Integrity Company uses standard costing for each specialized product. The following information is available: Standards: Material...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Integrity Company uses standard costing for each specialized product. The following information is available: Standards: Material 3.0 feet per unit @ P42.00 per foot Labor 2.5 hours per unit @ P75.00 per hour Actual: Production 2,750 units produced during the month Material 8,700 feet used; 9,000 feet purchased @ P45.00 per foot Labor 7,000 direct labor hours @ P79.00 per hour How much is the amount of direct materials debited to Work in Process Inventory? Integrity Company uses standard costing for each specialized product. The following information is available: Standards: Material 3.0 feet per unit @ P42.00 per foot Labor 2.5 hours per unit @ P75.00 per hour Actual: Production 2,750 units produced during the month Material 8,700 feet used; 9,000 feet purchased @ P45.00 per foot Labor 7,000 direct labor hours @ P79.00 per hour How much is the amount of direct materials debited to Work in Process Inventory?
Expert Answer:
Answer rating: 100% (QA)
To calculate the amount of direct materials debited to Work in Process WIP Inventory we need to dete... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Posted Date:
Students also viewed these accounting questions
-
ACME Trailers, Inc. builds tow-behind trailers for business and recreational use. The dimensions of the trailers are 6ft wide by 12ft long by 5ft tall. The trailers are primarily constructed using...
-
Investors need to know how much risk they have to take to confidently expect a certain percentage return. Likewise, managers want to know what? Return shareholders require so that they can decide how...
-
Phoenix Company manufactures only one product and uses a standard cost system. The company uses a plant wide predetermined overhead rate that relies on direct labor-hours as the allocation base. The...
-
Using the adjustment data listed in P3-2 for San Mateo Health Care, indicate the effects of each adjustment on the liquidity metric Quick Assets and profitability metric Net Income - Accrual Basis....
-
Assume that Business Outfitters Inc. in Eye Opener 14 experienced an abnormal inventory shrinkage of $80,750. Business Outfitters Inc. has decided to record the abnormal inventory shrinkage so that...
-
What do you understand by eigenfunction of a system?
-
What is the expectations gap?
-
Ron Williams recently took over as the controller of Johnson Brothers Manufacturing. Last month, the previous controller left the company with little notice and left the accounting records in...
-
A certain substance has a mass per mole of 53 g/mol. When 312 J is added as heat to a 26.0 g sample, the sample's temperature rises from 21.0C to 45.0C. What are the (a) specific heat and (b) molar...
-
A. Ray and Maria Gomez have been married for 3 years. Ray is a propane salesman for Palm Oil Corporation and Maria works as a city clerk for the City of McAllen. Rays birthdate is February 21, 1990...
-
Using your own words, create an AON diagram depicting the following project timeline indicating what the critical path is, the slack times, and the earliest time to finish the project: # -2345678...
-
Georgia Peach Apartments intends to replace the windows for all of the apartments in a large apartment complex over the next 24 months. What type of budget should it develop?
-
DeMarzo Corporation reported net income for 2020 of $300,000, sales of $640,000, expenses (excluding depreciation) of $180,000, and depreciation expense of $60,000. The company's accounts receivable...
-
Amusement park rides can be engineering marvels. Rides that involve free-falls can be the most thrilling. What does it mean to be in a free fall? Can you be in a free-fall when launched upwards?...
-
A partnership has 5 investors each with an equal stake in the company. If the company makes $85386 and each investor pays 27% tax, how much will each investor get to keep if the money is distributed,...
-
Violet Company has sales of $457,000, net operating income of $249,000, average invested assets of $807,000, and a hurdle rate of 12.00 percent. Calculate Violets return on investment and its...
-
5. FarmFresh produces luxury Easter picnic baskets (6 per box) which has the following standard cost per box: Direct Material (on average) 4 kg @ 12 per kg Direct Wages 5 hrs @7 per hour Variable...
-
The figure shows six containers, each of which is filled from the top. Assume that water is poured into the containers at a constant rate and each container is filled in 10 seconds. Assume also that...
-
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy:...
-
Fairway Golf Corporation produces private label golf clubs for pro shops throughout North America. The company uses activity-based costing to evaluate the profitability of serving its customers. This...
-
Comparative financial statements for Weaver Company follow: During 2009, the company sold some equipment for $20 that had cost $40 and on which there was accumulated depreciation of $16. In addition,...
-
Repeat problem 41 with the specimen of size \(100 \times 100 \times 10 \mathrm{~mm}^{3}\) and the dimensions of the cavity \(104 \times 104 \times 9 \mathrm{~mm}^{3}\). Elastic constants of the...
-
Repeat problem 41 with elastic constants of the plastic as \(E=10 \mathrm{GPa}\) and \(v=0.485\). Problem 42: A rectangular plastic specimen of size \(100 \times 100 \times 10 \mathrm{~mm}^{3}\) is...
-
A rectangular plastic specimen of size \(100 \times 100 \times 10 \mathrm{~mm}^{3}\) is placed in a rectangular metal cavity. The dimensions of the cavity are \(101 \times 101 \times 9...
Study smarter with the SolutionInn App