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Author Question: At Plastics Source, Inc., the beginning balance of the work in process inventory account in April of ... (Read 66 times)

mydiamond

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on: Jan 4, 2020
At Plastics Source, Inc., the beginning balance of the work in process inventory account in April of the most recent year was $17,000. Direct materials used during April totaled $140,000. Total manufacturing labour incurred in April was $163,500, 80% of this amount represented direct labour. The predetermined manufacturing overhead rate is 120% of direct labour cost. Actual manufacturing overhead costs for April amounted to $155,000.

In April, two jobs were completed with total costs of $102,000 and $82,000, respectively. In April, the two jobs were sold on account for $175,000 and $127,000, respectively.
a) Compute the balance in work in process inventory on April 30.
b) Record the journal entry for direct materials used in April.
c) Record the journal entry to record labour costs for April.
d) Record the journal entry for allocated manufacturing overhead for April.
e) Record the entry to move the completed jobs into finished goods inventory in April.
f) Record the entry to sell the two completed jobs on account in April.
Managerial Accounting, Canadian Edition ¦ Braun, Tietz, Pyper ¦ 2nd Edition
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Marked as best answer by mydiamond on Jan 4, 2020

apple

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Reply #1 on: Jan 4, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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mydiamond

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Reply 2 on: Jan 4, 2020
Thanks for the timely response, appreciate it

ryhom

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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