Lexington Lumber Co. processes rough timber to obtain three grades of finished lumber, A, B, and C.
Question:
Make the journal entry to transfer the finished lumber to separate inventory accounts for eachproduct.
Transcribed Image Text:
Thousand Board Feet 200 300 500 Selling Price per 1,000 Board Feet $200 100 150 Grade
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (13 reviews)
Finished Goods x A 82759 Finished Goods x B 62069 Finished Goods x C 155172 Work in Proce...View the full answer
Answered By
Hassan Imtiaz
The following are details of my Professional Experience. Responsibilities Eight years of demanding teaching experience in the field of finance and business studies at Master’s Level. Completion of the given tasks within given time with quality and efficiency. Marketing professional with practical experience in and solid understanding of a diverse range of management applications, including market analysis, sales and marketing, team building and quality assurance. I have excellent skills to approach deal and sustain corporate clients / customers by demonstrating not only extraordinary communication and interpersonal skills but also high caliber presentation, negotiation and closing skills. Manage and follow up the day-to-day activities. Manage and co-ordinate the inventories. Fulfillment of all the tasks assigned.
The following are details of my Areas of Effectiveness. Finance 1. Corporate Finance 2. Advanced Corporate Finance 3. Management of Financial Institutions 4. International Financial Management 5. Investments 6. Fixed Income 7. Real Estate Investment 8. Entrepreneurial Finance 9. Derivatives 10. Alternative Investments 11. Portfolio Management 12. Financial Statement Analysis And Reporting (US GAAP & IFRS) 13. International Financial Markets 14. Public Finance 15. Personal finance 16. Real estate 17. Financial Planning Quantitative Analysis 1. Time Value Of Money 2. Statistics 3. Probability Distribution 4. Business Statistics 5. Statistical Theory and Methods Economics 1. Principles of Economics 2. Economic Theory 3. Microeconomic Principles 4. Macroeconomic Principles 5. International Monetary Economics 6. Money and Banking 7. Financial Economics 8. Population Economics 9. Behavioral Economics International Business 1. Ethics 2. Business Ethics 3. An introduction to business studies 4. Organization & Management 5. Legal Environment of Business 6. Information Systems in Organizations 7. Operations Management 8. Global Business Policies 9. Industrial Organization 10. Business Strategy 11. Information Management and Technology 12. Company Structure and Organizational Management Accounting & Auditing 1. Financial Accounting 2. Managerial Accounting 3. Accounting for strategy implementation 4. Financial accounting 5. Introduction to bookkeeping and accounting Marketing 1. Marketing Management 2. Professional Development Strategies 3. Business Communications 4. Business planning 5. Commerce & Technology Human resource management 1. General Management 2. Conflict management 3. Leadership 4. Organizational Leadership 5. Supply Chain Management 6. Law 7. Corporate Strategy Creative Writing 1. Analytical Reading & Writing Other Expertise 1. Risk Management 2. Entrepreneurship 3. Management science 4. Organizational behavior 5. Project management 6. Financial Analysis, Research & Companies Valuation 7. And any kind of Excel Queries
4.80+
150+ Reviews
230+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Louisville Lumber Co. processes rough timber to obtain three grades of finished lumber, A, B, and C. The company allocates joint costs to the joint products on the basis of market value. During the...
-
Adirondack Bat Co. processes rough timber to obtain three grades of lumber, A, B, and C that are then made into baseball bats. The company allocates joint costs to the joint products on the basis of...
-
A company that manufactures three products a b and c requires two raw materials - labor and material - need to determine the optimal production that maximizes its total profit. A linear program was...
-
The cantilever beam AB shown in the figure is subjected to a concentrated load P at the midpoint and a counterclockwise couple of moment M1 = PL/4 at the free end. Draw the shear-force and...
-
Both the management of Kimmel Instrument Corporation, a small company that follows IFRS, and its independent auditors recently concluded that the company's results of operations will be reliable and...
-
Youre the founder and owner of a small media company, and Netflix has indicated an interest in buying your business. Reed Hastings wants you to stay on and run the business as a unit of Netflix. In...
-
A healthcare home-care firm has a profit margin of 15 percent on visiting nurse sales of $\$ 20,000,000$. If the firm has debt of $\$ 7,500,000$, total assets of $\$ 22,500,000$, and an after-tax...
-
In another version of the "Giant Swing" (see Exercise 5.52), the seat is connected to two cables as shown in Fig. 5.58, one of which is horizontal. The seat swings in a h0ri2ontal circle at a rate of...
-
A business has a cost of equity of 9.5 percent and a pretax cost of debt of 5.4 percent. The debt-equity ratio is 1.15 and the tax rate is 25 percent. What is the unlevered cost of capital?
-
Given a database of the results of an election, find the number of seats won by each party. There are some rules to going about this: There are many constituencies in a state and many candidates who...
-
Assume each of the following conditions concerning the data given: 1. All materials are added at the beginning of the process. 2. All materials are added at the end of the process. 3. Half of the...
-
Cooper Companys joint cost of producing 1,000 units of Product A, 500 units of Product B, and 500 units of Product C is $200,000. The unit sales values of the three products at the split-off point...
-
When the While loop is exited, what are the contents of the file Merged? Refer to the following pseudocode, which partially merges the files with internal names FileOne and FileTwo into a third file...
-
Write a program that prints a table of the monthly payments, remaining principal, and interest paid for a loan, taking three numbers as command-line arguments: the number of years, the principal, and...
-
Use the value net to identify a social-value organizations key stakeholders and use that model to discuss opportunities for and threats to value creation.
-
Explain the role of the board of directors in running a public company. What is the boards primary job? What distinguishes inside from outside directors?
-
Modify Factors to print just one copy each of the prime divisors.
-
Write a program that takes an integer command-line argument n, uses Math.random() to print n uniform random values between 0 and 1, and then prints their average value.
-
In the accounts of P Toona, an account payable tax invoice for office equipment from G Heath for $8415 ($7650 + $765 GST) was erroneously entered and processed in the purchases journal as $5148...
-
What is your assessment of the negotiations process, given what you have studied? What are your recommendations for Mr. Reed? You must justify your conclusions
-
Job applicants typically want to find a job that is a good fit. For you personally, what is a good fit? Describe how you will decide whether a job you are offered is a good fit.
-
SDC Inc. has established the following standard cost per unit: Materials4 lb @ $4.50 per lb . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $18.00 Labor-2hr @ $12 per hr . . . ....
-
Marina del Rey Manufacturing Corp. uses a standard cost system that records raw materials at actual cost, records materials price variances at the time that raw materials are issued to work in...
-
On May 1, Sparta Inc. began the manufacture of a new mechanical device known as Alex. The company installed a standard cost system in accounting for manufacturing costs. The standard costs for a unit...
-
If you could model yourself after one or more of the historical leaders we discussed in this chapter, whom would you model yourself after? Please learn more about the leader you chose. Identify two...
-
You are a market researcher. You've been asked to compare the way 2 news sources present the same issue for possible consideration by your market research department and public relations staff....
-
Explain about the application software available for Unix operating system?
Study smarter with the SolutionInn App