Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Need help with these questions. Please use template provided for them. Thank you Brief Exercise 17-1 Weber Company purchases $48,540 of raw materials on account,
Need help with these questions. Please use template provided for them. Thank you
Brief Exercise 17-1 Weber Company purchases $48,540 of raw materials on account, and it incurs $61,410 of factory labor costs. Journalize the two transactions on March 31 assuming the labor costs are not paid until April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Mar.31 (To record raw materials purchased.) 31 (To record factory labor costs.) Click if you would like to Show Work for this question: Credit \fBrief Exercise 17-3 Weber Company purchases $45,280 of raw materials on account, and it incurs $63,290 of factory labor costs. Supporting records show that (a) the Assembly Department used $30,050 of raw materials and $45,850 of the factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 200% of labor costs. Journalize the assignment of overhead to the Assembly and Finishing Departments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Mar.31 Click if you would like to Show Work for this question: Credit Exercise 17-3 (Part Level Submission) The ledger of Custer Company has the following work in process account. Work in ProcessPainting 5/1 5/31 5/31 5/31 Balance Materials Labor Overhead 5/31 Balance 3,790 5/31 6,780 4,790 1,340 Transferred out ? ? Production records show that there were 550 units in the beginning inventory, 30% complete, 1,560 units started, and 1,520 units transferred out. The beginning work in process had materials cost of $2,350 and conversion costs of $1,440. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. (a) (a) How many units are in process at May 31? Work in process, May 31 units (b) What is the unit materials cost for May? (Round unit cost to 3 decimal places, e.g. 2.257.) $ The unit materials cost for May (c) What is the unit conversion cost for May? (Round unit cost to 3 decimal places, e.g. 2.257.) The unit conversion cost for May Click if you would like to Show Work for this question: $ Open Show Work \fBrief Exercise 17-5 In Lopez Company, total material costs are $44,700, and total conversion costs are $54,600. Equivalent units of production are materials 10,000 and conversion costs 12,000. Compute the unit costs for materials, conversion costs, and total manufacturing costs. (Round answers to 2 decimal places, e.g. 2.25.) Materials cost per unit Conversion cost per unit Total manufacturing cost per unit Click if you would like to Show Work for this question: $ $ $ Open Show Work Production costs chargeable to the Finishing Department in June in Cascio Company are materials $16,600, labor $32,880, overhead $19,450. Equivalent units of production are materials 20,690 and conversion costs 20,170. Compute the unit costs for materials and conversion costs. (Round answers to 2 decimal places, e.g. 2.25.) Materials cost per unit Conversion cost per unit Click if you would like to Show Work for this question: $ $ Open Show WorkStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started