Work-in-Process Inventory—Cutting Balance, May 1 0 (a) Transfer out to Direct Materials 49,000 Direct Labor 9,000 Manufacturing Overhead 33,000 Balance, May 31 6,000 Work-in-Process Inventory—Finishing Balance, May 1 17,000 80,000 Transfer out to Transfer in from (b) Direct Materials 26,000 Direct Labor (c) Manufacturing Overhead 16,000 Balance, May 31 67,000 Work-in-Process Inventory—Packaging Balance, May 1 6,000 (d) Transfer out to Transfer in from (e) Direct Materials 6,000 Direct Labor 13,000 Manufacturing Overhead 14,000 Balance, May 31 19,000 Finished Goods Inventory Balance, May 1 0 (f) Transfer out to Transfer in from (g) Balance, May 31 12,000 Cost of Goods Sold Balance, May 1 0 Transfer in from (h) Balance, May 31 (i)
Work-in-Process Inventory—Cutting Balance, May 1 0 (a) Transfer out to Direct Materials 49,000 Direct Labor 9,000 Manufacturing Overhead 33,000 Balance, May 31 6,000 Work-in-Process Inventory—Finishing Balance, May 1 17,000 80,000 Transfer out to Transfer in from (b) Direct Materials 26,000 Direct Labor (c) Manufacturing Overhead 16,000 Balance, May 31 67,000 Work-in-Process Inventory—Packaging Balance, May 1 6,000 (d) Transfer out to Transfer in from (e) Direct Materials 6,000 Direct Labor 13,000 Manufacturing Overhead 14,000 Balance, May 31 19,000 Finished Goods Inventory Balance, May 1 0 (f) Transfer out to Transfer in from (g) Balance, May 31 12,000 Cost of Goods Sold Balance, May 1 0 Transfer in from (h) Balance, May 31 (i)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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Work-in-Process Inventory—Cutting
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Balance, May 1
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0
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(a)
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Transfer out to
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Direct Materials
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49,000
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Direct Labor
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9,000
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Manufacturing
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33,000
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Balance, May 31
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6,000
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Work-in-Process Inventory—Finishing
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|||||
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Balance, May 1
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17,000
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80,000
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Transfer out to
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Transfer in from
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(b)
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Direct Materials
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26,000
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||||
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Direct Labor
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(c)
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Manufacturing Overhead
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16,000
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Balance, May 31
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67,000
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Work-in-Process Inventory—Packaging
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|||||
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Balance, May 1
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6,000
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(d)
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Transfer out to
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Transfer in from
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(e)
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Direct Materials
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6,000
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||||
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Direct Labor
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13,000
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Manufacturing Overhead
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14,000
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Balance, May 31
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19,000
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||||
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Finished Goods Inventory
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|||||
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Balance, May 1
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0
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(f)
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Transfer out to
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Transfer in from
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(g)
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Balance, May 31
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12,000
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||||
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Cost of Goods Sold
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|||||
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Balance, May 1
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0
|
||||
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Transfer in from
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(h)
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Balance, May 31
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(i)
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Step 1 Introduction
VIEWStep 2 a. Computation of Transferred out to work in process inventory Finishing
VIEWStep 3 b. Computation of Direct labor used in work in process inventory Finishing
VIEWStep 4 c. Computation of transfer out to finished goods Inventory
VIEWStep 5 d. Computation of Inventory transfer out cost of goods sold
VIEWStep 6 e. Computation of closing balance of cost of goods sold
VIEWStep 7 Answer
VIEW
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