The entry to record the cost of raw materials placed in production is: a. Dr Work-In-Process; Cr Raw Materials Inventory b. Dr Raw Materials Inventory; Cr Accounts Payable or Cash c. Dr Manufacturing Overhead; Cr Raw Material Inventory d. Dr Work-In-Process; Cr Accounts Payable or Cash

Q: Identify the journal entry for abnormal wastage. a. Dr.Material inventory, Cr.Production overheads…

A: There are two types of loss in process costing  1. Normal loss and  2. Abnormal loss Normal Loss…

Q: Identify the journal entry for normal wastage. a. Dr.Material inventory, Cr.Production overheads b.…

A: Cost accounting means where every cost of doing business is recorded in necessary account and cost…

Q: Which of the following is the correct journal entry to record direct materials put into production?…

A: Solution:- Preparation of journal entry to record direct material put into production as follows…

Q: Explain in narrative form the flow of direct materials, direct labor, and factory overhead cost…

A: Direct material: Direct material cost indicates the purchase price of raw material that is used in…

Q: All of the following would be reported on the balance sheet as current assets except a.factory…

A: All inventory are part of current assets. Whether it is material inventory, work in process…

Q: Required: (a) Prepare a statement of equivalent production to determine the equivalent units for…

A: An equivalent unit of production is an expression of the amount of work done by a manufacturer on…

Q: aterials used were direct materials.) SUNLAND MANUFACTURING COMPANY Cost of Goods Manufactured…

A: The Cost Sheet of a product is based on the classification of cost i.e Direct Material used, Direct…

Q: Identify the journal entry for indirect material returns to stores. a. Dr.Material inventory,…

A: Solution:  The journal entry for indirect material returns to stores is as under: Dr.Material…

Q: What is the cost of beginning work in process inventory plus the cost added during the period for…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: The cost of inventory reported on the balance sheet may include all the following except: Wages of…

A: Balance sheet is one of the statement of financial position which shows all assets, all liabilities…

Q: As production takes place, all manufacturing costs are added to the: Work-in-Process Inventory…

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

Q: In a job-order costing system, manufacturing overhead applied is recorded as a debit to: Work in…

A:

Q: When a manufacturing company uses direct materials, it assigns </i>the cost by debiting…

A: Answer: Option b.

Q: The purchase of raw materials on account in a process costing system is recorded with a: O Debit to…

A: Process costing system: It is used to compute the cost per unit from the production at each stage.…

Q: Identify the journal entry for indirect material return to supplier. a. Dr.Material inventory,…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: c) Calculate the balance in ending work in process and cost of goods sold before any adjustments…

A: Overhead cost allocation: It is the process of allocating the estimated overhead of a company to its…

Q: a. Prepare the journal entries to record all possible events in above situation. b. Compute the…

A: a) Journal Entries Date Particulars Debit Credit   Work  in Process 120,000     Raw Materials…

Q: Electricity costs that were incurred by a company's production processes should be debited to: 미 A.…

A: Electricity expenses in the production process are considered as manufacturing overhead and should…

Q: in a job-order costing system, the application (applied MOH) of manufacturing overhead would be…

A: The question is related to Job costing. Job costing methods which is applicable where the work…

Q: Which of the following would be included in the journ record the requisition of indirect materials?…

A: SOLUTION- MANUFACTURING OVERHEAD -  IT IS ALSO KNOWN AS FACTORY OVERHEAD AND PRODUCTION OVERHEAD .…

Q: When goods are completed in the production process what is the journal entry a. Debit Manufacturing…

A: Process costing is one of the methods of costing used mainly in manufacturing industry where units…

Q: Prepare a statement of equivalent production to determine the equivalent units for direct…

A: SOLUTION-                                         SCHEDULE OF QUANTITY AND EQUIVALENT UNITS   UNITS…

Q: Products that have been completed and are ready for sale at the end of the accounting period are…

A: For a manufacturing organization, there are 3 types of products: 1. Raw-material 2. Work in Progress…

Q: Which one of the following is used by the production department supervisor to request the materials…

A: Inventory or stock is a current resource on the accounting report that addresses the expenses of…

Q: A(n)___________________ is also known as an inventoriable cost, because such costs gointo the Work…

A: Inventory in a production will go through different stages which is as follows: Raw…

Q: As production takes place, all manufacturing costs are added to the: Production Labor account. O a.…

A: Total manufacturing cost consist of direct materials, labor and other manufacturing overhead cost.

Q: In a job order cost system, indirect labor incurred is debited to which account?A. work in process…

A: Job order costing system is generally used by the entities who are involved in the production of…

Q: "hich of the following accounts would be debited in the journal entry to record the issuance of…

A: Raw material means the item which is used to make the finished goods.

Q: Identifying job order costing journal entries Analyze the following T-accounts, and describe each…

A: Job order costing: Job order costing is one of the methods of cost accounting under which cost is…

Q: The entry to record a transfer of direct materials for use in production would include a debit to…

A: On the issue of direct material for use in production, the work-in-process inventory is debited…

Q: A company reports the following information: Direct Labor Direct Materials Used Raw Materials…

A: Cost of goods manufactured: Cost of goods manufactured means total manufacturing costs; including…

Q: As production takes place, all manufacturing costs are added to the: a. Finished-Goods Inventory…

A:

Q: Q3) As production takes place, all manufacturing costs are debited to the:  A. work in process…

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

Q: Which of the following would be included in the journal entry to record the requisition of indirect…

A: The correct answer is  D. Debit to Work in process inventory

Q: Prepare T accounts for the following: Raw Materials Inventory, Work in Process Inventory, Finished…

A: 1 & 2. Raw Material Inventory Particulars Amount(P) Particulars Amount(P) Opening balance…

Q: (a)  Complete All Things Brass Work-In-Process Inventory – Polishing Process T-account, clearly…

A: a)   )

Q: Under process costing, the costs incurred by each department are reported in . The perpetual…

A: Solution:- Under the process costing system, costs incurred by the each department are reported in…

Q: When direct materials are issued, the WIP Inventory account is debited. II - When indirect materials…

A: The first part of the statement is true. This is because direct material issued is used of direct…

Q: Which of the following entry is recorded when indirect materials are transferred to office dept.? a.…

A: Cost accounting means where every cost of doing business is recorded in necessary account and cost…

Q: Following are the inventories of Manufacturing Concern except: a. Fuel and Power b. Work-in Process…

A: Inventories of manufacturing concern are those whose stock is directly concerned with the production…

Q: Recording the cost of raw materials purchased for use in a process costing system includes a,

A: In process costing system, product has to go through several processes to become finished product.

Q: 4. As production takes place, all manufacturing costs are added to the: a. Work-in-Process Inventory…

A: Lets understand the basics. Work in progress inventory account is a account which shows that, how…

Q: The appropriate cost accounting system to use when inventory items are produced on an assembly line…

A: 1. Perpetual System: in perpetual inventory system sale and purchase is recorded immediately.   2.…

Q: Classify each cost as either a product cost or a period cost. Indicate whether each product cost is…

A: Direct Material Cost : The material cost require for production of goods. Direct Labor Cost :- The…

Q: 1. Which of the following statemens is true? a. The equivalent units in beginning work in process…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Choose the journal entry. 1. Direct Materials used in the production   Dr Work In process…

A: Direct costs are cost which are identifiable with the units of production .On the other hand…

Q: In a process cost system, factory depreciation expense incurred is debited to ________.A. finished…

A: Process costing seems to be a way of aggregating manufacturing costs by the process. It illustrates…