Homework Answers
Calculation of Raw Material used:
Raw Material Used = Opening Inventory of Raw Material + Raw Material Purchased - Closing Inventory of Raw Material
= $8200 + $33000 - $4600
= $36600
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Compute the amount of raw materials used during November if $33,000 of raw materials were purchased...
Compute the amount of raw materials used during November if $34,500 of raw materials were purchased...
Compute the amount of raw materials used during November if $34,500 of raw materials were purchased during the month and if the inventories were as follows: Inventories Raw materials Work in process Finished goods Balance November 1 $ 8,800 $ 6,900 $19,900 Balance November 30 $ 4,900 $ 8,400 $12,900 Multiple Choice $36,000 $34.900 $32.400 $38.400
1. Compute the amount of raw materials used during November if $39,000 of raw materials were...
1.
Compute the amount of raw materials used during November if
$39,000 of raw materials were purchased during the month and if the
inventories were as follows:
Inventories
Balance
November 1
Balance
November 30
Raw materials
$
10,600
$
5,800
Work in process
$
7,800
$
9,300
Finished goods
$
11,800
$
13,800
2.
Time Remaining 1 hour 54 minutes 40 seconds
01:54:40
Item 10
Item 10
Time Remaining 1 hour 54 minutes 40 seconds
01:54:40
During March, Pendergraph Corporation...
On November 1. Arvelo Corporation had $32,000 of raw materials on hand. During the month the...
On November 1. Arvelo Corporation had $32,000 of raw materials on hand. During the month the company purchased an additional $78.000 of raw materials. During November $95.000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $3.000. Prepare journal entries to record these events. Use those journal entries to answer the following questions: The credits to the Work in Process account as a consequence...
The Duerr Company manufactures a single product. All raw materials used are traceable to specific units...
The Duerr Company manufactures a single product. All raw materials used are traceable to specific units of product Current information for the Duerr Company follows: 8 00 20:45 Beginning raw materials inventory Ending raw materials inventory Raw material purchases Beginning work in process inventory Ending work in process inventory Direct labor Total factory overhead Beginning finished goods inventory Ending finished goods inventory $ 22,980 25,000 99,000 34,000 44,000 124,000 99,000 74,000 54,000 The company's cost of raw materials used, cost...
5 Use the following information to compute the cost of direct materials used for the current...
5 Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials Inventory account is used only for direct materials. (Assume no indirect materials.) January 1 December 31 12.5 points Inventories Raw materials inventory Work in process inventory Finished goods inventory Activity during current year Materials purchased Direct labor Factory overhead $ 7,500 13,600 9,300 $ 10,000 10,600 7,500 eBook References $130,000 102,300 41,400 Cost of Direct Material Used is Computed...
Prepare Journal Entries for 1. Raw materials were purchased on account: $236000 2. Raw materials were...
Prepare Journal Entries for
1. Raw materials were purchased on account: $236000
2. Raw materials were requisitioned for use in production:
$208,000 (85% direct and 15% indirect)
3. Record the costs that were incurred for employee
services.
4. Heat, power, and water costs were incurred in the factory:
$50,100.
5. Prepaid insurance expired during the year: $19,000 (80%
relates to factory operations, and 20% relates to selling and
administrative activities).
6. Advertising costs were incurred, $59,000.
7. Depreciation was recorded...
The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year: Raw Materials Credit...
The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year: Raw Materials Credit Debit Beginning Balance 8,800 4,900 5,100 Work in Process Credit Debit Beginning Balance 22,100 4,000 6,100 8,400 8,200 Finished Goods Credit Debit Beginning Balance 20,300 2,100 22,100 Manufacturing Overhead Debit Credit 8,200 2,700 3,400 3,100 Debit Wages & Salaries Payable Credit 20,300 Beginning Balance 2,400 11,800 Cost of Goods Sold Debit Credit 20,300 The direct materials cost was: Multiple Choice O $8,800 $4,000 $6,100...
8 Use the following information to compute the cost of direct materials used for the current...
8 Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory account is used only for direct materials. (Assume no indirect materials.) 125 points January 1 December 31 $ 7,500 13,800 9.400 Inventories Raw materials inventory Work in process inventory Finished goods inventory Activity during current year Materials purchased Direct labor Factory overhead $ 11,200 9,800 6,600 eBook References $129,000 101,600 41,100 Cont of Direct Material Used is Computed...
Andrew Industries purchased $166,000 of raw materials on account during the month of March. The beginning...
