{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T06:12:07-04:00", "answer_date": "2024-05-27 06:12:07", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1782648", "url": "\/study-help\/questions\/-1782648", "question_creation_date_js": "2024-05-27T06:12:07-04:00", "question_creation_date": "May 27, 2024 06:12 AM", "meta_title": "[Solved] Sierra Company manufactures soccer balls | SolutionInn", "meta_description": "Answer of - Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials ente | SolutionInn", "meta_keywords": "sierra,company,manufactures,soccer,balls,two,sequential,processes,cutting,stitching,direct,materials", "question_title_h1": "Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the cutting process. The", "question_title": "Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching.", "question_title_for_js_snippet": "Sierra Company manufactures soccer balls in two sequential processes Cutting and Stitching All direct materials enter production at the beginning of the cutting process The following information is available regarding its May inventories Beginning Inventory Ending Inventory Raw materials inventory $ 7 1 , 0 0 0 $ 8 5 , 6 0 0 Work in process inventory Cutting 1 7 3 , 5 0 0 1 2 5 , 5 0 0 Work in process inventory Stitching 1 9 3 , 3 0 0 1 0 0 , 8 0 0 Finished goods inventory 4 6 , 1 0 0 3 4 , 2 5 0 The following additional information describes the company's production activities for May Direct materials Raw materials purchased on credit $ 9 0 , 0 0 0 Direct materials used Cutting 2 5 , 0 0 0 Direct materials used Stitching 0 Direct labor Direct labor Cutting $ 2 2 , 1 0 0 Direct labor Stitching 8 8 , 4 0 0 Factory Overhead ( Actual costs ) Indirect materials used $ 5 0 , 4 0 0 Indirect labor used 5 7 , 6 0 0 Other overhead costs 6 0 , 0 0 0 Factory Overhead Rates Cutting 1 5 0 of direct materials used Stitching 1 2 0 of direct labor used Sales $ 7 7 6 , 0 0 0 Required 1 Compute the amount of ( a ) production costs transferred from Cutting to Stitching, ( b ) production costs transferred from Stitching to finished goods, and ( c ) cost of goods sold Hint Compute the total production costs in each department and then subtract the ending inventory to get the amount transferred out of each department ", "question_description": "
Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the cutting process. The following information is available regarding its May inventories.<\/span><\/div>
<\/div>
Beginning Inventory Ending Inventory<\/span><\/div>
Raw materials inventory $ <\/span>7<\/mn>1<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> $ <\/span>8<\/mn>5<\/mn>,<\/mo>6<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> <\/div>
Work in process inventory<\/span><\/mi><\/mrow><\/math>Cutting <\/span>1<\/mn>7<\/mn>3<\/mn>,<\/mo>5<\/mn>0<\/mn>0<\/mn><\/mtext>1<\/mn>2<\/mn>5<\/mn>,<\/mo>5<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> <\/div>
Work in process inventory<\/span><\/mi><\/mrow><\/math>Stitching <\/span>1<\/mn>9<\/mn>3<\/mn>,<\/mo>3<\/mn>0<\/mn>0<\/mn><\/mtext>1<\/mn>0<\/mn>0<\/mn>,<\/mo>8<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> <\/div>
Finished goods inventory <\/span>4<\/mn>6<\/mn>,<\/mo>1<\/mn>0<\/mn>0<\/mn><\/mtext>3<\/mn>4<\/mn>,<\/mo>2<\/mn>5<\/mn>0<\/mn><\/mrow><\/math> <\/div>
The following additional information describes the company's production activities for May.<\/span><\/div>
<\/div>
Direct materials <\/span><\/div>
Raw materials purchased on credit $ <\/span>9<\/mn>0<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> <\/div>
Direct materials used<\/span><\/mi><\/mrow><\/math>Cutting <\/span>2<\/mn>5<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> <\/div>
Direct materials used<\/span><\/mi><\/mrow><\/math>Stitching <\/span>0<\/mn><\/mrow><\/math> <\/div>
Direct labor <\/span><\/div>
Direct labor<\/span><\/mi><\/mrow><\/math>Cutting $ <\/span>2<\/mn>2<\/mn>,<\/mo>1<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> <\/div>
