Académique Documents
Professionnel Documents
Culture Documents
1. False
6. True
2. True
7. False
3. True
8. False
4. False
9. True
5. True
10.False
11. False
12. False
13. False
14. False
15. False
Matching
1.
a
2.
h
3.
p
4.
d
5.
k
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.True
17. False
18. False
19. True
20. True
21. True
22. False
23. False
24. False
25. True
16.
17.
18
19.
20.
21.
22.
23.
24.
25.
b
g
k, l, m
i
n
d
d
c
b
c
a
c
b
b
b
c
b
a
c
b
3.
4.
5.
Work in process
Factory overhead control
Materials
Materials
Work in process
FO Control
Accounts payable
Materials
28,000
28,000
22,000
3.000
25,000
800
500
300
1,000
1,000
Payroll
39,000
Withholding taxes payable
3,025
SSS Premiums payable
1,600
Phil Health contributions payable
375
Pag-ibig funds contributions payable
1,200
Accrued payroll
32,800
Page 2
Accrued payroll
Cash
32,800
Work in process
Factory overhead control
Payroll
33,400
5,600
3,575
FO Control
Accum Depr.
Prepaid ins.
Accounts payable
15,000
9.
Work in process
FO Applied
26,720
26,720
10.
Finished goods
WP
Job 401
Job 402
72,220
72,220
6.
7.
11.
12.
32,800
39,000
2,000
375
1,200
3,000
950
11,050
31,720
40,500
Accounts receivable
Sales (31,720 x 140%)
44,408
44,408
31,720
31,720
Cash
35,000
35,000
Accounts receivable
Direct materials
3,000
5,500
8,500
Direct materials
5,600
7,000
12,600
Job 401
Direct labor
2,500
10,400
12,900
Factory overhead
2,000
8,320
10,320
Job 402
Direct labor
3,000
12,500
15,500
Factory overhead
2,400
10,000
12,400
Page 3
Direct materials
9,500
( 500)
3.
Job 403
Direct labor
10,500
Factory overhead
8,400
22,000
28,000
1,000
24,800
2,700
27,000
49,000
27,500
21,500
33,400
26.720
81,620
18,500
100.120
27,900
72,220
25,000
97,220
65,500
31,720
155
31,875
229,040
229,040
220,000
31,000
7,000
440
6,600
174,960
Accrued payroll
Cash
Page 4otal
174,960
174,960
c. Work in process
Factory overhead control
Marketing & Adm. Exp. Control
Payroll
156,000
24,000
40,000
220,000
Phil Health
(0,.25%)
360
80
440
14,760
3,280
11,000
440
6,600
Pag-ibig
( 3% )
5,400
1,200
6,600
d. Work in process
Factory overhead control
Materials
Job 101
(x) 4,000 x 5.00
(x) 16,000 x 5.20
Job 103
( x) 2,000 x 5.20
(Y) 5,000 x 3.75
20,000
83,200
103,200
Total
14,760
3,280
18.040
216,350
15,040
231,390
Job 102
(Y) 8,000 x 3.00
(Y) 16,000 x 3.75
24,000
60,000
84,000
10,400
18,750
29,150
e. Work in process
FO Applied
Job 101 = 10,000 x 2.25
102 = 16,000 x 2.25
103 = 12,000 x 2.25
85,500
85,500
22,500
36,000
27,000
f. Accounts receivable
Sales
510,000
510,000
380,700
380,700
Page 5
g. Cash
Sales discount
Accounts receivable
494,000
26,000
520,000
Accounts payable
Cash
j.
