scan0008 - PROBLEM 2-3A(a(i Raw Materials Inventory 5,000...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: PROBLEM 2-3A (a) (i) Raw Materials Inventory .................................................... 5,000 Accounts Payable ....................................................... 5,000 Factory Labor ........................................................................ 8,000 Cash ................................................................................ 8,000 Manufacturing Overhead .................................................. 1,400 Cash ................................................................................ 1,400 (ii) Work in Process Inventory ............................................... 5,800 P‘M Manufacturing Overhead .................................................. 1,500 Raw Materials Inventory ........................................... 7,300 Workin Process inventory ............................................... 6,000 9” Manufacturing Overhead .................................................. 2,000 u- Factory Labor ............................................................... 8,000 Work in Process Inventory ............................................... 4,800 li‘)‘ ($6,000 X .80) Manufacturing Overhead .......................................... 4,800 (iii) Finished Goods Inventory ................................................ 20,860 Work in Process Inventory ........... 20,860 Direct Direct Manufacturing Total Job Materials Labor Overhead* Costs _____—_.__——___.._._.——-—_...— Farley $3,000 $2,400 $1 ,920 $ 7,320 Hendricks 2,600 2,200 1,760 6,560 60 Minor 3,200 2,100 1,680 6,980 2% O . *80% of direct labor amount ‘ Cash ......................................................................................... 37,500 Sales (3 X $12,500) ..................................................... 37,500 V Cost of Goods Sold ............................................................. 20,860 Finished Goods Inventory ....................................... 20,860 2-24 ...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern