1 answer

First I used $10,000 in direct materials making my product. Then I used $20,000 in direct...

Question:

First I used $10,000 in direct materials making my product. Then I used $20,000 in direct labor. Last I used $5000 in manufactuing overhead. Then I sold my product. Put the journal entries in order.

Cost of goods sold 35000

                    Finished Goods Inventory 35000

Work in process Inventory 10000

                                           Raw Materials 10000

Work in process Inventory 5000

                                               Manufacturing overhead 5000

Finished Goods Inventory 35000

                                             Work in Process Inventory 35000


Answers

Answer

--Sequence of journal entries would be

Accounts title Debit Credit
Work in process Inventory $10,000
   Raw material $10,000
(direct aterial used)
Work in process Inventory $20,000
   Direct kabor cost $20,000
(direct labor used)
Work in process Inventory $5,000
   Manufacturing Ovehread $5,000
(overheads applied)
Finished Goods inventory $35,000
   Work in process inventory $35,000
(work completed)
Cost of Goods Sold $35,000
   Finished Goods inventory $35,000
(cost of goods sold)
.

Similar Solved Questions

1 answer
Find the next Laplace transforms Parte 1: Encuentre las siguientes transformadas de Laplace (7 puntos cada uno) 1) L(e-t) 2) Lit e-t) 3) Licos2t) 4) Litcosv3t) 6) L- 8)じ 9) L-11 Parte 1: En...
find the next Laplace transforms Parte 1: Encuentre las siguientes transformadas de Laplace (7 puntos cada uno) 1) L(e-t) 2) Lit e-t) 3) Licos2t) 4) Litcosv3t) 6) L- 8)じ 9) L-11 Parte 1: Encuentre las siguientes transformadas de Laplace (7 puntos cada uno) 1) L(e-t) 2) Lit e-t) 3) Licos2...
1 answer
Find Can, x]pg" - * for the given values of n, x, and p. (Round your...
Find Can, x]pg" - * for the given values of n, x, and p. (Round your answer to four decimal places.) n = 8,x - 3,0 - 3...
1 answer
A solution containing CaCl is mixed with a solution of LICO, to form a solution that...
A solution containing CaCl is mixed with a solution of LICO, to form a solution that is 2.1 x 10 Min calcium ion and 4.75 x 10 Min Oxalate lon. What will happen once these solutions are mbed? Kp (Cac 04) - 23 x 10 Nothing will happen since calcium oxalate is extremely soluble . Nothing will happen s...
1 answer
Find the differential of the function. z = 7t- - 1 / 1 7 +2 dz...
Find the differential of the function. z = 7t- - 1 / 1 7 +2 dz = Submit Answer...
1 answer
Complete and balance each of the following equations for gas-evolution reactions. Part A: HBr(aq) +ZnS(s)----> Part...
Complete and balance each of the following equations for gas-evolution reactions. Part A: HBr(aq) +ZnS(s)----> Part B:NH4I(aq)+NaOH(aq) Part C:HNO(aq)+Na2S(aq)...
1 answer
What is a solution to the differential equation #(x^2)(e^y)dy/dx=4#?
What is a solution to the differential equation #(x^2)(e^y)dy/dx=4#?...
1 answer
(References) This question has multiple parts. Work all the parts to get the most points. The...
(References) This question has multiple parts. Work all the parts to get the most points. The reaction 2NO() + 2H2(g) → N (9) + 2H20(9) was studied at 904°C, and the data in the table were collected, Reaction Rate of Trial Concentration Appearance of Ne (mol/L) (mol/L-s) [NO] [H.] 1 0.420 0...
1 answer
I need help filling in the stock holder's equity section!!! E2-16 Preparing a Balance Sheet LO2-5...
I need help filling in the stock holder's equity section!!! E2-16 Preparing a Balance Sheet LO2-5 Higgins Company began operations last year. You are a member of the management team investigating expansion ideas that will require borrowing funds from banks. At the start of the current year, Higg...
1 answer
Corona virus is estimated to cause a severe negative shock in output Y. Using the Money...
Corona virus is estimated to cause a severe negative shock in output Y. Using the Money market/exchange rate Market graphs-toolkit, show what the short run impact in money market (money demand) will be and in US interest rates, exchange rates, current account and US output Y. Show what the Fed shoul...
1 answer
6) (28 points) A company is considering a replacement for an aging machine that has been...
6) (28 points) A company is considering a replacement for an aging machine that has been fully depreciated for tax purposes. The new machine will have an initial cost of $400,000 and is expected to generate an income of $125,000 per year. Its estimated salvage value at the end of its useful life of ...
1 answer
Quesli Started: Jan 27 at 11:09am nents Quiz Instructions © Questi Questic Questic Questic Questic Questi...
Quesli Started: Jan 27 at 11:09am nents Quiz Instructions © Questi Questic Questic Questic Questic Questi Questic Question 1 0.5 pts Excel provides a variety of tools for designing a spreadsheet, which is referred to as a worksheet in the Excel application. Time Running: Attempt due: Jan 2 27 M...
1 answer
Let a vector z Rn be given. For X > 0 consider the problem (i) Show...
Let a vector z Rn be given. For X > 0 consider the problem (i) Show that for any λ 0 this problem has a unique solution「. (ii) Determine the unique solution「(as a function of λ and 2) Hint: Note that Λ is not differentiable everywhere. Remark: The solution of (i...
1 answer
Check if the equation is exact and find your solution (2xy2 – 7)dx + (2x+y +...
Check if the equation is exact and find your solution (2xy2 – 7)dx + (2x+y + 8)dy = 0...
1 answer
2.- Let r(t) = (121,842/2, 31) and let (t) be the arc length function of r()...
2.- Let r(t) = (121,842/2, 31) and let (t) be the arc length function of r() based at t=0. Calculate 8(t) as an elementary formula in t. You may assume that t > 0....
1 answer
What kind of complications would you see with the infiltration of a peripheral IVPB of Potassium?...
What kind of complications would you see with the infiltration of a peripheral IVPB of Potassium? please provide a reference if possible thanks...
1 answer
Theoretically synthesize diphenhydramine using only the following compounds: 2-chloro-N,N-dimethylethanamine Benzene Cl Benzaldehyde Diethyl ether Magnesium ribbon...
Theoretically synthesize diphenhydramine using only the following compounds: 2-chloro-N,N-dimethylethanamine Benzene Cl Benzaldehyde Diethyl ether Magnesium ribbon Iron(Il) chloride H2O Show your work when mapping out the process step by step. Show how to make the parts, and how to link them togethe...
1 answer
Hearne Company has a number of potential capital investments. Because these projects vary in nature, initial...
Hearne Company has a number of potential capital investments. Because these projects vary in nature, initial investment, and time horizon, management is finding it difficult to compare them. Assume straight line depreciation method is used. Project 1: Retooling Manufacturing Facility This project wo...