Author Question: ABC produces ping-pong balls using a three-step sequential process that includes molding, colouring ... (Read 624 times)

c0205847 · **on:** Jan 5, 2020

ABC produces ping-pong balls using a three-step sequential process that includes molding, colouring and finishing. When the balls and associated costs are transferred from the molding process to the colouring process, which account is debited?
◦ WIP inventory-finishing
◦ WIP inventory-molding
◦ Raw materials inventory
◦ WIP inventory-colouring

14vl19 · **Reply #1 on:** Jan 5, 2020

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cmoore54 · **Reply #2 on:** Jan 5, 2020

ABC produces ping-pong balls using a three-step process that includes molding, colouring and finishing. Which account is debited when the balls are totally completed?
◦ Manufacturing overhead
◦ WIP inventory-finishing
◦ Finished goods inventory
◦ WIP inventory-colouring

TheNamesImani · **Reply #3 on:** Jan 5, 2020

Finished goods inventory

pragya sharda · **Reply #4 on:** Jan 5, 2020

ABC produces ping-pong balls using a three-step process that includes molding, colouring and finishing. Which of the following accounts is credited when manufacturing overhead is applied?
◦ Accumulated amortization, office equipment
◦ Manufacturing Overhead
◦ WIP inventory-finishing
◦ Indirect salaries payable

onowka · **Reply #5 on:** Jan 5, 2020

Manufacturing Overhead

robinn137 · **Reply #6 on:** Jan 5, 2020

ABC produces ping-pong balls using a three-step process that includes molding, colouring and finishing. Which of the following accounts is credited for direct labour used during the molding process?
◦ WIP inventory-molding
◦ Wages payable
◦ Manufacturing overhead
◦ Raw materials inventory

tanna.moeller · **Reply #7 on:** Jan 5, 2020

Wages payable

karlynnae · **Reply #8 on:** Jan 5, 2020

ABC produces ping-pong balls using a three-step sequential process that includes molding, colouring and finishing. When the balls and associated costs are transferred out of the colouring process and into the finishing process, the journal entry would include a
◦ debit to WIP inventory- colouring and a credit to WIP-finishing.
◦ debit to Finished Goods inventory and a credit to WIP-colouring.
◦ debit to WIP inventory- colouring and a credit to Finished Goods inventory.
◦ debit to WIP inventory- finishing and a credit to WIP-colouring.

asdfghjkl; · **Reply #9 on:** Jan 5, 2020

debit to WIP inventory- finishing and a credit to WIP-colouring.

Anajune7 · **Reply #10 on:** Jan 5, 2020

ABC produces ping-pong balls using a three-step process that includes molding, colouring and finishing. The purchase of materials includes a
◦ credit to manufacturing overhead.
◦ credit to raw materials inventory.
◦ debit to raw materials inventory.
◦ debit to WIP inventory-molding.

sokh · **Reply #11 on:** Jan 5, 2020

debit to raw materials inventory.

brutforce · **Reply #12 on:** Jan 5, 2020

ABC produces ping-pong balls using a three-step process that includes molding, colouring and finishing. Requisition of materials to molding includes a
◦ debit to raw materials inventory.
◦ credit to raw materials inventory.
◦ credit to finished goods inventory.
◦ debit to manufacturing overhead.

GCabra · **Reply #13 on:** Jan 5, 2020

credit to raw materials inventory.

altibaby · **Reply #14 on:** Jan 5, 2020

ABC produces ping-pong balls using a three-step process that includes molding, colouring and finishing. Which of the following accounts is credited when material requests are filled?
◦ Finished goods inventory
◦ Raw materials inventory
◦ WIP inventory-finishing
◦ Manufacturing overhead

cloud · **Reply #15 on:** Jan 5, 2020

Raw materials inventory

tsand2 · **Reply #16 on:** Jan 5, 2020

ABC produces ping-pong balls using a three-step process that includes molding, colouring and finishing. Which of the following accounts is debited for manufacturing overhead expenses incurred?
◦ WIP inventory-finishing
◦ Finished goods inventory
◦ Raw materials inventory
◦ Manufacturing overhead

xthemafja · **Reply #17 on:** Jan 5, 2020

Manufacturing overhead

leo leo · **Reply #18 on:** Jan 5, 2020

ABC produces ping-pong balls using a three-step process that includes molding, colouring and finishing. Which of the following accounts is debited for conversion costs?
◦ Raw materials inventory
◦ Cost of goods sold
◦ Finished goods inventory
◦ WIP inventory-finishing