Homework Clinic
Social Science Clinic => Accounting => Topic started by: c0205847 on Jan 5, 2020
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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
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WIP inventory-colouring
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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
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Finished goods inventory
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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
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Manufacturing Overhead
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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
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Wages payable
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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.
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debit to WIP inventory- finishing and a credit to WIP-colouring.
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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.
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debit to raw materials inventory.
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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.
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credit to raw materials inventory.
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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
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Raw materials inventory
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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
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Manufacturing overhead
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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
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WIP inventory-finishing
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thank you
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thank you
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thank you
WIP inventory-colouring
Thank You