Section 6 - Chap 4 - AEM 323 Section Problem Set 6 Covering...

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AEM 323 Section Problem Set 6 Covering Material from Chapter 4 Problem 1 Tennis Ball Co. manufactures tennis balls. First the rubber department creates the rubber core. The balls are then transferred to the felt department, which finishes the tennis balls. T-accounts at Jan 1, 2004: 1000 2000 5000 WIP - rubber dept. WIP - felt dept. COGS Finished Goods A. During 2004, $12,000 in raw materials were used and $6,000 in wages had accrued in the rubber department. Also, $2,000 in overhead was applied to the rubber department. Record the appropriate journal entry. B. Also during 2004, $15,000 in goods were transferred to the felt department. The inventory in the felt department was all completed and transferred out. Record the appropriate journal entries. C. A sale is made for $50,000 cash for tennis balls that cost $18,000 to manufacture. Record the appropriate journal entries. 1
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Problem 2 The packaging department for a brewery cans the beer and then puts it in cases. The following information pertains to the operations of the packaging department in January. Units
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This note was uploaded on 08/31/2010 for the course AEM 3230 taught by Professor Little,j.e. during the Spring '08 term at Cornell University (Engineering School).

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Section 6 - Chap 4 - AEM 323 Section Problem Set 6 Covering...

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