1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
suter [353]
3 years ago
9

Ellis Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just comple

ted year: Raw materials purchased on account $475,000 Raw materials (all direct) requisitioned for use in production $476,000 Direct labor cost $640,000 Manufacturing overhead: Indirect labor cost $174,000 Other manufacturing overhead costs incurred $498,000 Cost of goods manufactured $1,469,000 Cost of goods sold (unadjusted) $1,430,000 6. The journal entry to record the transfer of completed goods from Work in Process to Finished Goods is:
Business
1 answer:
shusha [124]3 years ago
4 0

Answer:

It is the Cost of Goods Manufactured that should be transferred to the Finished Goods account. As both of them are asset account, adding to the Finished Goods account would debit it and taking from the Work in Process account would credit it.

Date                 Account Title                                          Debit                Credit

XX-XX-XXX     Finished Goods                                $1,469,000

                        Work in Process                                                       $1,469,000

You might be interested in
The Finnish prefer to maintain time-honored traditions and norms and view change with suspicion. Which of Hofstede’s cultural di
NeTakaya
I think it’s an Individualist society

Finland, with a score of 63 is an Individualist society. This means there is a high preference for a loosely-knit social framework in which individuals are expected to take care of themselves and their immediate families only.
8 0
2 years ago
Because there is so much unpredictability in all supply chains, companies must use ___ to make supply chain decisions.
algol13

Because there is so much unpredictability in all supply chains, companies must use Supply Chain Management to make supply chain decisions.

<h3 /><h3>Supply Chain Management: What Is It?</h3>
  • All procedures that convert raw materials into finished commodities are included in supply chain management, which controls the movement of both goods and services.
  • Because all supply chains are inherently unpredictable, businesses must employ supply chain management to make decisions about their supply chains.
  • Businesses can reduce unnecessary expenses and deliver goods to customers more quickly and effectively by using supply chain management.
  • Creating a strategy, locating raw materials, production, distribution, and returns are the top five aspects of supply chain management.

Learn more about Supply Chain Management here:

brainly.com/question/14464030

#SPJ4

8 0
2 years ago
Read 2 more answers
Saint John Industries uses the percentage of credit sales method to estimate Bad Debt Expense. The company reported net credit s
photoshop1234 [79]

Answer:

$33,500

Explanation:

Relevant data provided

Total Credit Sales = $670,000

Percentage of bad debts = 5%

The computation of Bad Debt Expense is shown below:-

Bad Debt Expense = Total Credit Sales × Percentage of bad debts

= $670,000 × 5%

= $33,500

Therefore for computing the bad debt expenses we simply multiply the total credit sales with percentage of bad debts.

5 0
3 years ago
What is strategic procurement ​
Elodia [21]

Hi There :D

Basically it's advanced planning, scheduling, and group buying initiatives, a firm can experience significant cost savings

6 0
3 years ago
Which of the following is something that companies are likely to engage in with famous, well-publicized sports teams?
Gnoma [55]

Sponsorship.

Companies will partner with famous teams and players through sponsorship in order to advertise their product to fans.

5 0
3 years ago
Read 2 more answers
Other questions:
  • Candace has just landed her first job and has the long-term goal to one day buy a house. She needs help investing some of her mo
    5·1 answer
  • Wilson’s is reviewing a project with an internal rate of return of 13.09 percent and a beta of 1.42. The market risk premium is
    12·1 answer
  • A machine costing $251,800 was purchased May 1. The machine should be obsolete after three years and, therefore, no longer usefu
    13·1 answer
  • The Rubber Division of Morgan Company manufactures rubber moldings and sells them externally for $50. Its variable cost is $20 p
    6·1 answer
  • What you have found in your review regarding accounting issues; What you believe the appropriate accounting treatment should be
    7·1 answer
  • Multiple Choice Question 185 A patent a. is nonrenewable. b. is rarely subject to litigation because it is an exclusive right. c
    6·1 answer
  • In Year 4 of the simulation you should launch a new bike into either the Road Bike Market or the Youth Bike Market. Road Bikes r
    10·1 answer
  • Unlike a printed product, online service information<br> can be instantaneously ___ by the provider.
    7·1 answer
  • Banks in Ruritania have a required reserve ratio of 5%5% . Round all answers to one place after the decimal. What is the simple
    7·1 answer
  • when microwave ovens were in the introduction stage of their product life cycle, some consumers were willing to pay exorbitant p
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!