User Account

All Pages

Journalize the cost of transferred-in materials

Assignment Help Managerial Accounting
Reference no: EM132759757

Problem - Process cost journal entries - The cost of materials transferred into the Filling Department of Lilac Skin Care Company is $20,250, including $6,000 from the Blending Department and $14,250 from the materials storeroom. The conversion cost for the period in the Filling Department is $6,372 ($1,600 factory overhead applied and $4,772 direct labor). The total cost transferred to Finished Goods for the period was $25,660. The Filling Department had a beginning inventory of $2,200.

Required -

a. Journalize the cost of transferred-in materials, the conversion costs, and the costs transferred out to Finished Goods.

b. Determine the balance of Work in Process-Filling at the end of the period.

Reference no: EM132759757

Questions Cloud

Evaluate the change in the cost of energy : The number of equivalent units produced in June and July was 42,500 pounds and 39,500 pounds, respectively. Evaluate the change in the cost
Managing competing agendas : you will explore how the organization and policitial environment of an agency or departments can impact the issue you selected
How do they benefit companies : Write an essay of at least 500 words discussing the reasons for the two new auditing roles in Oracle 12c. Why did Oracle consider them necessary?
What total amount should be considered as owner-occupied : What total amount should be considered as owner-occupied property and included in property, plant and equipment in the consolidated statement
Journalize the cost of transferred-in materials : The Filling Department had a beginning inventory of $2,200. Journalize the cost of transferred-in materials, the conversion costs
Writing a description of enterprise risk management : Please summarize, in your own words, a description of enterprise risk management. Why do you feel ERM is different from traditional risk management?
Health maintenance organization : Elaborate on the difference between an HMO and an accountable care organization (ACO).
What is the total amount of factory overhead to be allocated : What is the total amount of factory overhead to be allocated to desk lamps using the multiple production department factory overhead rate method
Activity involved in making-obtaining your beverage : Did you make it yourself or did you buy it? Draw a detailed process map illustrating the activity involved in making/obtaining your beverage.

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd