Skip to main content
Question

In January, Vaughn company requisitions raw materials for production as follows: Job 1 $930, Job 2 $1,200, Job 3 $770, and general factory use $700.

Prepare a summary journal entry to record raw materials used.

Expert Solution

Want to see the full answer?

Check out a sample Q&A here
Blurred answer
Students who’ve seen this question also like:
Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
Not helpful? See similar books
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Job Order Costing. 12EB
Similar questions
To this solution
Learn more about
Process Costing
marketing sidebar icon
Want to see this answer and more?
Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*
*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.

Related Accounting Q&A

Find answers to questions asked by students like you.

Q: In January, Reyes Tool & Die Company requisitions raw materials for production as follows: Job 1…

A: Given the following information: Job 1 Raw materials: $970 Job 2 Raw materials: $1,120 Job 3 Raw…

Q: On May 7, Bergan Company purchased on account 59,000 units of raw materials at $12.00 per unit.…

A: Total purchase = No. of units purchased x cost per unit = 59,000 units x $12.00 per unit = $708,000

Q: In January, Reyes Tool & Die requisitions raw materials for production as follows:   Job 1 $980,…

A: Journal entry is a process of recording the business transactions in the books of accounts for the…

Q: On May 7, Bergan Company purchased on account 59,600 units of raw materials at $11.00 per unit.…

A: Total amount of material requisitioned for production = [(24,000*$9) + (26,700*$11)]…

Q: In January, Dieker Company requisitions raw materials for production as follows: Job 1 $940, Job 2…

A: The preparation of the jobs costs sheet for the given jobs will be as provided below:

Q: On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During…

A: Materials purchased on account = 10,000 units x $8 per unit = $80,000. Requisition from the…

Q: On May 7, Jernigan Company purchased on account 700 units of raw materials at $21 per unit. During…

A: Journal entry is a process of recording the business transactions in the books of accounts for the…

Q: Information for Nichols Manufacturing Company for the month of May is as follows: Beginning work…

A: Answer :

Q: Rediger Inc., a manufacturing Corporation, has provided the following data for the month of June.…

A: Raw materials: It is the basic input required to manufacture the finished products. The raw…

Q: on August 4, Carrothers Company purchased on account 31,000 units of materials at $16 per unit.…

A: Inventory: Inventory refers to the goods which are available for sale and raw materials which are…

Q: During January, its first month of operations, Bridgeport Company accumulated the following…

A: Manufacturing costs are costs that are incurred for manufacturing or production of goods.

Q: Given the following selected account balances of Delray Mfg., prepare its schedule of cost of goods…

A: Complete producing value incorporates the expenses of all assets place into creation throughout the…

Q: During the current month, a company that uses job order costing purchases $50,000 in raw materials…

A: Click to see the answer

Q: Harrington Industries, which uses a process-costing system, had a balance in its Work-in-Process…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Solar World Incorporated is a job-order manufacturer. The company uses a predetermined overhead rate…

A: Computation of overhead rate per direct labor hour: Particulars Amount ($) Overhead cost…

Q: Hornsby has a single production department, and uses a process-costing system. The balance in its…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Hornsby has a single production department, and uses a process-costing system. The balance in its…

A: Under process costing, output of one process will become input for another process. When work in…

Q: In July, Noel & Vang Company purchased materials costing $23,100 and incurred direct labor cost…

A: Cost of goods manufactured: The cost of goods manufactured refers to the cost incurred for making a…

Q: In July, Noel & Vang Company purchased materials costing $23,100 and incurred direct labor cost of…

A: Click to see the answer

Q: The following data on materials purchased and issued during the month of June were shown: the cost…

A: 1) In case of FIFO, the issuance of material is considered from the material purchased earlier.…

Q: On November 1, Arvelo Corporation had $32,000 of raw materials on hand. During the month, the…

A: Given,  Total materials used = $95,000 Indirect materials used = $3,000   Direct materials used =…

Q: Bernard Incorporated uses a job-order costing system and a predetermined overhead rate based on…

A: The predetermined overhead rate is calculated as estimated overhead cost divided by estimated base…

Q: Bernard Incorporated uses a job-order costing system and a predetermined overhead rate based on…

A: The job order costing system is used to determine the cost of each product by those organizations…

Q: In March, Central& Die requisitions raw materials for production as follows: Job1 $900, Job 2…

A: Journal entry means the entry in prime book with chronological order. Journal entry should have…

Q: The chief cost accountant for Kenner Beverage Co. estimated that total factory overhead cost for the…

A: Note: Since we are entitled to answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit…

Q: During January, its first month of operations, Dieker Company accumulated the following…

A: Journal entry: It can be defined as the recording of financial events and transactions that have…

Q: The Polaris Company uses a job-order costing system. The following data relate to October, the first…

A: 1.Prepare journal entries:

Q: On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During…

A: The journal entry is prepared as follows:

Q: The chief cost accountant for Voltaire Beverage Co. estimated that total factory overhead cost for…

A: Given: Estimated Total factory overhead cost for the Blending Department = $130,000 Estimated Total…

