Acct 3270 Chapter 4 Hw Ho Solutions

Acct 3270 Chapter 4 - 4-22 1 Dr Work-in-process Cr Direct Materials Dr Work-in-process Cr Wages payable Dr Work-in-process Cr Manufacturing

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4-22 1) Dr. Work-in-process 98,000 Cr. Direct Materials 98,000 2) Dr. Work-in-process 50,000 Cr. Wages payable 50,000 3) Dr. Work-in-process 60,000 Cr. Manufacturing Overhead 60,000 4) Dr. Manufacturing Overhead 64,000 Cr. Accrued Expenses 64,000 5) Dr. Finished Goods 210,000 Cr. Work-in-process 210,000 6) Dr. Cost of goods sold 200,000 Cr. Finished Goods 200,000 7) Dr. Accounts Receivable* 250,000 Cr. Sales 250,000 *Amount calculated as follows: Gross margin = (sales - cost of goods sold)/(sales) .2 = (X - 200,000)/X X = 250,000
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4-44 Beg Bal 15,000 Beg Bal 1,000 DM 20,000 35,000 20,000 DL * 33,000 40,000 OVHD** 22,000 End. Bal 30,000 End. Bal 36,000 Beg Bal 10,000 40,000 30,000 30,000 End. Bal 20,000 1,000 Beg Bal 22,000 Applied 40,000 50,000 End Bal Manuf OVHD ACT 24,000 * Calculated as 1,650hours * $20/hour ** Calculated as $44 per hour * 500 hours 1) d 2) c 3) f 4) a 5) e 6) c 7) d 8) a 9) e 10) a NOTE: Questions like 8 & 9 will not be on the exam. A question like # 10 are more appropriate. Payroll Liability Manuf OVHD Applied Direct Materials Work in Process Finished Goods Cost of Goods Sold
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4-32 1) JOB 410 JOB 411 Total Direct Materials 19,000 12,000 31,000 Direct Labor 4,000 6,000 10,000 Manuf OVHD 12,000 18,000 30,000 Total 35,000 36,000 71,000
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This note was uploaded on 03/27/2008 for the course ACCT 3270 taught by Professor Olvera during the Spring '08 term at North Texas.

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Acct 3270 Chapter 4 - 4-22 1 Dr Work-in-process Cr Direct Materials Dr Work-in-process Cr Wages payable Dr Work-in-process Cr Manufacturing

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