Scribd Logo
Upload

Welcome to Scribd!

  • 14 views

    Untitled

    Uploaded by

    Jomar Pena
    This document contains journal entries for Charger Corp. that record transactions related to raw materials inventory, work in process, factory overhead, selling and administrative expenses, and cost of goods sold. The journal entries show increases and decreases to various inventory and expense accounts.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Untitled

    Uploaded by

    Jomar Pena
    14 views4 pages
    This document contains journal entries for Charger Corp. that record transactions related to raw materials inventory, work in process, factory overhead, selling and administrative expenses, and cost of goods sold. The journal entries show increases and decreases to various inventory and expense accounts.

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document contains journal entries for Charger Corp. that record transactions related to raw materials inventory, work in process, factory overhead, selling and administrative expenses, and cost of goods sold. The journal entries show increases and decreases to various inventory and expense accounts.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    14 views4 pages

    Untitled

    Uploaded by

    Jomar Pena
    This document contains journal entries for Charger Corp. that record transactions related to raw materials inventory, work in process, factory overhead, selling and administrative expenses, and cost of goods sold. The journal entries show increases and decreases to various inventory and expense accounts.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 4

    Charger Corp.

    A Raw Materials Inventory 924,000


    Accounts Payable 924,000

    B Work-in process (direct materials) 808,500


    Factory overhead control (indirect materials) 102,900
    Raw Materias Inventory 911,400

    C Work-in process (direct labor) 954,100


    Factory overhead control (indirect labor) 133,700
    Salaries payable 1,087,800

    D Factory overhead control 215,950


    Selling expense 342,125
    Administrative expense 26,075
    Accounts payable 584,150

    E Factory overhead control 42,630


    Selling expense 36,050
    Administrative expense 26,075
    Prepaid expense 104,755

    G Work-in process 540,720


    Factory overhead applied 540,720

    H Finished goods inventory 1,470,000


    Work-in process 1,470,000

    I Cost of Goods Sold 1,295,000


    Finished goods inventory 1,295,000
    Problem 7
    Case A Case B
    Raw Materials, beginning
    Add: net purchases
    Total materials available for use
    Less: Raw Materials, ending
    Materials used
    Less: Indirect materials used
    Direct Materials used 29,250 36,000
    Direct Labor 58,500 18,000
    Factory overhead 32,500 24,000
    Factory costs 120,250 78,000
    Add: Work-in process, beginning 16,250 12,000
    Total costs placed in process 136,500 90,000
    Less: Work-in process, ending 19,500 6,000
    Cost of goods manufactured 117,000 84,000
    Add: Finished goods beginning 6,500 15,000
    Total goods available for sale 123,500 99,000
    Less: Finished goods, ending 13,000 9,000
    Cost of goods sold 110,500 90,000

    Sales 195,000 126,000


    Less: Cost of goods sold 110,500 90,000
    Gross Profit 84,500 36,000
    Less: Operating expenses 58,500 21,000
    Net operating income 26,000 15,000
    Case C Case D

    22,500 22,500
    31,500 30,000
    36,000 67,500
    90,000 120,000
    13,500 33,750
    103,500 153,750
    18,000 22,500
    85,500 131,250
    18,000 26,250
    103,500 157,500
    18,000 26,250
    85,500 131,250

    162,000 300,000
    85,500 131,250
    76,500 168,750
    54,000 101,250
    22,500 67,500
    Direct Materials Work-in process
    152,250 5,459,968.00 347,200 11,513,400
    5,333,138.00 5,459,968.00
    25,420 2,449,000
    3,428,600.00
    171,368

    Finished Goods Cost of goods sold


    558,000 11718000 11,718,000
    11,513,400
    353,400

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy