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.
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.
Want to see the full answer?
Check out a sample Q&A here
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.
