HW 6.docx - UGBA 102B HW 6 Q4-1 E4-1 E4-9 E4-11 E4A-7 E4B-3 E4B-4 Q4-1 Process costing is the most relevant option when there is mass production of

HW 6.docx - UGBA 102B HW 6 Q4-1 E4-1 E4-9 E4-11 E4A-7 E4B-3...

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UGBA 102B HW 6 Q4-1, E4-1, E4-9, E4-11, E4A-7, E4B-3, E4B-4 Q4-1: Process costing is the most relevant option when there is mass production of homogenous items, like chemicals including oil(s), gas, petroleum, etc. E4-1: a. Work in Process - Molding $ 23,000 Work in Process - Firing $ 8,000 Raw Materials $ 31,000 b. Work in Process - Molding $ 12,000 Work in Process - Firing $ 7,000 Wages Payable $ 19,000 c. Work in Process - Molding $ 25,000 Work in Process - Firing $ 37,000 Manufacturing Overhead $ 62,000 d. Work in Process - Firing $ 57,000 Work in Process - Molding $ 57,000 e. Finished Goods $ 103,000 Work in Process - Firing $ 103,000 f. Cost of Goods sold $ 101,000 Finished Goods $ 101,000 E4-9:
UGBA 102B HW 6 Units Materials Labor Overhead WIP beginning 5,000 $4,320 $1,040 $1,790 Units started in process 45,000 Units transferred out 42,000 WIP ending 8,000 Cost added during the month $52,800 $21,500 $32,250 The beginning work in process inventory was 80% complete with respect to materials and 60% complete with respect to labor and overhead. The ending work in process inventory was 75% complete with respect to materials and 50% complete with respect to labor and overhead.

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