Direct labor<\/span><\/mi><\/mrow><\/math>Stitching <\/span>8<\/mn>8<\/mn>,<\/mo>4<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> <\/div>
Factory Overhead <\/span>(<\/mi><\/mrow><\/math>Actual costs<\/span>)<\/mi><\/mrow><\/math> <\/span> <\/div>
Indirect materials used $ <\/span>5<\/mn>0<\/mn>,<\/mo>4<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> <\/div>
Indirect labor used <\/span>5<\/mn>7<\/mn>,<\/mo>6<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> <\/div>
Other overhead costs <\/span>6<\/mn>0<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> <\/div>
Factory Overhead Rates <\/span><\/div>
Cutting <\/span>1<\/mn>5<\/mn>0<\/mn>%<\/mo><\/mrow><\/math> of direct materials used<\/span> <\/div>
Stitching <\/span>1<\/mn>2<\/mn>0<\/mn>%<\/mo><\/mrow><\/math> of direct labor used<\/span> <\/div>
<\/span><\/div>
Sales $ <\/span>7<\/mn>7<\/mn>6<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> <\/div>
Required:<\/span><\/div>
1<\/mn>.<\/mo><\/mrow><\/math> Compute the amount of<\/span> <\/div>
<\/div>
(<\/mi><\/mrow><\/math>a<\/span>)<\/mi><\/mrow><\/math> production costs transferred from Cutting to Stitching,<\/span> <\/div>
(<\/mi><\/mrow><\/math>b<\/span>)<\/mi><\/mrow><\/math> production costs transferred from Stitching to finished goods, and<\/span> <\/div>
(<\/mi><\/mrow><\/math>c<\/span>)<\/mi><\/mrow><\/math> cost of goods sold.<\/span> <\/div>
Hint: Compute the total production costs in each department and then subtract the ending inventory to get the amount transferred out of each department.<\/span><\/div><\/span> <\/div><\/div>", "transcribed_text": "", "related_book": { "title": "Managerial Accounting", "isbn": "9780470546888, 9780470333341, 470546883, 470333340, 978-0470578797", "edition": "4th edition", "authors": "James Jiambalvo", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/259.jpg", "uri": "\/textbooks\/managerial-accounting-4th-edition-259", "see_more_uri": "" }, "free_related_book": { "isbn": "1260020185", "uri": "\/textbooks\/chemistry-in-context-applying-chemistry-to-society-9th-edition-978-1260020182-154680", "name": "Chemistry In Context Applying Chemistry To Society", "edition": "9th Edition" }, "question_posted": "2024-05-27 06:12:07", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/macroeconomics-\/suppose-that-the-city-of-new-york-issues-bonds-1282139", "description": ". Suppose that the city of New York issues bonds to raise money to pay for a new tunnel linking New Jersey and Manhattan. An investor named Susan buys one of the bonds on the same day that the city...", "stars": 3 }, { "url": "\/selected-financial-statements-from-a-recent-annual-report-of-the", "description": "Selected financial statements from a recent annual report of The GAP Inc. follow. Use these statements to answer the following questions. Required: 1. What amounts did The GAP report for the...", "stars": 3 }, { "url": "\/study-help\/mcts-self-paced-training-kit-configuring-windows-7\/log-on-to-the-canberra-computer-with-the-kimakers-account-1901934", "description": "Log on to the Canberra computer with the Kim_Akers account. LO.1", "stars": 3 }, { "url": "\/study-help\/theory-of-probability\/87-a-from-the-results-of-section-363-we-can-1982796", "description": "87. (a) From the results of Section 3.6.3 we can conclude that there are n+m1 m1 nonnegative integer valued solutions of the equation x1 + + xm = n. Prove this directly. (b) How many positive...", "stars": 3 }, { "url": "\/joseph-and-erica-husband-and-wife-jointly-own-all-of", "description": "Joseph and Erica, husband and wife, jointly own all of the stock in Velvet Corporation. The two are currently involved in divorce proceedings, and pursuant to those negotiations, they have agreed...", "stars": 3 }, { "url": "\/study-help\/questions\/1-5-pts-given-sets-a-abc-and-bp-9908621", "description": "1. (5 pts) Given sets A = {a,b,c} and B-(p, q, r, s), define a function f : A B. If it is possible to make the function injective, then you must make it injective. If it is possible to make the...", "stars": 