Professional Documents
Culture Documents
XXX
XXX
Job 101 was the only job in process at January 31. The job
cost sheet for this job contained the following costs at the
beginning of the month:
2
.
3
.
4
.
5
.
6
.
7
.
8
.
Work in Process
Manufacturing Overhead
Wages Payable
XXX
XXX
Salary Expense
Wages Payable
XXX
Manufacturing Overhead
Accumulated Depreciation
XXX
Work in Process
Raw Materials
XXX
Work in Process
Manufacturing Overhead
XXX
XXX
Direct materials........................................
Direct labor.............................................
Applied manufacturing overhead.................
XXX
XXX
Manufacturing Overhead
Raw Materials
XXX
XXX
Finished Goods
Work in Process
Raw Materials
Accounts Payable
XXX
XXX
XXX
XXX
QUESTIONS:
1.The entry to record the purchase of raw materials is:
2. The entry to transfer the cost of goods manufactured for
the period is:
3. The entry to record the application of overhead is:
4. The entry to record depreciation on manufacturing
equipment is:
Use the following to answer questions 5-10:
On November 1, Arvelo Corporation had P32,000 of raw
materials on hand. During the month, the company purchased
an additional P78,000 of raw materials. During November,
P95,000 of raw materials were requisitioned from the
storeroom for use in production. These raw materials included
both direct and indirect materials. The indirect materials
totaled P3,000.
Questions:
5. The debits to the Raw Materials account for the month of
November total:
6. The credits to the Raw Materials account for the month of
November total:
7. The debits to the Work in Process account as a
consequence of the raw materials transactions in November
total:
8. The credits to the Work in Process account as a
P4,000
2,000
3,000
Questions:
11. The cost of goods manufactured for February was:
12.For the month of February, the manufacturing
overhead was:
Use the following to answer questions 13-16:
The information below has been taken from the cost records
of Tercel Company for the past year:
Beginning
P75,000
80,000
90,000
Ending
P85,000
30,000
110,000
5,700
8,000
7,800
Use the following to answer questions 17-19:
The following data are for Potras Company:
Beginning
Finished goods inventory................ P30,000
Work in process inventory...............
20,000
Raw materials inventory.................
21,000
Purchases of raw materials........................
Factory depreciation..................................
Other factory costs...................................
Direct labor.............................................
Indirect labor...........................................
Selling expense........................................
Underapplied or overapplied overhead.........
Ending
P40,000
13,000
26,000
P71,000
5,000
10,000
27,000
6,000
12,000
0
Questions:
17.The cost of raw materials used in production was:
18.The cost of goods manufactured was:
19.The cost of goods sold was:
Manufacturing Overhead
2,300
7,800
3,000
2,700
Ending
P30,000
17,000
47,000
Questions:
23.
The Cost of Goods Manufactured was:
24.The direct labor cost was:
25.The direct materials cost was:
26.The manufacturing overhead applied was:
27.The manufacturing overhead was:
ASSIGNMENT:
Alagan Company is a manufacturing firm that uses job-order
costing. At the beginning of the year, the company's inventory
balances were as follows:
Additional information:
Raw materials purchases......................................................
P66,000
Direct labor cost..................................................................
91,000
Manufacturing overhead cost incurred.....................................
59,000
Indirect materials included in manufacturing
overhead cost incurred......................................................
8,000
Manufacturing overhead cost applied to Work
in Process........................................................................
58,000
Questions:
20.The direct materials cost for July is:
21.The cost of goods manufactured for July is:
22.The adjusted cost of goods sold that appears on the
income statement for July is:
Use the following to answer questions 23-27:
The following partially completed T-accounts summarize
transactions for Faaberg Company during the year:
Bal.
Bal.
Bal.
Raw Materials
4,500
4,700
8,000
Finished Goods
1,700
19,900
21,700
Work in Process
3,600
21,700
Raw materials....................
Work in process..................
Finished goods...................
P10,000
81,000
20,000
f.
g.
h.
i.
j.
Required:
Prepare the appropriate journal entry for each of the
items above. You can assume that all transactions
with employees, customers, and suppliers were
conducted in cash.