for its production. The following are the beginning balance of materials from the Blims Coration manufactures...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
for its production. The following are the beginning balance of materials from the Blims Coration manufactures furniture. It uses a job order costing system materials ledger Glue Wood Polyester Filling Rubber The materials purchased during the month of January are as follows: 32,000 1,200,000 3,240,000 4,500,000 Job no. 123 124 125 Glue Wood Materials issued to each job are as follows: Wood 350,000 600,000 150,000 Polyester Filling Rubber Glue Factory overhead 28,000 28,000 1,100,000 3,450 320,000 465,000 256,000 Rubber Polyester Filling 1,250,000 892,000 900,000 1,975,000 875,000 1.179,000 3,025,000 4,046,000 Required: Prepare the journal entry for a. Purchase of materials b. Issuance of materials c. Determine the ending balance of materials. Total 2,492,000 3,475,000 2,204,000 28,000 8,199,000 for its production. The following are the beginning balance of materials from the Blims Coration manufactures furniture. It uses a job order costing system materials ledger Glue Wood Polyester Filling Rubber The materials purchased during the month of January are as follows: 32,000 1,200,000 3,240,000 4,500,000 Job no. 123 124 125 Glue Wood Materials issued to each job are as follows: Wood 350,000 600,000 150,000 Polyester Filling Rubber Glue Factory overhead 28,000 28,000 1,100,000 3,450 320,000 465,000 256,000 Rubber Polyester Filling 1,250,000 892,000 900,000 1,975,000 875,000 1.179,000 3,025,000 4,046,000 Required: Prepare the journal entry for a. Purchase of materials b. Issuance of materials c. Determine the ending balance of materials. Total 2,492,000 3,475,000 2,204,000 28,000 8,199,000 for its production. The following are the beginning balance of materials from the Blims Coration manufactures furniture. It uses a job order costing system materials ledger Glue Wood Polyester Filling Rubber The materials purchased during the month of January are as follows: 32,000 1,200,000 3,240,000 4,500,000 Job no. 123 124 125 Glue Wood Materials issued to each job are as follows: Wood 350,000 600,000 150,000 Polyester Filling Rubber Glue Factory overhead 28,000 28,000 1,100,000 3,450 320,000 465,000 256,000 Rubber Polyester Filling 1,250,000 892,000 900,000 1,975,000 875,000 1.179,000 3,025,000 4,046,000 Required: Prepare the journal entry for a. Purchase of materials b. Issuance of materials c. Determine the ending balance of materials. Total 2,492,000 3,475,000 2,204,000 28,000 8,199,000 for its production. The following are the beginning balance of materials from the Blims Coration manufactures furniture. It uses a job order costing system materials ledger Glue Wood Polyester Filling Rubber The materials purchased during the month of January are as follows: 32,000 1,200,000 3,240,000 4,500,000 Job no. 123 124 125 Glue Wood Materials issued to each job are as follows: Wood 350,000 600,000 150,000 Polyester Filling Rubber Glue Factory overhead 28,000 28,000 1,100,000 3,450 320,000 465,000 256,000 Rubber Polyester Filling 1,250,000 892,000 900,000 1,975,000 875,000 1.179,000 3,025,000 4,046,000 Required: Prepare the journal entry for a. Purchase of materials b. Issuance of materials c. Determine the ending balance of materials. Total 2,492,000 3,475,000 2,204,000 28,000 8,199,000
Expert Answer:
Answer rating: 100% (QA)
To determine the ending balance of materials calculate the total materials purchased and subtract th... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Given the following circuit where V = 15 V, I = 4.54 mA, R = 17 kQ and R3 = 13 kQ, find R. =Vs >R1 w w Answer: R2 ww 33 R3
-
Star Videos, Inc., produces short musical videos for sale to retail outlets. The company's balance sheet accounts as of January 1 are given below. Because the videos differ in length and in...
-
= 1.0 John used an existing reactor in his plant to perform a liquid phase reaction AB to produce product B for his customer. This reaction has a rate constant k mol/(m min). The feed to this reactor...
-
A very long insulating cylinder of charge of radius 2.40 cm carries a uniform linear density of 13.0 nC/m. If you put one probe of a voltmeter at the surface, how far from the surface must the other...
-
Identify a business, government, education, or sports leader whom you perceive to have very little charisma. What other factors appear to compensate for his or her limited charisma?
-
You manage a division that recently discovered a suspected fraud involving accounts receivable. For the past week, you and the internal auditors have been collecting documents, gathering information,...
-
How to establish the terms of the attorney-client agreement?
-
Callahan Manufacturing has assembled the data appearing below pertaining to two products. Past experience has shown that the unavoidable fixed factory overhead included in the cost per machine hour...
-
Problem #8: The graph of z = f(x, y) is shown below. In each part, determine whether the given partial derivatives are positive, negative, or zero. (Note that the function is symmetric about 0 in...
-
For each item listed in the table below, input the balance for the date range 10/1/20XX to 12/1/20XX. For the Journal, input the balance for the date range 11/13/20XX to 12/1/20XX. Note: Enter your...
-
Using the high-low method, what is the amount of fixed cost? 2. Using the high-low method, what is the amount of variable cost per hour? 3. using the high-low method, how much would be the total cost...
-
You hold a 30% common stock interest in the family-owned business, a vending machine company. Your sister, who is the manager, has proposed an expansion of plant facilities at an expected cost of...
-
describe how you would deal with the situation. In your answer, please include 1) a description of the relevant stakeholders; 2) identification of the competing interests of the stakeholders, 3) the...
-
Skyview Company has two divisions: Residential Skylights and Automotive Sunroofs. The manager of the Residential Skylights Division is evaluated based on return on investment (ROI). The manager of...
-
Ivanhoe Ltd. purchased machinery on January 1, 2023, for $75,200. The machinery is estimated to have a residual value of $4,800 after a useful life of eight years. (a) Calculate the 2023 depreciation...
-
Quamma Corporation makes a product that has the following costs: Direct materials Direct labor Variable manufacturing overhead Per Unit $17.20 Fixed manufacturing overhead Variable selling and...
-
If you are the CEO of a multinational company and you are evaluating the possibility of starting operations in a developing country, what elements do you think should be evaluated to measure the...
-
State whether each statement is true or false. If false, give a reason. {purple, green, yellow} = {green, pink, yellow}
-
Using the data in Exercise 6-7, assume that the allowance for doubtful accounts for Sun Valley Rides had a negative balance of $(6,650) as of December 31, 20Y3. Illustrate the effects of the...
-
The condensed product-line income statement for Blonde Espresso Company is as follows: Fixed costs are 40% of the cost of goods sold and 18% of the selling and administrative expenses. Blonde...
-
Costco Wholesale Corporation (COST) and Walmart Stores Inc. (WMT) reported the following data (in millions) for a recent year: 1. Compute the return on total assets. Round to one decimal place. 2....
-
The file m-pgspabt.txt consists of monthly simple returns of Procter & Gamble stock, S&P composite index, and Abbott Laboratories from January 1962 to December 2011. The data are from CRSP. Transform...
-
Prove Lemma 2.2. Data from Lemma 2.2. Lemma 2.2 For a VAR(p) model in Equation (2.21) with a, being a serially uncorrelated innovation process with mean zero and positive-definite covariance a,...
-
For a VARMA time series \(\boldsymbol{z}_{t}\), derive the result of Equation (1.20). e-1 T and Te = ve ive-i l>1. i=1 (1.20)
Study smarter with the SolutionInn App