Q: Hornsby has a single production department, and uses a process-costing system. The balance in its…

A: Financial statements are statements which states the business activities performed by the company .…

Q: ​In July, Noel & Vang Company purchased materials costing $23,100 and incurred direct labor cost…

A: Compute materials used in July production as shown below:

Q: In July, Noel & Vang Company purchased materials costing $23,100 and incurred direct labor cost of…

A: Cost of goods sold is the cost of goods manufactured adjusted with the beginning and ending finished…

Q: Haughton Company uses a job costing system for its production costs and a predetermined factory…

A: Hello, I am only answering first three subparts as per the policy and if you want other to be…

Q: The following information for the year ended December 31, 2020 is obtained from the books and…

A: Factory overhead includes all the costs which are incurred by the business during the production…

Q: On August 4, Rothchild Company purchased on account 12,000 units of raw materials at $14 per unit.…

A: Click to see the answer

Q: The Polaris Company uses a job-order costing system. The following data relate to October, the first…

A: 1. Prepare journal entries:

Q: During January, Dream House Builders, Inc. incurred $550 of actual indirect materials costs, as…

A: Click to see the answer

Q: Time tickets indicated 900 labor hours in the production of Job .115, out of which 600 were direct…

A: Journal entries are passed following the golden rules of accounting Debit all assets and expenses…

Q: In July, Econo Company purchased materials costing $18,400 and incurred direct labor costs of…

A: The cost of goods manufactured is calculated as factory cost plus changes in work in process…

Q: Morris Corp applies manufacturing overhead cost to Jobs (to the work in process account) at a rate…

A: Applied Overhead = Actual DLHs x Predetermined Overhead rate Applied Overhead = 5,000 DLHs x $50 per…

Q: During January, its first month of operations, Concord Company accumulated the following…

A: The job order costing system is the system where the costing for each job order is carried out…

Q: In June, Olympic Company purchased materials costing $38,000, and incurred direct labor cost of…

A: Cost of direct materials used = Beginning raw materials + Purchases - Ending raw materials Total…

Q: Beckett Industries has the following beginning and ending inventories for the month of April.…

A: Cost of goods sold  is the direct costs related with production process of goods and it includes…

Q: Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials…

A: Raw material consumed means opening stock of raw material plus purchases less closing stock of raw…

Q: Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials…

A: A cost sheet is a method of allocating total cost into different categories such as direct material…

Q: Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials…

A: Click to see the answer

Q: The following information is available for Lock-Tite Company, which produces special-order security…

A: Since we are entitled to answer up to 3 sub-parts, we’ll answer the first 3 schedules. Please…

Q: During the current month, Wacholz Company incurs the following manufacturing costs. (a)…

A: A journal entry is a means of recording all of a company's individual financial transactions in its…

Q: The Zoe Corporation has the following information for the month of March: Cost of direct materials…

A: Click to see the answer

Q: Broadwell Manufacturing Co. maintains the following accounts in the general ledger: Materials, Work…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Knowledge Booster
Accounting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
    Recommended textbooks for you
  • Principles of Accounting Volume 2
    Accounting
    ISBN:9781947172609
    Author:OpenStax
    Publisher:OpenStax College
    Principles of Cost Accounting
    Accounting
    ISBN:9781305087408
    Author:Edward J. Vanderbeck, Maria R. Mitchell
    Publisher:Cengage Learning
    Financial And Managerial Accounting
    Accounting
    ISBN:9781337902663
    Author:WARREN, Carl S.
    Publisher:Cengage Learning,
  • Managerial Accounting
    Accounting
    ISBN:9781337912020
    Author:Carl Warren, Ph.d. Cma William B. Tayler
    Publisher:South-Western College Pub
    College Accounting, Chapters 1-27
    Accounting
    ISBN:9781337794756
    Author:HEINTZ, James A.
    Publisher:Cengage Learning,
    Cornerstones of Cost Management (Cornerstones Ser...
    Accounting
    ISBN:9781305970663
    Author:Don R. Hansen, Maryanne M. Mowen
    Publisher:Cengage Learning
  • Principles of Accounting Volume 2
    Accounting
    ISBN:9781947172609
    Author:OpenStax
    Publisher:OpenStax College
    Principles of Cost Accounting
    Accounting
    ISBN:9781305087408
    Author:Edward J. Vanderbeck, Maria R. Mitchell
    Publisher:Cengage Learning
    Financial And Managerial Accounting
    Accounting
    ISBN:9781337902663
    Author:WARREN, Carl S.
    Publisher:Cengage Learning,
    Managerial Accounting
    Accounting
    ISBN:9781337912020
    Author:Carl Warren, Ph.d. Cma William B. Tayler
    Publisher:South-Western College Pub
    College Accounting, Chapters 1-27
    Accounting
    ISBN:9781337794756
    Author:HEINTZ, James A.
    Publisher:Cengage Learning,
    Cornerstones of Cost Management (Cornerstones Ser...
    Accounting
    ISBN:9781305970663
    Author:Don R. Hansen, Maryanne M. Mowen
    Publisher:Cengage Learning