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Lemur [1.5K]
3 years ago
5

Recording Issuing of Materials Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 94

5 Fiberglass 78 $20,240 946 Plastic 93 9,890 947 Glue Indirect 1,098 948 Wood 99 3,622 949 Aluminium 108 38,468 a. Determine the amount of materials transferred to Work in Process and Factory Overhead for the current month. Materials transferred to Work in Process
Business
1 answer:
babymother [125]3 years ago
6 0

Answer:

Work in process = $72,220

Factory Overhead = $1,098

Explanation:

DATA

No.      Material     Job No.        Amount

945     Fiberglass     78           $20,240

946       Plastic         93             $9,890

947      Glue            Indirect        $1,098

948     Wood              99           $3,622

949     Aluminium      108         $38,468

Required:  Amount of materials transferred to Work in Process and Factory Overhead?

Solution

Work in process = sum of all direct material cost

Work in process = $20,240 + $9.890 + $3,622 + $38,468 = $72,220

Factory Overhead = sum of all indirect material cost

Factory Overhead = $1,098

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Single feature model

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3 years ago
using a perpetual inventory system, what is recorded when a customer returns a product and gets the cash back and the product is
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A credit to cash, a debit to sales returns and allowances, a credit to inventory, and a debit to cost of goods sold are all recorded.

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3 0
1 year ago
Bonita Industries has estimated that total depreciation expense for the year ending December 31, 2018 will amount to $583000, an
Mice21 [21]

Answer:

<u><em>Total expenses 936,500</em></u>

depreciation 291,500

wages expense 645,000

Explanation:

Assuming the depreciation are calculate base on straight line or that their output is lineal through the year:

It will be half of the depreciation for the year.

583,000 / 2 =  291,500 depreciation expense for six-month

For the year-end bonused It wll be the same ideal, we assume are earned equally during the year. So at half year half of the bonuses should be earned:

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3 years ago
Life insurance companies tend to invest in long-term assets such as loans to manufacturing firms to build factories or to real e
andriy [413]

Answer:

The answers are:

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