Assume the same data from Problem 4. Record all necessary journal entries. Data from Problem 4 DER,

Question:

Assume the same data from Problem 4. Record all necessary journal entries.

Data from Problem 4

DER, Inc., manufactures a single product. The following information is available for 2022:

● Raw materials: Beginning balance: $5,000. Purchased $40,000 on credit. Direct materials used in production were three-fourths of direct materials bought.

● Work in process: Beginning balance: $3,100. Ending balance: $12,900.
Units transferred out: 10,000. All units have the same average cost.

● Finished goods: Beginning balance: 0 units. Ending balance: 1,000 units.

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Managerial Accounting

ISBN: 9780137689453

1st Edition

Authors: Jennifer Cainas, Celina J. Jozsi, Kelly Richmond Pope

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Question Posted: Sep 02, 2023 07:21 AM

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Assume the same data from Problem 4. Record all necessary journal entries. Data from Problem 4 DER,

Question:

Prime costs Indirect labor Factory insurance Utilities Factory depreciation Sales Administrative and selling costs (other than utilities) $55,000 $11,000 $2,500 $8,000 $7,000 (80% relates to production) $14 Per unit $22,000

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Entries 1 Purchase of raw materials Raw materials inventory Accounts payable 2 Transfer of direct ma...View the full answer

Managerial Accounting

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