Journalize the following transactions for Orkin Manufacturing. (a) Purchased 6,000 units of raw materials on account for
Question:
(a) Purchased 6,000 units of raw materials on account for $11,100.The standard cost was $12,000.
(b) Issued 5,500 units of raw materials for production. The standard units were 5,800.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (8 reviews)
a Raw Materials Inventory 12000 Materials Pri...View the full answer
Answered By
Ashok Kumar Malhotra
Chartered Accountant - Accounting and Management Accounting for 15 years.
QuickBooks Online - Certified ProAdvisor (Advance - QuickBooks Online for 3 years.
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Managerial Accounting questions
-
Journalize the following transactions for Orkin Manufacturing. (a) Purchased 6,000 units of raw materials on account for $11,500. The standard cost was $12,000. (b) Issued 5,600 units of raw...
-
Journalize the following transactions for Rogler Manufacturing. (a) Incurred direct labor costs of $24,000 for 3,000 hours. The standard labor cost was $25,200. (b) Assigned 3,000 direct labor hours...
-
Journalize the following transactions for Gillaspie Manufacturing. (a) Incurred direct labor costs of $24,000 for 3,000 hours. The standard labor cost was $25,200. (b) Assigned 3,000 direct labor...
-
An opera glass has an objective lens of focal length +3.60 cm and a negative eyepiece of focal length -1.20 cm. How far apart must the two lenses be for the viewer to see a distant object at 25.0 cm...
-
The following accounts appear in an adjusted trial balance of Waterloo Consulting. Indicate whether each account would be reported in the (a) current asset; (b) property, plant, and equipment; (c)...
-
Find the critical r value for each (assume that the test is two-tailed). n = 35, = 0.02
-
Distinguish between the terms operations, production, and manufacturing.
-
Spiffy Dry Cleaners has recently changed management, and the new owners want to revise the current layout. The store performs six main services: (1) Laundry, (2) Dry cleaning, (3) Pressing, (4)...
-
The following operating and cost data occurred during October: October 1, Inventory: 30,000 units Direct materials .......$60,000 Direct labor .......... 7,500 Overhead 15,000 October 31, Inventory:...
-
Alexandra Bergson has subdivided her 2,000-acre farm into three plots and has contracted with three local farm families to operate the plots. She has instructed each sharecropper to plant three...
-
The four perspectives in the balanced scorecard are (1) Financial, (2) Customer, (3) Internal process, and (4) Learning and growth. Match each of the following objectives with the perspective it is...
-
Some overhead data for Keane Company are given in BE25-6. In addition, the flexible manufacturing overhead budget shows that budgeted costs are $4 variable per direct labor hour and $50,000 fixed....
-
How do you decide if a system component should be represented as a source/sink or as a process?
-
The altitude of a triangle is increasing at a rate of 1 cm/min while the area of the triangle is increasing at a rate of 2 cm2/min. At what rate is the base of the triangle changing when the altitude...
-
Solve the following equations by factoring. a. 5x-6x=7x+28 b. 36x4425x Solution(s) Solution(s)
-
Pari bought $2,500 of new furniture on credit. Because her credit score isn't very good, the store is charging her a fairly high interest rate of 16% to finance this purchase. If she agreed to pay...
-
Brooklyn is going to finance new office equipment at a 1% rate over a 2.5 year term. If she can afford monthly payments of $125, how much can she pay for the new office equipment? Round your answer...
-
f(2+ h)-f(2) Find lim if f(x)=-4x-1. h h0 f(2+ h) -f(2) lim h0 (Simplify your answer.) h
-
What is the estate-tax-free transfer threshold for 2012 and 2013, and how does this relate to the unified tax credit?
-
Data on weekday exercise time for 20 females, consistent with summary quantities given in the paper An Ecological Momentary Assessment of the Physical Activity and Sedentary Behaviour Patterns of...
-
Find the current i in the circuit shown in Fig. 2-22, if the control v 2 of the dependent voltage source has the value (a) 4 V, (b) 5 V, (c) 10 V. 5 w 5.12 * ) 25 V
-
McDonnell Inc. reported 2009 earnings per share of $3.26 and had no extraordinary items. In 2010 earnings per share on income before extraordinary items was $2.99, and earnings per share on net...
-
Bullock Inc. has been in operation for 3 years. And uses the FIFO method of pricing inventory. During the fourth year, Bullock changes to the average cost method for all its inventory. How will...
-
(a) Andrea Monee believes that the analysis of financial statements is directed at two characteristics of a company: liquidity and profitability. Is Andrea correct? Explain. (b) Are short-term...
-
gross margin? Joseph Company recorded sales of $39000 and Cost of Goods Sold of $14000. What is Joseph Company's
-
What are some examples of a difficult situation that due care may face? What would an ethical response be to those examples be ? And lastly why might a practitioner be tempted to or accidentally not...
-
You are starting a business and as part of your business plan you need to develop a break - even analysis. Your fixed costs ( overhead ) associated with your store are $ 1 , 0 0 0 , 0 0 0 annually,...
Study smarter with the SolutionInn App