Managerial Accounting
6th Edition
ISBN: 9781259726972
Author: John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher: McGraw-Hill Education
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Chapter C, Problem 10E
To determine
Concept introduction:
Days’ sales in work in process inventory:
Days sales in work in process inventory is a measurement of efficiency. This shows the number of days for which inventory is hold by the company. In other words, we can say that it shows relationship between work in process inventory and cost of goods sold.
Requirement 1:
Days sales in work in process inventory for the current year.
To determine
Concept introduction:
Days’ sales in work in process inventory:
Days’ sales in work in process inventory is a measurement of efficiency. This shows the number of days for which inventory is hold by the company. In other words we can say that it shows relationship between work in process inventory and cost of goods sold.
Requirement 2:
Days’ sales in work in process inventory for the prior year.
To determine
Concept introduction:
Days’ sales in work in process inventory:
Days’ sales in work in process inventory is a measurement of efficiency. This shows the number of days for which inventory is hold by the company. In other words we can say that it shows relationship between work in process inventory and cost of goods sold.
Requirement 3:
Did days’ sales in work in process inventory increase or decrease from the prior year?
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Answer the following:
1. Work in Process Inventory Turnover
2. Number of days to Process Inventory
3. Raw Materials Inventory Turnover
4. Number of days usage in Inventory
Tierney Company begins operations on April 1. Information from job cost sheets shows the following.
Job
Number
10
11
12
13
14
April
$5,700
4,700
2,100
Manufacturing Costs Assigned
May
$5,800
4,100 $4,000
6,300
June
6,600
Month
Completed
May
June
April
June
4,600
3,800 Not complete
Job 12 was completed in April. Job 10 was completed in May. Jobs 11 and 13 were completed in June. Each job was sold for 25% above
its cost in the month following completion.
[The following information applies to the questions displayed below.]
Delph Company uses a job-order costing system and has two manufacturing departments-Molding and Fabrication.
The company provided the following estimates at the beginning of the year:
Molding
22,000
$ 720,000
$ 4.00
Fabrication
Total
Machine-hours
Fixed manufacturing overhead cost
Variable manufacturing overhead cost per machine-hour
32,000
$ 220,000
$ 1.50
54,000
$ 940,000
During the year, the company had no beginning or ending inventories and it started, completed, and sold only two
jobs-Job D-70 and Job C-200. It provided the following information related to those two jobs:
Molding
$ 370,000
$ 220,000
13,000
Job D-70
Direct materials cost
Fabrication
Total
Direct labor cost
Machine-hours
$ 320,000
$ 180,000
$ 690,000
$ 400,000
22,000
9,000
Molding
$ 300,000
$ 140,000
Job C-200
Fabrication
Total
$ 280,000
$ 240,000
23,000
$ 580,000
$ 380,000
32, 00ө
Direct materials cost
Direct labor cost
Machine-hours
9,000
Delph…
Chapter C Solutions
Managerial Accounting
Ch. C - Prob. 1DQCh. C - How does push production differ from pull...Ch. C - Prob. 3DQCh. C - Prob. 4DQCh. C - Prob. 5DQCh. C - Prob. 6DQCh. C - Prob. 7DQCh. C - Prob. 8DQCh. C - Prob. 9DQCh. C - Prob. 10DQ
Ch. C - Prob. 11DQCh. C - Prob. 12DQCh. C - Can management of a company like Samsung use cycle...Ch. C - Identify each of the following as applying more to...Ch. C - Identify each of the following as applying more to...Ch. C - Prob. 3QSCh. C - Use lean accounting to prepare journal entries for...Ch. C - Prob. 5QSCh. C - Prob. 6QSCh. C - Prob. 7QSCh. C - Prob. 8QSCh. C - Prob. 9QSCh. C - Prob. 10QSCh. C - Prob. 11QSCh. C - A company reports ending accounts payable of...Ch. C - Prob. 13QSCh. C - Identify each of the following production...Ch. C - Prob. 2ECh. C - Prob. 3ECh. C - Prob. 4ECh. C - Prob. 5ECh. C - Prob. 6ECh. C - Prob. 7ECh. C - A manufacturer makes T-shirts in several...Ch. C - Prob. 9ECh. C - Prob. 10ECh. C - Use the information below for Tesla to answer the...Ch. C - Prob. 12ECh. C - Prob. 13ECh. C - Prob. 14ECh. C - Robo-Lawn is a lean manufacturer of robotic lawn...Ch. C - Prob. 2PCh. C - Prob. 3P
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