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I wanted to post full question for reference. I already finished problem 1 to this question I just really need help with number 2 and

I wanted to post full question for reference. I already finished problem 1 to this question I just really need help with number 2 and 4 please image text in transcribed
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Maior League Bat Company manufactures baseball bats. In addition to its work in process inventories, the company maintains inventories of raw materials and finished goods. It uses raw materials as direct materials in production and as Indirect materials. Its factory payroll costs include direct labor for production and Indirect labor. All materials are added at the beginning of the process, and conversion costs are applied uniformly throughout the production process. Required: You are to maintain records and produce measures of inventories to reflect the July events of this company. The June 30 balances: Raw Materials Inventory, $34,000; Work in Process Inventory, $10,220 ($3,410 of direct materials and $6,810 of conversion): Finished Goods Inventory, $150,000; Sales, $0; Cost of Goods Sold, $0; Factory Payroll Payable, $0; and Factory Overhead, $0. 1. Prepare journal entries to record the following July transactions and events. a. Purchased raw materials for $190,000 cash (the company uses a perpetual inventory system). b. Used raw materials as follows: direct materials, $55,090; and indirect materials, $17,500 c. Recorded factory payroll payable costs as follows: direct labor, $221,000; and indirect labor, $32,500. d. Paid factory payroll cost of $253,500 with cash ignore taxes). e. Incurred additional factory overhead costs of $95.000 paid in cash. f. Allocated factory overhead to production at 50% of direct labor costs. View transaction list View journal entry worksheet No Transaction General Journal 1 a. Raw materials inventory Cash Credit Debit 190,000 190,000 22 D. Work in process inventory Factory overhead Raw materials inventory 55,090 17,500 72,590 Work in process inventory Factory overhead Factory wagos payable 221,000 32,500 253,500 4 d. 253,500 Factory wages payable Cash 253,500 95,000 Factory overhead Cash 95.000 110,500 Work in process inventory Factory overhead 110,500 2. Information about the July inventories follows. Use this information with that from part 1 to prepare a process cost summary. assuming the weighted-average method is used. (Round "Cost per EUP" to 2 decimal places.) 10.500 units 12,000 units 6,000 unita Units Beginning inventory Started Ending inventory Beginning inventory Materials-Percent complete Conversion-Percent complete Ending inventory Materials-Percent complete Conversion-Percent complete 808 100 400 10,220 Total costs to account for: Cost of beginning work in process Costs incurred this period Total costs to account for: 10.220 Unit reconciliation: Units to account for: Total units accounted for Beginning work in process inventory - units Total units to account for Total units accounted for: Units completed and transferred out Ending work in process - units Total units accounted for Equivalent units of production (EUP)- weighted average method 6,000 18.000 Units % Materials EUP. Materials % Labor EUP. Conversion 12.000 Units completed and transferred out Ending work in process- units 0.000 % Materials EUP-Materials % Labor EUP Conversion Units to account for: Total units accounted for Beginning work in process inventory - units 10,500 Total units to account for Total units accounted for: Units completed and transferred out 12,000 Ending work in process - units 6,000 Total units accounted for 18,000 Equivalent units of production (EUP)- weighted average method Units Units completed and transferred out 12.000 Ending work in process - units 6,000 Total units 18,000 Cost per equivalent unit of production Cost of beginning work in process Costs incurred this period Total costs + Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total costs accounted for: Cost of units transferred out: EUP Materials Conversion Costs EUP Costs EUP Cost per EUP Total cost Direct materials EUP Conversion Total costs transferred out Costs of ending goods in process Direct materials Conversion Total cost of ending goods in process Total costs accounted for Cost per EUP $ 0.00 $ 0.00 Total cost $ 0 3. Using the results from part 2 and the available information, make computations and prepare journal entries to record the following: 9. Total costs transferred to finished goods for July h. Sale of finished goods costing $303,200 for $700,000 in cash. View transaction list Journal entry worksheet 2 3 Record the transfer of goods to Finished Goods Inventory. Note: Enter debits before credits. Debit Credit Transaction 9. General Journal Finished goods inventory Work in process inventory Record entry Clear entry View general journal 4. Post entries from parts 1 and 3 to the following general ledger accounts. Raw Materials Inventory Date Debit Credit Acct. No. 132 Balance Work in Process Inventory Date Debit Credit June 30 Acct. No. 133 Balance 10,220 June 30 Finished Goods Inventory Date Debit Credit June 30 Acct. No. 135 Balance 150,000 Factory Wages Payable / Debit Create Acct. No. 212 Balance Date Sales Debit Acct. No. 413 Balance Cost of Goods Sold Debit Acct. No. 502 Balance Date Credit Date Credit Factory Overhead Debit Acct. No. 540 Balance Date Credit 5. Compute the amount of gross profit from the sales in July (Add any underapplied overhead to, or deduct any overapplied overhead from, the cost of goods sold.) Gross profit

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