Multiple choice 11. Selected accounts with some debits and credits omitted are presented asfollows:Work in Process7,000 Apr. 30 Goods finished78,400195,000136,500Apr. 1 Balance30 Direct materials30 Direct labor15.30 Factory overheadFinished Goods42,000Apr. 1 Balance31 Goods finished387,000What was the balance of Work in Process as of April 30?a. P8,100b. P35,000C. P29,900d. P22,900

Working: Amount (P) Opening balance 7,000 Add: Direct material…

11. Selected accounts with some debits and credits omitted are presented as follows: Work in Process 7,000 Apr. 30 Goods finished 78,400 195,000 Apr. 1 Balance 30 Direct materials 30 Direct labor 30 Factory overhead 136,500 Finished Goods Apr. 1 Balance 31 Goods finished 42,000 387,000 What was the balance of Work in Process as of April 30? a. P8,100 b. P35,000 C. P29,900 d. P22,900

11. Selected accounts with some debits and credits omitted are presented as follows: Work in Process 7,000 Apr. 30 Goods finished 78,400 195,000 Apr. 1 Balance 30 Direct materials 30 Direct labor 30 Factory overhead 136,500 Finished Goods Apr. 1 Balance 31 Goods finished 42,000 387,000 What was the balance of Work in Process as of April 30? a. P8,100 b. P35,000 C. P29,900 d. P22,900

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 27E: Selected information concerning the operations of a company for the year ended December 31 is as...

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Amounts for materials Big Timber Furniture Company manufactures furniture. Big Timber Furniture uses a job order cost system. Balances on June 1 from the materials ledger are as follows: The materials purchased during June are summarized from the receiving reports as follows: Materials were requisitioned to individual jobs as follows: The glue is not a significant cost, so it is treated as indirect materials (factory overhead). a.Determine the total purchase of materials in June. b.Determine the amounts of materials transferred to Work in Process and Factory Overhead during June. c.Determine the June 30 balances that would be shown in the materials ledger accounts.
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Refer to the data in Problem 6.31. Assume that the FIFO method is used. Required: 1. Prepare a physical flow schedule. 2. Calculate equivalent units of production for direct materials and conversion costs. 3. Compute unit cost. Round to three decimal places. 4. Calculate the cost of goods transferred to Painting at the end of the month. Calculate the cost of ending inventory.
Selected accounts with a credit amount omitted are as follows Work in Process Apr. 1 Balance 7,100 Apr. 30 Goods finished X 30 Direct materials 63,000 30 Direct labor 192,400 30 Factory overhead 57,720 Finished Goods Apr. 1 Balance 12,700 30 Goods finished 303,900 What was the balance of Work in Process as of April 30? a.$12,700 b.$16,320 c.$57,720 d.$303,900
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