3 }, { "url": "\/study-help\/questions\/which-mode-of-transfer-is-most-effective-for-the-transfer-9250267", "description": "Which mode of transfer is \"most\" effective for the transfer of tacit knowledge? a ) Email b ) Document Respositories c ) Online Search d ) Video Conferencing", "stars": 3 }, { "url": "\/study-help\/questions\/a-golf-ball-manufacturer-knows-the-cost-associated-with-various-718003", "description": "A golf ball manufacturer knows the cost associated with various hourly production levels, given below. Production Costs for Golf Balls Production (hundred balls b) 2 5 C(b) 8 = 11 14 17 20 Cost...", "stars": 3 }, { "url": "\/study-help\/questions\/the-integral-test-enables-us-to-bound-the-error-approximation-718016", "description": "The Integral Test enables us to bound the error approximation of the series 1 n=3 n (Inn)3 by the partial sum 8 = $20 20 1 n=3 n (Inn)3 What upper bound does it yield for the error s - 820 ? Give...", "stars": 3 }, { "url": "\/study-help\/questions\/macmillan-learning-the-motion-yx-t-of-a-vibrating-system-815268", "description": "Macmillan Learning The motion y(x, t) of a vibrating system is described by y(x,t) = Age at sin(kx - cot) where x denotes a distance in meters and denotes a time in seconds. Denoting units with...", "stars": 3 }, { "url": "\/study-help\/questions\/a-certain-skincare-companys-profit-in-millions-of-dollars-pt-718298", "description": "A certain skincare company's profit in millions of dollars, P(t), can be modeled by the polynomial function P(t) = -2t +8t2 + 2t, where t represents the number of skincare items produced, in...", "stars": 3 }, { "url": "\/study-help\/questions\/complete-the-equation-for-the-piecewise-function-graphed-below-ao-719644", "description": "Complete the equation for the piecewise function graphed below. ao -7 -6 -5 -4 -3 -2 -1 { f(x) = { 6 + 5 4 { -2 -3 -4 {3 6 if 6 x 3 if 3 \n \n \n \n Answered: 1 week ago", "stars": 3 }, { "url": "\/study-help\/questions\/pa106-supplement-10a-recording-bond-issue-interest-payments-straightline-amortization-8370095", "description": "PA10-6 (Supplement 10A) Recording Bond Issue, Interest Payments (Straight-Line Amortization), and Early Bond Retirement [LO 10-S1] On January 1, 2015, Loop Raceway issued 580 bonds, each with a face...", "stars": 3 }, { "url": "\/ann-hires-a-nanny-to-watch-her-two-children-while", "description": "Ann hires a nanny to watch her two children while she works at a local hospital. She pays the 19 year-old nanny $125 per week for 48 weeks during the current year. a. What is the employers portion of...", "stars": 3 }, { "url": "\/study-help\/valuation-measuring-and-managing\/3-decompose-the-ratio-of-operating-working-capital-to-sales-1675038", "description": "3. Decompose the ratio of operating working capital to sales for ShipCo into operating-cash days, accounts-receivable days, inventory days, accountspayable days, and accrued-expenses days. (For...", "stars": 3 }, { "url": "\/study-help\/valuation-measuring-and-managing\/2-using-the-data-presented-in-question-1-decompose-operating-1675037", "description": "2. Using the data presented in Question 1, decompose operating margin and capital turnover. What has been occurring at ShipCo over the five-year period?What might be driving these results?", "stars": 3 }, { "url": "\/study-help\/valuation-measuring-and-managing\/4-you-are-an-equity-analyst-and-have-computed-the-1675039", "description": "4. You are an equity analyst and have computed the following figures for two manufacturers of paper products. The first, PaperPro, has NOPLAT of $325 million, invested capital without goodwill of...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/-1782647", "next": "\/study-help\/questions\/royal-lawncare-company-produces-and-sells-two-packaged-productsweedban-and-1782649" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching.", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/-1782648" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }": "1" } }