Maurice Tutor

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Category > Accounting Posted 18 Aug 2017 My Price 9.00

Weatherguard manufactures

48.    LO.5 & LO.7 (CGM; journal entries) Weatherguard manufactures mailboxes. The following data represent transactions and balances for December 2010, the company’s first month of operations.

 

Purchased direct material on account

$248,000

Issued direct material to production

186,000

Accrued direct labor payroll

134,000

Paid factory rent

3,600

Accrued factory utilities

16,200

Recorded factory equipment depreciation

15,800

Paid supervisor salary

6,400

Ending Work in Process Inventory (6,000 units)

35,000

Ending Finished Goods Inventory (3,000 units) Sales on account ($24 per unit)

? 648,000

 

a.     How many units were sold in December? How many units were completed in December?

b.    What was the total cost of goods manufactured in December?

c.     What was the per-unit cost of goods manufactured in December?

d.    Prepare the journal entries to record the flow of costs for December. Weatherguard uses a perpetual inventory system and a single Manufacturing Overhead Control account. Assume that actual overhead is included in WIP inventory.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Aug 2017 11:08 PM My Price 9.00

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