Cost of Direc Materlals Used in Production for a Manufacturing Company Walker Manufacturing Company reported the following materials data for the month ending June 30. Materials purchased $845,700 Materials Inventory, June 1 238 500 Materials inventory, June 30 190,400 Determine the cost of airect materials usedn product Welker dutng the nionth ended June 3O.

Cost of Direc Materlals Used in Production for a Manufacturing Company Walker Manufacturing Company reported the following materials data for the month ending June 30. Materials purchased $845,700 Materials Inventory, June 1 238 500 Materials inventory, June 30 190,400 Determine the cost of airect materials usedn product Welker dutng the nionth ended June 3O.

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Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead

Section: Chapter Questions

Problem 11E: Making journal entries Assume that during the month of April the production report of Algonquin...

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1/1 gageNOWv2 | Online teachir X om/ilrn/takeAssignment/takeAssignmentMa.ao?invoker=&takeAssignmentSessionLocator=&inprogress=false 巴 | I eBook Overhead is assigned to the manufacturing department at the rate of $13 per machine hour. There were 3,200 machine hours during October in the shaping department and 2,300 in the packaging department. Prepare the journal entry to apply overhead to the manufacturing departments. If an amount box does not require an entry, leave it blank.
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gagenown/ilm/takeAssignment/takeAssignmentMain.do?invoker=&ta... A Q eBook Activity Fabrication Assembly Setup Inspecting Production scheduling Purchasing Activity Rate $24 per machine hour $13 per direct labor hour $50 per setup $28 per inspection $14 per production order $11 per purchase order The activity-base usage quantities and units produced for each product were as follows: Elliptical Machines Treadmill 1,687 419 53 Activity Base Machine hours Direct labor hours Setups Elliptical Machines Treadmill 4 Product Costs using Activity Rates Hercules Inc. manufactures elliptical exercise machines and treadmills. The products are produced in its Fabrication and Assembly production departments. In addition to production activities, several other activities are required to produce the two products. These activities and their associated activity rates are as follows: C 101 Print Item % 15 5 732 $ Inspections Production orders Purchase orders 198 Units produced 286 Use the activity rate…
ournal Entries and Simple Cost Sheet Based on the following information. you are réquired to preparc the following Journal entries b T-account for work in process c Simple cost sheets d. Proof of work in process inventory. end The Reuben Appliances Corp. started its operations in 200B It uses the job order costing method and has adopted the voucher system to effectively control the flowof resources. inventories and payables. The transactions for the first quarter of the year are as follows: ) Materials purchases on account. P 50.000 2) Materials issued: Job Order No. B-001 B-002. P 7,500 13.000 B-003 6.250 3) Indirect materials issued. P 5.250 4) Payroli charges include indirect labor of P7.800. Dircct labor costs are as follows Job Order No. B-001. P 5.300 8.000 B-002. .... B-003. 4.750 5) Factory overhead is charged to production at P3 per machine hour. Machine hours utilized are as follows: Job Order No. B-901..... B-002... 1,200 machine hours 2.050 machi.e hours 1.400 machine hours…
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Class Work - Word Sign in File Home Insert Draw Design Layout References Mailings Review View Help O Tell me what you want to do 요 Share 1 . . . ' ' .I .. 1 . I . . 2 .. I ... 3 . .. I . . 4 .. I . 5. . .I. . . 6 . . Comprehensive Problem Xavier Company produces a single product. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. The standard costs for one unit of product are as follows: Direct Material: 6 ounces at $0.5 per Ounce $3 Direct Labor: 1.8 hours at $10 per hour MOH: 1.8 hours at $5 per hour 18 Total Standard Variable Cost Per Unit $30 During June, 2,000 units were produced. The costs associated with June's operations were as follows: Materials Purchased: 18,000 ounces at $0.60 per ounce $10,800 Materials used in Production: 14,000 ounces Direct Labor: 4000 hours at $9.75 per hour --- $39,000 MOH Costs Incurred $20,800 Requirements: a. Compute the direct materials, direct labor, and variable manufacturing overhead variances both for…
Production and cost data Production and sales units Selling price (per unit) Materials (per unit) Labor (per unit) Manufacturing overheads Dept. A Standrad 192000 24000 $15 1.7 4.3 Dept. B Designer wear Number of machine set-ups 4 Marketing overheads $50 8 14.2 24 Engineering and PC Marketing and CS 745200 1296000 Use single-rate; direct method to allocate engineering and marketing overheads Engineering overheads include machine setting ($460,800) and inspection ($284,400) activities. Marketing involves channel ($496,000) and branding ($800,000) activities. The inspection and channel costs are driven by the number of units produced & sold. Computing product costs and profits under conventional and ABC approaches
ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmycstate.cincinnatistate.edu%252Fwebapps%252Fport Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system and applies overhead cost to jobs on the basis of machine-hours. At the beginning of the year, the company used a cost formula to estimate that it would incur $4,166,200 in manufacturing overhead cost at an activity level of 563,000 machine-hours. The company spent the entire month of January working on a large order for 12,500 custom-made machined parts. The company had no work in process at the beginning of January. Cost data relating to January follow: a. Raw materials purchased on account, $317,000. b. Raw materials used in production, $266,000 (80% direct materials and 20% indirect materials). c. Labor cost accrued in the factory, $153,000 (one-third direct labor and two-thirds indirect labor). d. Depreciation…
CengageNOWv2 | Online teachin x * Cengage Learning + n/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false еВook E Print Item Equivalent Units of Production: Weighted Average Cost Method The following information concerns production in the Finishing Department for May. The Finishing Department uses the weighted average cost method. ACCOUNT Work in Process-Finishing Department ACCOUNT No. Balance Date Item Debit Credit Debit Credit May 1 Bal., 25,400 units, 70% completed 101,600 31 Direct materials, 124,500 units 303,780 405,380 31 Direct labor 188,300 593,680 31 Factory overhead 191.400 785,080 31 Goods transferred, 132,100 units 755,612 29,468 31 Bal., 2 units, 30% completed 29,468 a. Determine the number of units in work in process inventory at the end of the month. units b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for May. Whole units units Equivalent units of…
elearn.squ.edu.om/mod/quiz/at ng services SQU Libraries SQU Portal Attendance En An accountant recently debited Work-in-Process Inventory and credited Manufacturing Overhead at a company that uses job order costing. The accountant was: Select one: O a. recognizing the completion of production. O b. recognizing actual overhead incurred during the period. O c. recognizing receipt of the factory utilities bill. O d. recording a year-end adjustment for an insignificant amount of underapplied overhead. O e. applying a predetermined overhead amount to production.