Wonder floor makes carpets with 2 departments

Reference no: EM13672703

Wonder Floor makes carpets with 2 departments involved in production. Fiber is placed in process in the Spinning Department, where it is spun into yarn. The output of Spinning is transferred to the Tufting Department, where carpet is added, and the process is completed. Manufacturing operations follows:
Materials purchased on account = $84,600
Materials requisitioned for use:

Fiber - Spinning Dept = $42,800

Carpet - Tufting Dept = $34,400

Indirect Material - Spinning = $3,000

Indirect Materials - Tufting = $4,000

Labor used:

DL - Spinning = $23,000

DL - Tufting = $34,000

Indirect Labor - Spinning = $7,000

Indirect Labor - Tufting = $10,000

Depreciation on fixed assets:

Spinning = $2,000

Tufting = $1,500

Production Costs transferred from Spinning to Tufting = $80,000
Production Costs transferred from Tufting to ? = $130,000
COGS during period = $150,000

Journalize the entries to record the operations

Reference no: EM13672703

Questions Cloud

Question on international accounting : Question on International Accounting.

What is their taxable income : 1.Lisa and Luis, ages 43 and 38, are married and file a joint return. In addition to having FOUR dependent children (Yandra, Kayanna, Niosha and Lisbec), Lisa and Luis have adjusted gross income ("AGI") of $90,000 and itemized deductions of $2..

Assignment you are an entrepreneur : Assignment You are an Entrepreneur

Calculate the cogs for the give years : Calculate the budgeted sales for the 4 years and company has taken a loan for financing the new machine for apple juice production, this has been added to long term debt.

Wonder floor makes carpets with 2 departments : Wonder Floor makes carpets with 2 departments involved in production.

Briefly describe the reporting units : 1. Briefly describe the reporting units that compose the consolidated entity of that non-profit. How are they operationally interrelated?

Evaluate the circumstances that contributed to the privacy : Evaluate the circumstances that contributed to the privacy violation

Revenue expenditures and capital expenditures : Explaining the differences between revenue expenditures and capital expenditures

Project for financial and performance management : Final Project for Financial and Performance Management, you will prepare and submit a consultancy report to the management of Anthony's Orchard

User Account

All Pages