Job 113 was completed at a cost of $4,700, and Job 85 was completed at a cost of $3,300 and sold on account for $4,300. Prepare journal entries for the following: If an amount box does not require an entry, leave it blank. A. Completion of Job 113. Finished Goods Inventory Work in Process Inventory B. Completion and sale of Job 85. Finished Goods Inventory Work in Process Inventory Cost of Goods Sold Finished Goods Inventory Accounts Receivable Sales 00

Job 113 was completed at a cost of $4,700, and Job 85 was completed at a cost of $3,300 and sold on account for $4,300. Prepare journal entries for the following: If an amount box does not require an entry, leave it blank. A. Completion of Job 113. Finished Goods Inventory Work in Process Inventory B. Completion and sale of Job 85. Finished Goods Inventory Work in Process Inventory Cost of Goods Sold Finished Goods Inventory Accounts Receivable Sales 00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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NOWV2 | Online teach x + O SOFTWARE UPDATE eAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress%3false macOS Big Sur 11.3.1 is available and will be in later tonight. O eBook Show Me How E Print Item Activity-Based Costing: Factory Overhead Costs The total factory overhead for Bardot Marine Company is budgeted for the year at $1,167,450, divided into four activities: fabrication, $507,000; assembly, $210,000; setup, $245,700; and inspection, $204,750. Bardot Marine manufactures two types of boats: speedboats and bass boats. The activity-base usage quantities for each product by each activity are as follows: Fabrication Assembly Setup Inspection Speedboat 9,750 dlh 31,500 dlh 70 setups 122 inspections Bass boat 29,250 10,500 515 853 39,000 dlh 42,000 dlh 585 setups 975 inspections Each product is budgeted for 5,500 units of production for the year. a. Determine the activity rates for each activity. Fabrication $ per direct labor hour Assembly 5 V per…
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dy Home CengageNOWv2| Online teachin x /takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Xander Studios holds a sculpting class for which it charges students $250. The costs consist of the following: Variable costs per student: Sculpting supplies $100 Enrollment costs 50 Fixed costs for the course: Instructor's salary $1,000 Rental cost of the classroom 500 The break-even number of students is Oa. 2 ОБ. 12 Oc. 20 Od. 11
ngageNOWv2 | Online teachin X + om/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress... € Compute conversion costs given the following data: direct materials, $363,600; direct labor, $192,400; factory overhead, $204,500 and selling expenses, $35,600. Oa. $396,900 Ob. $568.100 Oc. $168,900 Od. $760,500 8 5/2
Chrome-CengageNOWv2 | Online teaching and learning resource from Cengage Learning v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator%3D&inprogress3false Instructions Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 25,000 shares of preferred 2% stock $100 par and 500,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations: July Issued 220,000 shares of common stock at par for cash. 1. Issued 700 shares of common stock at par to an attorney in payment of legal fees for organizing the 1. corporation. Issued 68,700 shares of common stock in exchange for land, buildings, and equipment with fair Aug. 7. market prices of $153,800, $458,110 and $164,400 respectively. Issued 18,200 shares of preferred stock at $115 for cash. Sept. 20. Journalize the transactions. Refer to the Chart of Accounts for…
CengageNOWv2 | Online teachin x 2 MindTap - Cengage Learning * + https://v2.cengagenow.com/ilmn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession L... A Classwork eBook Cost of Materials Issuances Bravo Wire Enterprises is a manufacturer of electrical conductors. The following incomplete subsidiary ledger is for wire cable during July: a. Complete the materials issuances and balances for the wire cable subsidiary ledger. Assume a first-in, first-out cost flow. Received Receiving Report Number Received Quantity Received Unit Price Issued Materials Requisition Number Issued Quantity Issued Balance Amount Date Balance Quantity Balance Amount Balance Unit Price 309 200 $7.00 July 1 July 5 125 $750 $ 6.00 125 V 750 V 6.00 7401 240 July 10 422 400 $8.00 July 201 7639 325 July 26 b. Determine the balance of wire cable at the end of July, 1,280 c. Determine the total amount of materials transferred to Work in Process for July. 4.070 Check My Work Q Search 8 144 0 P…
1/1 ngageNOWv2 | Online teachirs X com/ilrn/takeAssignment/takeAssignmentMar.uo?invoker=&takeAssignmentSessionLocator=&inprogress=false 田) eBook Show Me How A production department within a company received materials of $10,000 and conversion costs of $11,000 from the prior department. It added material of $24,960 and conversion costs of $50,560. The equivalent units are 19,000 for material and 17,100 for conversion. What is the unit cost for materials and conversion? When required, round final answers to two decimal places. Unit Cost Materials Conversion $
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plem Set: Mod x * CengageNOW2| On x * Cengage Learning B Milestone Two Guidel x G module 5 problem se x+ ow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogres.. еBook Show Me How Determining Cost of Land On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $44,000 in cash and giving a short-term note for $272,000. Legal fees paid were $1,780, delinquent taxes assumed were $14,700, and fees paid to remove an old building from the land were $21,700. Materials salvaged from the demolition of the building were sold for $4,700. A contractor was paid $960,600 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet. Next Previous 3:20 PM Check My Work 11/28/2021 56 F
empt.php?attempt%3D1530301&cmid%3D800386&page%=D2 E-learning services SQU Libraries - SQU Portal Attendance English (en) Clear my choice COVID Co. produces two different products (A and X) using two different activities: Machining, which uses machine hours as an ed activity driver, and Inspection, which uses number of batches as an activity driver. The cost of Machining is $500,000, while the cost of Inspection is $30,000. Product A uses 30% of total machine hours out of question and 70% of total batches. What is the total ac cost assigned to product X? Select one: O a. None of the given ANSWER O b. $171,000 O c. $359,000 O d. $22,500 O e. $125,000 ous page Next page