Record the journal entries for the following transactions: March 10: 500 units of raw materials were purchased on account at $6.00 per unit. March 15: 400 units of raw materials were requisitioned at $6.50 per unit for production, Job 872. March 25: 300 units of raw materials were requisitioned at $6.00 per unit for production, Job 879.   March 10   fill in the blank 2         fill in the blank 4 March 15   fill in the blank 6         fill in the blank 8 March 25   fill in the blank 10         fill in the blank 12

Q: 4. The production department of a factory furnishes the following information for the month of…

A: Overhead refers to the continuing expenditures of running a firm, although it does not include the…

Q: Required: 1. Prepare a job cost sheet for each job worked on during the month. Job No. 136 Job No.…

A: Job costing is one of the form of costing in which all costs are assigned and reviewed on the basis…

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

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

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

A: In any business, first materials is purchased from a party and then as per the requisition of…

Q: n January​ 1, Standard Manufacturing had a beginning balance in Work−in−Process Inventory of $81,500…

A: The profit a company makes after deducting all costs associated with manufacturing and selling its…

Q: Compute the amount of raw materials used during August if Rs.700,000 of raw materials were purchased…

A: Raw Materials used: Raw materials used are determined by the addition of the beginning inventory and…

Q: During June at XYZ company, OMR 85,000 of raw materials were requisitioned from the storeroom for…

A: The correct answer is  A. Credit to Raw materials of OMR 85000.

Q: At the end of August, Carrothers Company had completed Jobs 50 and 56. Job 50 is for 1,000 units,…

A: The cost sheet is prepared by the management in identifying the total amount and cost per unit…

Q: Issuance of materials  On May 7, Calypso Company purchased on account 10,000 units of raw materials…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

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: Journalize the entries to record the following transactions: 1. Mar. 10: 400 units of raw materials…

A: Raw materials purchases are debited to Raw materials Account and then later credited to WIP when…

Q: Starr Company reports the following information for August.          Raw materials purchased on…

A: Journal Entry: A journal entry, in accounting, is the logging of a transaction in an accounting…

Q: During June at XYZ company, OMR 85,000 of raw materials were requisitioned from the storeroom for…

A: Direct material = Total material-Indirect material=OMR 85,000-OMR 7,000=OMR 78,000

Q: a. Purchased raw materials on credit, $220,000. b. Materials requisitions record use of the…

A: Solution:   Job No. 136 Job No. 137 Job No. 138 Job No. 139 Job No. 140 Materials $48,500.00…

Q: Compute the amount of raw materials used during November if $30,000 of raw materials were purchased…

A: Raw material used during November = Beginning Inventory + Raw material purchased during the month -…

Q: Information on Kwon Manufacturing's activities for its first month of operations follows: a.…

A: The direct costs includes direct materials, direct labor and factory overhead applied costs. The…

Q: Widmer Watercraft’s predetermined overhead rate is 200% of direct labor. Information on the…

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

Q: Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw…

A: Direct material and direct labour are direct costs that are incurred in manufacturing of the…

Q: a. Purchased raw materials on credit, $200,000. b. Materials requisitions record use of the…

A: Job cost sheet:Job cost sheet is a document which is used to record manufacturing costs. It is…

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

A: Materials requisitioned are debited to Work in process to calculate the cost of goods.  The 1,480…

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

A: The question is based on the concept of Cost Accounting.

Q: At the end of May, Lockmiller Company had completed Jobs 275 and 310. Job 275 is for 5,000 units,…

A: Estimated manufacturing overhead rate= $867,000/102,000= $8.5

Q: Journalize the entries to record the following transactions: Mar. 10: 500 units of raw materials…

A: A journal entry is made to record the financial transaction in the books of accounts.

Q: During June at XYZ company, OMR 85,000 of raw materials were requisitioned from the storeroom for…

A: Direct material=Total raw material-Indirect material=OMR 85,000-OMR 7,000= OMR 78,000

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: During June at XYZ company, OMR 85,000 of raw materials were requisitioned from the storeroom for…

A: Direct materials are charged to Work in process Indirect materials are charged to manufacturing…

Q: The following events occurred during March for Ajax Company. A. Materials were purchased on account…

A: The journal entries follow the job costing process from the purchase of raw materials, allocation of…

Q: During July at Loeb Corporation, $83,000 of raw materials were requisitioned from the storeroom for…

A: Direct materials are those materials which are directly used for the production of goods. Indirect…

Q: During June at XYZ company, OMR 85,000 of raw materials were requisitioned from the storeroom for…

A: Raw material can be used directly in factory knows as direct material cost and indirectly known as…

Q: Widmer Watercraft’s predetermined overhead rate is 200% of direct labor. Information on the…

A: A predetermined overhead rate is a rate that is determined before the start of the year by the…

Q: On January 1, there were two jobs in process at Fifo Company. Details of the jobs are: Job A-15: DM…

A: Cost of job completed in January will equal the total cost of Job A-15 and Job A-38

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: For each of the transactions for the month below, journalize the necessary entry. The first entry…

A: Job costing is a system in which costs are recorded for a particular job rather than the entire…

Q: During June at XYZ company, OMR 85,000 of raw materials were requisitioned from the storeroom for…

A: Ans. Indirect materials that cannot be traced directly to products should be debited as…

Q: Journalize the following transactions: March 10: 400 units of raw materials were purchased on…

A: The materials requisitioned for production is debited to the Work in Process till the goods are…

Q: The following transactions occurred during the month of April for Nelson Company: Apr. 1 Purchased…

A: 1. Journal entries for transactions from April 1 through 25 Date Particulars Debit ($) Credit…

Q: In September, Lauren Ashley Company purchased materials costing $240,000 and incurred direct labor…

A: We need to prepare the cost sheet to calculate the cost of goods sold.

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 following data summarize the operations during the year. Prepare a journal entry for each…

A: Direct labor : $300 Manufacturing overhead applied = $300 * 200% = $600 Job 1 is transferred to…

Q: Record the journal entries for the following transactions: March 10: 600 units of raw materials…

A:

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: Journalize the entry on May 7 to record the purchase and on May 31 to record the requisition from…

A: Issuance of materials   The material storeroom releases raw materials for used in manufacturing…

Q: On january 1, there were two jobs in process at the Bondview Company. Job No. J-1 J-2 Direct…

A: Job order costs: These are the cost accounting records that show the details of the total cost…

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

A:

Q: Warwick Company has the following transactions for the month of September:   ​ Purchased…

A: Following are the calculation of ending balance in work-in-process:

Q: Warwick Company has the following transactions for the month of September: Purchased materials on…

A: Overhead applied = Direct labor cost x 65% = $69,000 x 65% = $44,850