Beginning Inventory Ending Inventory Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory $ 56,000 143,500 $ 67,150 110,500 163,300 40,100 91,500 28,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching Direct labor Direct labor-Cutting Direct labor-Stitching $ 20,600 82,400 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs Factory Overhead Rates Cutting Stitching $ 75,000 24,250 $ 39,600 57,000 57,000 0 150% of direct materials used 120% of direct labor used Sales Journal entry worksheet ints < 1 eBook $ 656,000 5 6 7 8 9 11 > Record transfer of goods from the Cutting department to the Stitching department. References Note: Enter debits before credits. Date General Journal Debit Credit May 31 Work in process inventory-Stitching Work in process inventory-Cutting Record entry Clear entry View general journal
Beginning Inventory Ending Inventory Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory $ 56,000 143,500 $ 67,150 110,500 163,300 40,100 91,500 28,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching Direct labor Direct labor-Cutting Direct labor-Stitching $ 20,600 82,400 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs Factory Overhead Rates Cutting Stitching $ 75,000 24,250 $ 39,600 57,000 57,000 0 150% of direct materials used 120% of direct labor used Sales Journal entry worksheet ints < 1 eBook $ 656,000 5 6 7 8 9 11 > Record transfer of goods from the Cutting department to the Stitching department. References Note: Enter debits before credits. Date General Journal Debit Credit May 31 Work in process inventory-Stitching Work in process inventory-Cutting Record entry Clear entry View general journal
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter2: Accounting For Materials
Section: Chapter Questions
Problem 13P: Webster Company uses backflush costing to account for its manufacturing costs. The trigger points...
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