Andrew Industries purchased $166,000 of raw materials on account during the month of March. The beginning Raw Materials Inventory balance was $22,200, and the materials used to complete jobs during the month were $141,900 of direct materials and $13,100 of indirect materials. What is the ending Raw Materials Inventory balance for March? Multiple Choice $11,200. $46,300. $33,200. $9,100. $24,100.
Gullett Corporation had $43,000 of raw materials on hand on November 1. During the month, the...
Gullett Corporation had $43,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additional $92,000 of raw materials. The Journal entry to record the purchase of raw materials would include a: Multiple Choice 9.29 debit to Raw Materials of $135,000 debit to Row Materials of $92,000 credit to Raw Materials of $135,000 credit to Raw Materials of $92,000
Compute the amount of raw materials used during November if $34,500 of raw materials were purchased during the month and if the inventories were as follows: Inventories Raw materials Work in process Finished goods Balance November 1 $ 8,800 $ 6,900 $19,900 Balance November 30 $ 4,900 $ 8,400 $12,900 Multiple Choice $36,000 $34.900 $32.400 $38.400
1.
Compute the amount of raw materials used during November if
$39,000 of raw materials were purchased during the month and if the
inventories were as follows:
Inventories
Balance
November 1
Balance
November 30
Raw materials
$
10,600
$
5,800
Work in process
$
7,800
$
9,300
Finished goods
$
11,800
$
13,800
2.
Time Remaining 1 hour 54 minutes 40 seconds
01:54:40
Item 10
Item 10
Time Remaining 1 hour 54 minutes 40 seconds
01:54:40
During March, Pendergraph Corporation...
On November 1. Arvelo Corporation had $32,000 of raw materials on hand. During the month the company purchased an additional $78.000 of raw materials. During November $95.000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $3.000. Prepare journal entries to record these events. Use those journal entries to answer the following questions: The credits to the Work in Process account as a consequence...
The Duerr Company manufactures a single product. All raw materials used are traceable to specific units of product Current information for the Duerr Company follows: 8 00 20:45 Beginning raw materials inventory Ending raw materials inventory Raw material purchases Beginning work in process inventory Ending work in process inventory Direct labor Total factory overhead Beginning finished goods inventory Ending finished goods inventory $ 22,980 25,000 99,000 34,000 44,000 124,000 99,000 74,000 54,000 The company's cost of raw materials used, cost...
5 Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials Inventory account is used only for direct materials. (Assume no indirect materials.) January 1 December 31 12.5 points Inventories Raw materials inventory Work in process inventory Finished goods inventory Activity during current year Materials purchased Direct labor Factory overhead $ 7,500 13,600 9,300 $ 10,000 10,600 7,500 eBook References $130,000 102,300 41,400 Cost of Direct Material Used is Computed...
Prepare Journal Entries for
1. Raw materials were purchased on account: $236000
2. Raw materials were requisitioned for use in production:
$208,000 (85% direct and 15% indirect)
3. Record the costs that were incurred for employee
services.
4. Heat, power, and water costs were incurred in the factory:
$50,100.
5. Prepaid insurance expired during the year: $19,000 (80%
relates to factory operations, and 20% relates to selling and
administrative activities).
6. Advertising costs were incurred, $59,000.
7. Depreciation was recorded...
The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year: Raw Materials Credit Debit Beginning Balance 8,800 4,900 5,100 Work in Process Credit Debit Beginning Balance 22,100 4,000 6,100 8,400 8,200 Finished Goods Credit Debit Beginning Balance 20,300 2,100 22,100 Manufacturing Overhead Debit Credit 8,200 2,700 3,400 3,100 Debit Wages & Salaries Payable Credit 20,300 Beginning Balance 2,400 11,800 Cost of Goods Sold Debit Credit 20,300 The direct materials cost was: Multiple Choice O $8,800 $4,000 $6,100...
8 Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory account is used only for direct materials. (Assume no indirect materials.) 125 points January 1 December 31 $ 7,500 13,800 9.400 Inventories Raw materials inventory Work in process inventory Finished goods inventory Activity during current year Materials purchased Direct labor Factory overhead $ 11,200 9,800 6,600 eBook References $129,000 101,600 41,100 Cont of Direct Material Used is Computed...
Gullett Corporation had $43,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additional $92,000 of raw materials. The Journal entry to record the purchase of raw materials would include a: Multiple Choice 9.29 debit to Raw Materials of $135,000 debit to Row Materials of $92,000 credit to Raw Materials of $135,000 credit to Raw Materials of $92,000
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