TB MC Qu. 3-160 (Static) The following partially completed T-accounts...The following partially completed T-accounts are for Stanford Corporation:Balance(1)(4)DebitDebitRaw Materials7,000 (2)19,000Sales Salaries ExpenseMultiple Choice11,000The cost of direct materials used is:$14,000$18,000$15.000$24,000CreditCredit24,000 Balance(2)(4)(6)DebitDebitWork In Precess11,000 (7)15,00018,00031,000Accounts PayableBalance(1)(5)CreditCredit7 Balance(7)19,0005,000DebitFinished GoodsDebit18,00062,00015,000Salaries and Wages PayableCreditBalance(4)Credit7,00037,000(2)(3)(4)(5)DebitManufacturing Overhead9,000 (6)16,0008,0005,000Credit31,000Accumulated Depreciation-FactoryDebitBalance(3)Credit82,00016,000

The materials used for the production include direct materials and indirect materials. The direct…

he following partially completed T-accounts are for Stanford Corporation: Balance (1) (4) Debit Debit Raw Materials 7,000 (2) 19,000 Sales Salaries Expense Multiple Choice 11,000 The cost of direct materials used is: $14,000 $18,000 O $15.000 $24,000 Credit Credit 24,000 Balance (2) (4) (6) Debit Debit Work In Process 11,000 (7) 15,000 18,000 31,000 Accounts Payable Balance (1) (5) Credit Credit ? 19,000 5,000 Bal (7)

he following partially completed T-accounts are for Stanford Corporation: Balance (1) (4) Debit Debit Raw Materials 7,000 (2) 19,000 Sales Salaries Expense Multiple Choice 11,000 The cost of direct materials used is: $14,000 $18,000 O $15.000 $24,000 Credit Credit 24,000 Balance (2) (4) (6) Debit Debit Work In Process 11,000 (7) 15,000 18,000 31,000 Accounts Payable Balance (1) (5) Credit Credit ? 19,000 5,000 Bal (7)

