work in Process Inventory account had a beginningbalance of $4,200 on February 1. During February, the costof direct materials used was $29,000 and direct labor costassigned to production was $3,000. $3,600 of overhead wasassigned. If the cost of finished goods manufactured was $34,100, compute the balance in the Work in Process Inven-tory account at the end of February. a. $9,900. c. $2,100.b. $1,500. d. $5,700.arrow_forward
- Sterling's records show the work in process inventory had a beginning balance of $4,000 and an ending balance of $3,000. The records also showed the following data for the month: Materials used Overhead applied Cost of goods manufactured $1,500 50 7,500 Entry labels available for this problem: Beginning inventory Manufacturing costs incurred Materials available for use Overhead applied Ending inventory Materials used in production Cost of goods manufactured Direct labor Purchases Using the entry labels listed above, complete the following T-account to determine how much direct labor was incurred during the month? PLEASE NOTE: You must enter the entry labels exactly as written above and all entry amounts will be rounded to whole dollar amounts with "$" and commas as needed (i.e. $12,345). If no entry label is needed, please use "None" and if no entry amount is needed, please use "$0" - no quotation marks for either. You are to fill in cells beginning at the top of the T-account with any…arrow_forwardAssume the following information from a schedule of cost of goods manufactured: Beginning work in process inventory $ 30,000 Total manufacturing costs added to production $ 200,000 Ending work in process inventory $ 44,000 What is the cost of goods manufactured?arrow_forwardAnswer the following questions by analysing the T-accounts given below. a) Purchases of direct material b) The cost of direct material used c) Why does direct labor account has a credit balance of $5000? Explain d) Direct labor costs assigned to production e) The overhead as a percentage of direct labor costs f) Total manufacturing costs charged to the Work in Process Inventory account during the current year g) The cost of finished goods manufactured h) The year-end balance in the Work in Process Inventory account i) The cost of goods sold j) The total amount of inventory listed in the hear-end balance sheet k) Manufacturing overhead assigned to productionarrow_forward
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