Solutions+for+Homework+4

Solutions+for+Homework+4 - Exercise 4-1 a. To record...

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Exercise 4-1 a. To record issuing raw materials for use in production: Work in Process—Molding Department. ........ 28,000 Work in Process—Firing Department. ............ 5,000 Raw Materials. ........................................ 33,000 b. To record direct labor costs incurred: Work in Process—Molding Department. ........ 18,000 Work in Process—Firing Department. ............ 5,000 Wages Payable. ...................................... 23,000 c. To record applying manufacturing overhead: Work in Process—Molding Department. ........ 24,000 Work in Process—Firing Department. ............ 37,000 Manufacturing Overhead. ........................ 61,000 d. To record transfer of unfired, molded bricks from the Molding  Department to the Firing Department: Work in Process—Firing Department. ............ 67,000 Work in Process—Molding Department. . 67,000 e. To record transfer of finished bricks from the Firing  Department to the finished goods warehouse: Finished Goods. ............................................. 108,000 Work in Process—Firing Department. ..... 108,000 f. To record Cost of Goods Sold: Cost of Goods Sold. ....................................... 106,000 Finished Goods. ...................................... 106,000
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Exercise 4-2   Weighted-Average Method Equivalent Units Materials Conversion Units transferred to the next department. ......... 410,000 410,000 Ending work in process: Materials: 30,000 units × 70% complete. ....... 21,000 Conversion: 30,000 units × 50% complete. ...                           15,000     Equivalent units of production. ......................... 431,000 425,000 Exercise 4-3 Weighted-Average Method Materials Labor Overhead Total Work in process, May 1. ....... $ 14,550 $23,620 $118,100 Cost added during May. .......       88,350       14,330           71,650     Total cost (a). ........................ $102,900 $37,950 $189,750 Equivalent units of  production (b). .................... 1,200
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Solutions+for+Homework+4 - Exercise 4-1 a. To record...

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