Principles of Cost Accounting
17th Edition
ISBN: 9781305087408
Author: Edward J. Vanderbeck, Maria R. Mitchell
Publisher: Cengage Learning
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Question
Chapter 2, Problem 21Q
To determine
Identify the source for the given entries to the subsidiary ledger account.
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Students have asked these similar questions
Give the journal entry for raw materials product on account. Explain how this transaction affects the accounting equation
The purchase of manufacturing supplies is normally recorded as a debit to
Group of answer choices
raw materials inventory
administrative expenses
work in process
manufacturing overhead
Which of the following accounts would be debited to record the assignment of indirect materials?
Group of answer choices
Work-in-process inventory
Manufacturing overhead
Supplies expense
Costs of goods sold
Chapter 2 Solutions
Principles of Cost Accounting
Ch. 2 - What are the two major objectives of materials...Ch. 2 - Prob. 2QCh. 2 - What factors should management consider when...Ch. 2 - Prob. 4QCh. 2 - What kind of information and data are needed to...Ch. 2 - How would you define the term economic order...Ch. 2 - What kind of information and data are needed to...Ch. 2 - What factors should be considered when determining...Ch. 2 - Prob. 9QCh. 2 - Prob. 10Q
Ch. 2 - Prob. 11QCh. 2 - Proper authorization is required before orders for...Ch. 2 - Prob. 13QCh. 2 - Prob. 14QCh. 2 - Prob. 15QCh. 2 - Prob. 16QCh. 2 - Prob. 17QCh. 2 - Normally, a manufacturer maintains an accounting...Ch. 2 - Prob. 19QCh. 2 - Why do companies adopt the LIFO method of...Ch. 2 - Prob. 21QCh. 2 - Prob. 22QCh. 2 - Prob. 23QCh. 2 - Prob. 24QCh. 2 - Prob. 25QCh. 2 - Prob. 26QCh. 2 - Prob. 27QCh. 2 - Prob. 28QCh. 2 - A manufacturing process may produce a considerable...Ch. 2 - After a product is inspected, some units may be...Ch. 2 - Order Point Pershing, Inc. expects daily usage of...Ch. 2 - Economic order quantity; order cost; carrying cost...Ch. 2 - Economic order quantity; order cost; carrying cost...Ch. 2 - Journalizing materials requisitions Penrose...Ch. 2 - Recording materials transactions Prepare a journal...Ch. 2 - PurrChems raw materials records contained the...Ch. 2 - Using first-in, first-out perpetual inventory...Ch. 2 - LIFO costing Using last-in, first-out perpetual...Ch. 2 - Using the weighted average method of perpetual...Ch. 2 - Prob. 10ECh. 2 - Renfro, Inc. was franchised on January 1, 2016. At...Ch. 2 - Recording materials transactions Craig Products...Ch. 2 - Recording materials transactions Broadwell...Ch. 2 - JIT and cost control Matsui Industries produces...Ch. 2 - Kenkel, Ltd. uses backflush costing to account for...Ch. 2 - For E2-15, prepare any journal entries that would...Ch. 2 - Davis Co. uses backflush costing to account for...Ch. 2 - For E2-17, prepare any journal entries that would...Ch. 2 - A machine shop manufactures a stainless steel part...Ch. 2 - Spoiled work Roger Company manufactures tennis...Ch. 2 - Defective work Herbert Electronics manufactures an...Ch. 2 - Perry Co. predicts it will use 25,000 units of...Ch. 2 - Prob. 2PCh. 2 - Economic order quantity; tabular computation Lopez...Ch. 2 - In P2-3, assume that the company desires a safety...Ch. 2 - Inventory costing methods The purchases and issues...Ch. 2 - Inventory costing methods The following...Ch. 2 - Terrills Transmissions uses a job order cost...Ch. 2 - Prob. 8PCh. 2 - Tuscany Products, Inc. uses a job order cost...Ch. 2 - Prob. 10PCh. 2 - JIT and cost control Langray, Ltd. produces 50,000...Ch. 2 - Backflush costing Russell Corp. uses backflush...Ch. 2 - Webster Company uses backflush costing to account...Ch. 2 - An examination of Buckhorn Fabricators records...Ch. 2 - One of the tennis rackets that Ace Sporting Goods...Ch. 2 - Lloyd Industries manufactures electrical equipment...Ch. 2 - Review Problem for Chapters 1 and 2 UltraLift...Ch. 2 - Financial and Nonfinancial Aspects of Changing to...Ch. 2 - Prob. 2MC
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Similar questions
- Normally, a manufacturer maintains an accounting system that includes a materials ledger and a general ledger account for Materials. What is the relationship between the materials ledger and the materials account in the general ledger?arrow_forwardWhich document lists the inventory that will be removed from the raw materials inventory? A. job cost sheet B. purchase order C. materials requisition form D. receiving documentarrow_forwardHow do the job cost sheets act as a subsidiary ledger for the work in process inventory if journal entries are not made to the job cost sheets?arrow_forward
- Which of the following would be included in the journal entry to record the requisition of indirect materials? a. Debit to Manufacturing Overhead b. Debit to Materials inventory c. Debit to Finished Goods Inventory d. Debit to Work in process inventoryarrow_forwardIdentify the journal entry for indirect material return to supplier. a. Dr.Material inventory, Cr.Work in process inventory b. Dr.Accounts payable, Cr.Material inventory c. Dr.Production overheads, Cr.Work in process inventory d. Dr.Material inventory, Cr.Accounts payablearrow_forwardPlease help with this question that is attached Required: a. Prepare journal entries to record these transactions. b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold.arrow_forward
- In a job order costing system, what records serve as a subsidiary ledger for Work in Process Inventory? For Finished Goods Inventory?arrow_forwardThe entry to record the cost of raw materials placed in production is: a. Dr Work-In-Process; Cr Raw Materials Inventory b. Dr Raw Materials Inventory; Cr Accounts Payable or Cash c. Dr Manufacturing Overhead; Cr Raw Material Inventory d. Dr Work-In-Process; Cr Accounts Payable or Casharrow_forwardIdentify the journal entry for indirect material returns to stores. a. Dr.Material inventory, Cr.Work in process inventory b. Dr.Material inventory, Cr.Factory overheads c. Dr.Work in process inventory, Cr.Material inventory d. Dr.Factory overheads, Cr.Material inventoryarrow_forward
- Identify the journal entry for normal wastage. a. Dr.Material inventory, Cr.Production overheads b. Dr.Costing profit and loss account, Cr.Work in process inventory c. Dr.Production overheads, Cr.Work in process inventory d. Dr.Material inventory, Cr.Work in process inventoryarrow_forwardWhen direct materials are used in production, which of the following accounts is debitedarrow_forward
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