This topic contains a solution. Click here to go to the answer

Author Question: At Plastics Source, Inc., the beginning balance of the work in process inventory account in April of ... (Read 111 times)

mydiamond

  • Hero Member
  • *****
  • Posts: 804
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by mydiamond on Jan 4, 2020

apple

  • Sr. Member
  • ****
  • Posts: 352
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.
Answer Preview
Only 25% of students answer this correctly




mydiamond

  • Member
  • Posts: 804
Reply 2 on: Jan 4, 2020
:D TYSM


Animal_Goddess

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Excellent

 

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

For a complete list of videos, visit our video library