Business, 15.07.2020 03:01 karmaxnagisa20

Record the following process costing transactions in the general journal: a. Purchase of raw materials on account, $9, 300
b. Requisition of direct materials to Assembly Department, $4, 300 Finishing Department, $2, 400
c. Incurrence and payment of direct labor, $10, 500 (these costs should be debited to WIP Inventory-Assembly)
d. Incurrence of manufacturing overhead costs (unpaid): Property taxes-plant, $1, 800 Utilities-plant, $4, 800 Insurance-plant, $1, 700 Depreciation-plant, $3, 800
e. Assignment of conversion costs to the Assembly Department: Direct labor, $5, 000 Manufacturing overhead, $2, 600
f. Assignment of conversion costs to the Finishing Department: Direct labor, $4, 700 Manufacturing overhead, $6, 600
g. Cost of goods completed and transferred out of the Assembly Department to the Finishing Department, $10, 500
h. Cost of goods completed and transferred out of the Finishing Department into Finished Goods Inventory, $15, 600

Answers: 3

Show answers

Other questions on the subject: Business

Business, 22.06.2019 17:40, briannagiddens

Adamson company manufactures four lines of garden tools. as a result of an activity analysis, the accounting department has identified eight activity cost pools. each of the product lines is produced in large batches, with the whole plant devoted to one product at a time. classify each of the following activities or costs as either unit-level, batch-level, product-level, or facility-level. activities (a) machining parts. (b) product design. (c) plant maintenance. (d) machine setup. (e) assembling parts. (f) purchasing raw materials. (g) property taxes. (h) painting.

Answers: 2

continue

Business, 22.06.2019 19:00, Anonymouslizard

All of the following led to the collapse of the soviet economy except a. a lack of worker incentives. c. inadequate supply of consumer goods. b. a reliance on production quotas. d. the introduction of a market economy.

Answers: 1

continue

Business, 22.06.2019 21:00, kalbaugh

An important source of public scrutiny is "watchdogs." these are: the efforts of a firm's competitors, including how often the competitors attack the firm's strategies. taxpayer-supported government agencies that limit a firm's ability to compete in foreign markets. companies designated by the government to only produce products that support the government defense program. socially conscious groups that make it their mission to measure the social responsibility levels of businesses, and provide consumers with their opinions about the level of corporate responsibility of various companies.

Answers: 2

continue

Business, 22.06.2019 21:30, mydoggy152

Which of the following best explains the purpose of protectionist trade policies such as tariffs and subsidies? a. they make sure that governments have enough money to pay for fiscal policies. b. they give foreign competitors access to new markets around the world. c. they allow producers to sell their products more cheaply than foreign competitors. d. they enable producers to purchase productive resources from everywhere in the world.

Answers: 1

continue

You know the right answer?

Record the following process costing transactions in the general journal: a. Purchase of raw materi...