Top Posters
Since Sunday
5
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
bernie2981 bernie2981
wrote...
Go to Answer
Posts: 3810
Rep: 26 0
8 years ago
Here is some basic data for Shannon Company:

Cost of materials purchases on account   $72,000
Cost of materials requisitioned (includes $2,000 of indirect)   53,000
Direct labor costs incurred   79,000
Manufacturing overhead costs incurred, including indirect materials   87,000
Cost of goods completed   256,750
Cost of goods sold   167,000
Beginning raw materials inventory    17,000
Beginning work in process inventory   33,000
Beginning finished goods inventory   35,000
Predetermined manufacturing overhead rate (as % of direct labor cost)   125%

The journal entry to record the cost of raw materials placed into production involves a
A) debit to Work-in-Process Inventory account for $53,000.
B) debit to Work-in-Process Inventory account for $51,000.
C) credit to Manufacturing Overhead account for $2,000.
D) debit to Overhead account for $51,000.
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
Author:
Read 896 times
3 Replies
Replies
Answer verified by a subject expert
nucleinuclei
wrote...
#1
Top Poster
Posts: 2158
Rep: 418 0
8 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
mjnats30,  cglade,  aidonkey1

Related Topics

wrote...
#2
3 years ago
thank you
wrote...
#3
3 years ago
Coo
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1348 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 421
  
 81
  
 269
Your Opinion
What percentage of nature vs. nurture dictates human intelligence?
Votes: 431
Previous poll results: Who will win the 2024 president election?