MANAGERIAL ACCT-CONNECT W/PROCTORIO.ONLY
17th Edition
ISBN: 9781265572297
Author: Garrison
Publisher: MCG
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Chapter 3.A, Problem 1E
EXERCISE 3A-1 Transaction Analysis LO3-5
Carmen Company is a manufacturer that completed numerous transactions during the month, some of which are shown below:
- Raw materials used in production as direct materials, $56,000.
- Paid direct laborers $40,000 in cash for their work on various jobs during the month.
- Applied $35,000 of manufacturing
overhead to production during the month. - Various
jobs costing a total of $110,000 were completed during the month and transferred to Finished Goods. - Various completed jobs costing a total of $90,000 were sold to customers.
- Cash sales for the month totaled $160,000.
- Selling and administrative expenses paid in cash, $18,000.
Required:
The table shown below includes a subset of Carmen Company's balance sheet accounts. Record each of the above transactions using the accounts that are given. If a transaction increases an account balance, then record the amount as a positive number. If it decreases an account balance, then record the amount in parentheses.
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PROBLEM 7
Miyose Corporation, a manufacturing company, has provided the following data for the month of
June:
Inventories:
Raw materials.
Finished goods
Beginning Ending
$23,000
$21,000
$32,000
$37,000
Raw materials purchased during June totaled $67,000 and the cost of goods manufactured
totaled $124,000.
Required:
a. What was the cost of raw materials used in production during June? Show your work.
b. What was the cost of goods sold for June? Show your work.
Transaction Analysis
Carmen Company is a manufacturer that completed numerous transactions during the month, some of which are shown below:
a. Raw materials used in production as direct materials, $56,000.
b. Paid direct laborers $40,000 in cash for their work on various jobs during the month.
c. Applied $35,000 of manufacturing overhead to production during the month.
d. Various jobs costing a total of $110,000 were completed during the month and transferred to Finished Goods.
e. Various completed jobs costing a total of $90,000 were sold to customers.
f. Cash sales for the month totaled $160,000.
g. Selling and administrative expenses paid in cash, $18,000.
Required:
The table shown below includes a subset of Carmen Company’s balance sheet accounts. Record each of the above transactions using the accounts that are given. If a transaction increases an account balance, then record the amount as a positive number. If it decreases an account balance, then record the amount in…
Question 9
Zulfiqar Corporation has provided data concerning its operations for September. The beginning balance in the raw materials account was Rs. 30,000 and the ending balance was Rs. 35,000. Raw materials purchases during the month totaled Rs. 85,000. Manufacturing overhead cost incurred during the month was Rs. 64,000, of which Rs. 5,000 consisted of raw materials classified as indirect materials. The direct materials cost for September was:
Chapter 3 Solutions
MANAGERIAL ACCT-CONNECT W/PROCTORIO.ONLY
Ch. 3.A - EXERCISE 3A-1 Transaction Analysis LO3-5 Carmen...Ch. 3.A - EXERCISE 3A-2 Transaction Analysis LO3-5 Adams...Ch. 3.A - EXERCISE 3A-3 Transaction Analysis LO3-5 Dixon...Ch. 3.A - PROBLEM 3A-4 Transaction Analysis LO3-5 Morrison...Ch. 3.A - PROBLEM 3A-5 Transaction Analysis LO3-5 Star...Ch. 3.A -
PROBLEM 3A-6 Transaction Analysis LO3-5
Brooks...Ch. 3 - Prob. 1QCh. 3 - Prob. 2QCh. 3 - What is underapplied overhead Overapplied...Ch. 3 - 3-4 Provide two reasons why overhead might be...
Ch. 3 - Prob. 5QCh. 3 - How do you compute the raw materials used in...Ch. 3 - Prob. 7QCh. 3 - How do you compute the cost of goods manufactured?Ch. 3 - Prob. 9QCh. 3 - Prob. 10QCh. 3 - Prob. 1AECh. 3 - Prob. 2AECh. 3 - Prob. 3AECh. 3 - Prob. 4AECh. 3 - Prob. 1F15Ch. 3 - Prob. 2F15Ch. 3 - Bunnell Corporation is a manufacturer that uses...Ch. 3 - Prob. 4F15Ch. 3 - Prob. 5F15Ch. 3 - Bunnell Corporation is a manufacturer that uses...Ch. 3 - Prob. 7F15Ch. 3 - Prob. 8F15Ch. 3 - Prob. 9F15Ch. 3 - Prob. 10F15Ch. 3 - Bunnell Corporation is a manufacturer that uses...Ch. 3 - Prob. 12F15Ch. 3 - Prob. 13F15Ch. 3 - Prob. 14F15Ch. 3 - Prob. 15F15Ch. 3 - EXERCISE 3-1 Prepare Journal Entries LO3-1 Lamed...Ch. 3 - Prob. 2ECh. 3 - EXERCISE 3-3 Schedules of Cost of Goods...Ch. 3 - EXERCISE 3-4 Underapplied and Overapplied Overhead...Ch. 3 - Prob. 5ECh. 3 - EXERCISE 3-6 Schedules of Cost of Goods...Ch. 3 - (
$
15,000...Ch. 3 - EXERCISE 3-8 Applying Overhead: Journal Entries;...Ch. 3 - Prob. 9ECh. 3 - Prob. 10ECh. 3 -
PROBLEM 3-11: T-Account Analysis of Cost Flows...Ch. 3 - Prob. 12PCh. 3 - PROBLEM 3-13 Schedules of Cost of Goods...Ch. 3 - Prob. 14PCh. 3 -
PROBLEM 3-15 Journal Entries; T-Accounts;...Ch. 3 - Prob. 16PCh. 3 - Prob. 17PCh. 3 - Prob. 18C
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