Stefan Ceramics is in the business of selling ceramic vases. It has two​ departments, molding and finishing. Molding department purchases tungsten carbide and produces ceramic vases out of it. Ceramic Vases are then transferred to finishing​ department, which designs it as per the requirement of the customers. During the month of​ July, molding department purchased 720 kgs of tungsten carbide at​ $280 per kg. It started manufacture of​ 4,200 vases and completed and transferred​ 3,800 vases durin

1 answer
Question:

Stefan Ceramics is in the business of selling ceramic vases. It has two​ departments, molding and finishing. Molding department purchases tungsten carbide and produces ceramic vases out of it. Ceramic Vases are then transferred to finishing​ department, which designs it as per the requirement of the customers. During the month of​ July, molding department purchased 720 kgs of tungsten carbide at​ $280 per kg. It started manufacture of​ 4,200 vases and completed and transferred​ 3,800 vases during the month. It has 400 vases in the process at the end of the month. It incurred direct labor charges of​ $1,500 and other manufacturing costs of​ $1,300, which included electricity costs of​ $300. Stefan had no inventory of tungsten carbide at the end of the month. It also had no beginning inventory of vases. The ending inventory was​ 50% complete in respect of conversion costs. Which of the following journal entry would record the tungsten carbide purchased and used in production during​ July?

Answers

Answer:The following entries would be made.Stefan Ceramics Sr. No                Particulars                 Debit                 credit 1               Merchandise Inventory      291600                 Accounts Payable/ Cash                                    291600For purchase of  720 kgs of tungsten carbide at​ $280 per kg (720*280=291600)Accounts Payable or cash depending on whether material was purchased for cash or through accounts payable( creditors).2                 Work In Process               291600  Dr                                  Merchandise Inventory      291600 CrFor use of  720 kgs of tungsten carbide . As there is no ending inventory the whole of the material is charged to production.

Similar Solved Questions

2 answers

Hard body parts that support your body

hard body parts that support your body...
1 answer

They had to hire a(n) ___ because Jane was not qualified to produce all the documents for the audit in June. A. auditor B. accountant C. bookkeepe

They had to hire a(n) ___ because Jane was not qualified to produce all the documents for the audit in June. A. auditor B. accountant C. bookkeepe...
2 answers

It takes 3 minutes to heat a meal in the microwave. Which expression could be used to figure out the number of seconds it takes to heat a meal? (60 seconds = 1 minute) A. 3 + 60 B. 60 × 3 C. 60 + 3 D. 60 ÷ 3

It takes 3 minutes to heat a meal in the microwave. Which expression could be used to figure out the number of seconds it takes to heat a meal? (60 seconds = 1 minute) A. 3 + 60 B. 60 × 3 C. 60 + 3 D. 60 ÷ 3...
2 answers

Which is an advantage of consuming natural foods instead of dietary supplements?

Which is an advantage of consuming natural foods instead of dietary supplements?...
1 answer

What is the purpose of informational text? to convey information to share vocabulary to entertain its readers to tell a storyWhat is the purpose of informational text? to convey information to share vocabulary to entertain its readers to tell a story

What is the purpose of informational text? to convey information to share vocabulary to entertain its readers to tell a storyWhat is the purpose of informational text? to convey information to share vocabulary to entertain its readers to tell a story...
2 answers

The area of a triangle is 6 square feet. The base is 3 times its height. What is the base of the triangle?

The area of a triangle is 6 square feet. The base is 3 times its height. What is the base of the triangle?...
2 answers

What additional information could be used to prove that triangle XYZ is congruent to triangle Fe.g. using asa or aas check all that apply

What additional information could be used to prove that triangle XYZ is congruent to triangle Fe.g. using asa or aas check all that apply...
1 answer

What shape can be formed from the following net?​

what shape can be formed from the following net?​...
1 answer

Suppose you use a microphone to look at a cell from the skin of an onion. What structure will you see that would not be found in a cell from your skin

Suppose you use a microphone to look at a cell from the skin of an onion. What structure will you see that would not be found in a cell from your skin...
1 answer

Which answers show the bonds in order of decreasing polarity (least polar to most polar)? Group of answer choices P-Cl, As-Cl, N-Cl As-Cl, N-Cl, P-Cl P-Cl, N-Cl, As-Cl As-Cl, P-Cl, N-Cl N-Cl, P-Cl, As-Cl

Which answers show the bonds in order of decreasing polarity (least polar to most polar)? Group of answer choices P-Cl, As-Cl, N-Cl As-Cl, N-Cl, P-Cl P-Cl, N-Cl, As-Cl As-Cl, P-Cl, N-Cl N-Cl, P-Cl, As-Cl...
1 answer

Imagine being in an unfamiliar place and being forced to separate from your parents. How would you feel? How would you cope in that situation? If you could take one person in your family to protect/help you, who would it be and why? Only put 8 sentences!

Imagine being in an unfamiliar place and being forced to separate from your parents. How would you feel? How would you cope in that situation? If you could take one person in your family to protect/help you, who would it be and why? Only put 8 sentences!...
2 answers

How are you gonna fix the problem? No one wanted to be the goalie. the students judt stood and wont stop arguing about who is gonna play in that position?

How are you gonna fix the problem? No one wanted to be the goalie. the students judt stood and wont stop arguing about who is gonna play in that position?...
1 answer

The lower atmosphere and hydrosphere are bound to earth by

the lower atmosphere and hydrosphere are bound to earth by...
2 answers

A scientist is using a lithium ion battery to power her laptop. Which statement about the battery is correct? (1 point) A.) Electrons are lost to the environment when the battery is used. B.) Lithium atoms are created as the battery recharges. C.) The mass of the battery increases when it is recharged. D.) A new substance is formed as the battery is used.

A scientist is using a lithium ion battery to power her laptop. Which statement about the battery is correct? (1 point) A.) Electrons are lost to the environment when the battery is used. B.) Lithium atoms are created as the battery recharges. C.) The mass of the battery increases when it is rechar...
2 answers

A scale drawing of a square has a side length of 9 centimeters. The drawing has a scale of 1 cm : 8 ft. Find the actual perimeter and area of the square.

A scale drawing of a square has a side length of 9 centimeters. The drawing has a scale of 1 cm : 8 ft. Find the actual perimeter and area of the square....
1 answer

If f'(x)=2/x and f(sqrt(e))=5, then f(e)=

If f'(x)=2/x and f(sqrt(e))=5, then f(e)=...
2 answers

What is the greatest common factor for 50 and 20

what is the greatest common factor for 50 and 20...
1 answer

The function f(x) = -3/4x^2 +9/2x models, in feet, the shape of a doorway arch on a historic building. How high is the opening of the arch? 6.75 feet 3 feet 6 feet 7.25 feet

The function f(x) = -3/4x^2 +9/2x models, in feet, the shape of a doorway arch on a historic building. How high is the opening of the arch? 6.75 feet 3 feet 6 feet 7.25 feet...
1 answer

ASAP!! (12y + 8) (5y + 2) 2x st (sy​

ASAP!! (12y + 8) (5y + 2) 2x st (sy​...

-- 0.019254--