Journalize the cost of transferred-in materials

Assignment Help Accounting Basics
Reference no: EM132777471

Problem - The cost of materials transferred into the Bottling Department of Rocky Springs Beverage Company is $22,800, including $20,000 from the Blending Department and $2,800 from the materials storeroom. The conversion cost for the period in the Bottling Department is $8,790 ($3,790 factory overhead applied and $5,000 direct labor). The total cost transferred to Finished Goods for the period was $31,980. The Bottling Department had a beginning inventory of $1,860.

Required -

a. Journalize (1) the cost of transferred-in materials, (2) conversion costs, and (3) the costs transferred out to Finished Goods.

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

Reference no: EM132777471

Questions Cloud

How many ounces were started and completed during the period : The ending work in process inventory was 8,000 ounces. How many ounces were started and completed during the period
Development and execution of operations : Interagency cooperation that influence the Commander and Joint Task Forces Commander in the development/execution of operations?
Evaluate the change in the cost of energy between two months : The number of equivalent units produced in March and April was 70,000 liters. Evaluate the change in the cost of energy between the two months
Identify components of the grieving model : Identify components of the grieving model that you think might be difficult to apply to your social work practice. Explain why you anticipate these challenges.
Journalize the cost of transferred-in materials : Journalize (1) the cost of transferred-in materials, (2) conversion costs, and (3) the costs transferred out to Finished Goods
How culture and diversity influence the disorders : How culture and diversity influence these disorders. Consider how gender, age, socioeconomic status, sexual orientation, and/or ethnicity/race affect
Find direct materials and conversion costs : The conversion cost for the period in the Bottling Department is $8,790. Find direct materials and conversion costs per equivalent unit
Historical circumstances of supreme court case : Identify the historical circumstances of the Supreme Court Case. Do you agree or disagree with the Supreme Court decision?
What characteristics made vic ahmed successful entrepreneur : What characteristics made Vic Ahmed a successful entrepreneur? How did their Ahmed and Steven Case's partnership and shared vision of "Rise of the Rest" serve.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the carrying amount of goodwill in the consolidated

Sansom plc has two subsidiaries, What is the carrying amount of goodwill in the consolidated statement of financial position at 31 December 20X4?

  How does each affect the cost of goods soldwhat elements

1. what are the acceptable inventory valuation methods under the u. s. gaap?2. how does each affect the valuation of

  Prepare a cash budget for the triple -f health club

he club purchased $25,000 worth of excersise equipment during the current fiscal year. Prepare a cash budget for 2018 for the Triple -F health club

  Journalize the entry to close the Income Summary account

Polasky and Willmann have formed a partnership. Journalize the entry to close the Income Summary account for the year

  Compute the cost of the ending inventory

Compute the cost of the ending inventory under the average-cost method, assuming there are 360 units on hand

  If the relative sales value method is used to allocate the

if the relative sales value method is used to allocate the joint costs what is the total cost allocated to

  Problem regarding the financial executives institute

1) According to the Financial Executives Institute, one function of controllership is _____. 2) Performance reports _____.

  Wheeler company issued 5000 shares of its 5 par value

wheeler company issued 5000 shares of its 5 par value common stock having a fair value of 25 per share and 7500 shares

  What is meant by the term short-term profit-planning model

the owner of a package delivery business is currently evaluating the choice between two different cost structures based

  Machine breakdowns or other work interruptions

The standards that allow for no machine breakdowns or other work interruptions and that require peak efficiency at all times are referred to as:

  Use of assets accumulated in a trust fund

Which of the following funds can be used to account for the spendable income from a Private Purpose Trust Fund?

  Accounting for uncollectible patient accounts

Assuming the patient owed the hospital $3,000, prepare the entry or entries necessary to record the uncollectible account.

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!

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