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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d Required information [The following information applies to the questions displayed below.] Use the following information: Department Service 1 (S1) Service 2 (52) Production 1 (P1) Production 2 (P2) P1 P2 Total Service Department 2's Costs Cost $ 121,000 53,000 435,000 306,000 $ 915,000 3/8 x 5/8 X Percentage Service Provided to S1 0% 20 52 20% 0 What percentage of S2's costs is allocated to P1 and to P2 under the direct method? (Round your answer to the nearest fraction.) P1 30% 20 P2 50% 60
Compute conversion costs given the following data: direct materials, $366,300; direct labor, $191,700; factory overhead, $208,000 and selling expenses, $48,200. Oa. $574,300 Ob. $159,800 Oc. $399,70o Od. $766.00o > ( Previous Next 3:23 PM 53°F Sunny A 12/14/2021 a %23 2)
quiz/attempt.php?attempt3D161993&cmid%3D90414 E1 Ray Items Cost Items Cost Raw materials, 1/1/2019 OMR 30,000 Insurance, factory OMR 14,000 Raw materials, 12/31/2019 20,000 Property taxes, factory building 6,000 Raw materials purchase during 2019 205,000 Sales revenue 1,500,000 Indirect materials 15,000 Delivery expenses 100,000 Work in process, 1/1/2019 80,000 Sales commissions 150,000 Work in process, 12/31/2019 50,000 Indirect labor 90,000 Finished goods, 1/1/2019 110,000 Factory machinery rent 40,000 Finished goods, 12/31/2019 120,000 Factory utilities 65,000 Direct labor 350,000 Depreciation, factory building 24,000 Factory manager's salary 35,000 Administrative expenses 300,000 Manufacturing overhead is: Select one:
b. Ending bala P7-4 The following transaction occurred in production department of NGV Company. 1. Direct material purchased on credit for P25,000 2. All material used in production department 3. Direct Labor cost incurred was P9,000 4. Overhead applied to production department was P22,000 5. Units completed were of worth P55,000 6. Unit sold were costing P45,500 195 CHAPTER 7 Just-in-Time and Backflusb Accounting Scanned with Camscamer NGV uses backflush costing method. Required: a. Calculate the finished goods inventory b. Compute the work in process inventory C. transactions. inventory acCOunt
TB MC Qu. 11-53 (Algo) Cordner Corporation has two production departments... Cordner Corporation has two production departments, P1 and P2, and two service departments, S1 and S2. Direct costs for each department and the proportion of service costs used by the various departments for the month of July are as follows: Proportion of Services Used by: Department Direct costs S1 S2 P1 P2 S1 $ 120,000 0.70 0.10 0.20 S2 $ 133,000 0.20 0.30 0.50 P1 $ 183,000 P2 $ 176,000 Under the step method of cost allocation, the amount of S2 costs allocated to S1 would be: Multiple Choice $55,200. $0. $26,600. $53,200.
Refer to the following data. Direct material used Selling costs Indirect labour Administrative costs $150 000 $5.000 $7.000 $10 000 Depreciation on factory equipment$70 000 Direct labour $40 000 Overtime premiums paid $20 000 Indirect materials $45 000 The conversion costs are: O a. $150 000. O b. $142 000. O c. $182 000. Od. $190 000.
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 $
When Zee Corporation produces 25,000 units, its fixed cost is $21.00 per unit. Zee's fixed cost will if it produces 20,000 units. а. remain at $21.00 per unit b. increase by $5.25 per unit С. increase by $26.25 per unit d. decrease to $16.80 per unit а. С ОБ. В с. D O d. A
3 ences Complete the following (assume $90,000 of overhead to be distributed): Note: Round the "Ratio" to 2 decimal places. Mc Graw Hill Department A Department B Square Feet -- 10,000 30,000 Ratio < Prev Amount of Overhead Allocated 9 of 10 ⠀ JUL 30 W Next E 4 R *** 6 A 8
E1-15 (Algo) Calculating Missing Amounts [LO 1-4] For each of the following independent cases (A to E), compute the missing values in the table: Case A B C U E Prime Cost Conversion Cost $ 9,540 $ 16,400 $ 55,600 110,100 48,950 Direct Materials 3,970 10,170 41,600 21,300 Direct Labor 7,320 12,050 14,300 Manufacturing Overhead $ 10,830 26,100 24,500 Total Manufacturing Cost 43,590 70,250 56,000
Account Activity and Relationships Each case is independent. Solve for missing data in alphabetical order. (Hint: Refer to Exhibit 18.6, p. 18-17 and the WIP table, p. 18-25.) Case A Case B Case C Case D Sales $425,000 Answer 550,000 Answer Direct materials 75,000 105,000 Answer 105,000 Direct labor 25,000 Answer 100,000 Answer Total direct costs Answer 160,000 Answer 150,000 Conversion cost Answer 130,000 Answer Answer Manufacturing overhead 40,000 Answer 50,000 Answer Current manufacturing costs Answer Answer 475,000 395,000 Work in process, beginning 35,000 50,000 Answer 105,000 Work in process, ending 25,000 Answer 105,000 Answer Cost of goods manufactured Answer 160,000 Answer 410,000 Finished goods inventory, beginning 45,000 40,000 35,000 60,000 Finished goods inventory, ending 30,000 Answer 40,000 Answer Cost of goods sold Answer 175,000 Answer 400,000 Gross profit…
of 2 ook sk -int rences N 124,011 F1 @ W Required information Problem 6-13A & 6-14A (Algo) [The following information applies to the questions displayed below.] Snow Mountain Equipment has 24 employees distributed among the following departments: Sales: 5 Factory: 12 Administration: 7 The total annual payroll for Snow Mountain Equipment is $900,000. Problem 6-14A (Algo) Required: Compute the labor distribution based on the number of employees per department. F2 Sales Factory Administration 3 E 15 80 F3 $ Q F4 % 5 K F7 *00 8 DII F8 ( 9 F9 C ) 7 F10