30,000
25,600
51,600
4,000
170,000
170,000
85,500
6,100
79,400
DIRECT MATERIALS
5,000
103,200
108,200
JOB 101
DIRECT LABOR
4,000
44,000
44,000
FACTORY OVERHEAD
2,000
22,500
24,500
DIRECT MATERIALS
1,200
84,000
85,200
JOB 102
DIRECT LABOR
2,000
80,000
82,000
FACTORY OVERHEAD
800
36,000
36,800
DIRECT MATERIALS
21,.950
JOB 103
DIRECT LABOR
36,000
FACTORY OVERHEAD
27,000
STOCKCARDS
MATERIAL X
ISSUED
RECEIVED
20,000 @ 5.20
104,000
4,000 @ 5.00
18,000 @ 5.20
20,000
93,000
BALANCE
4,000 @ 5.00
20,000
4,000 @ 5.00
20,000
20,000 @ 5/20
104,000
2,000 @ 5.20
10,400
MATERIAL Y
ISSUED
RECEIVED
24,000 @ 3.75
BALANCE
8,000 @ 3.00
24,000
8,000 @ 3.00
24,000
24,000 @ 3.75
90,000
90,000
8,000 @ 3.00
21,000 @ 3.75
24,000
78,750
3,000 @ 3.75
4,300
2,400
3,000
9,700
2. Direct material
Direct labor
Prime cost
4,300
2,400
6,700
3. Direct material
Factory overhead applied
Conversion cost
2,400
3,000
5,400
Problem 4
1. Materials Dept. 1
Dept. 2
2.400
1,300
3,700
4,100
1,760
5,860
5. Gross profit
Less: M & A
Net income
13,120
2,970
10,150
4. Contract price
Less: Cost to manufacture
DM.
3,700
DL
5,860
FO
2.320
Gross profit
Work in process
Payroll
50,000
50,000
150,000
150,000
11,250
2,000
320
2,320
P 25,000
11,880
13,120
Page 7
3.
Work in process
FO Applied
90.000
90,000
4.
Finished goods
Work in process
290,000
290,000
5.
Accounts receivable
Sales
427,917
427,917
290,000
290,000
Selling price
Direct materials
Direct labor
Factory OH
Total cost
Gross profit
Job 110
126,667
15,000
50,000
30,000
95,000
31,667
Job 220
170,000
10,000
50,000
30,000
90,000
80,000
Job 330
131,250
25,000
50,000
30,000
105,000
26,250
Total
427,917
50,000
150,000
90,000
290,000
137,917
FACTORY OH CONROL____
330,000
1)
Entries
1.
Materials
Accounts payable
145000
2.
125,000
Work in process
145,000
Materials
125,000
Page 8
3.
Work in process
Payroll
400,000
400,000
4.
Work in process
FO Applied
320,000
320,000
5.
Finished goods
Work in process
820,000
820,000
6.
850,000
850,000
FO Control
Various accounts
Problem 7 - Ellen Joyce Company
1.
Work in process
Materials
330,000
330,000
2.
Work in process
Payroll
156,000
156,000
3.
Work in process
FO Applied
118,500
118,500
4.
Finished goods
Work in process
Job 201
Job 202
Job 203
Total
Accounts receivable
Sales
343,000
343,000
7.
5.
98,500
98,500
190,000
94,000
59,000
343,000
350,000
350.000
284,000
284,000
98,500
156,000
118,500
373,000
30,000
343,000
59,000
284,000
205,000
90,000
( 95,000)
200,000
2.
675,000
( 175,000)
( 205,000)
295,000
3.
775,000
(110,000)
665,000
4.
Sales
Cost of goods sold
Gross profit
Problem 9 - Pacific Production Company
1.
Materials - April 1
Purchases
Materials April 30
Direct materials used
Indirect materials used
900,000
(665,000)
235,000
2.
6,000
44,000
( 32,000)
18,000
3.
32,000
125%40,000
4.
Direct materials
Direct labor
Factory overhead
Total manufacturing costs
Work in process, beg.
Work in process, end
Cost of goods manufactured
78,000
32,000
40,000
150,000
82,000
( 94,000)
138,000
5.
138,000
296,000
64,000
84,000
( 60,000)
( 78,000)
10,000
(304,000)
130,000
2)
Work in process
FOC
Materials
11,480
40
Payroll
Accrued payroll
5,445
Work in process
FOC
Payroll
4,645
800
FOC
2,875
3)
4)
15,000
15,000
11,520
5,445
5,445
Work in process
FO Applied
6)
Finished goods
Work in process
Direct materials
Direct labor
Factory overhead
Total
7)
Cash
1,500
160
490
225
300
5,261.25
5,261.25
Job 101
10,500
3,175
3,618.75
17,293.75
21,386.25
21,385.25
Job 102
Total
980
11,480
1,470
4,645
1,642.50
5,261.25
4,092.50
21,386.25
25,000
Sales
Cost of Goods Sold
Finished goods
25,000
17,293.75
17,293.75
Accounts receivable
Sales
4,000
4,092.50
4,092.50
4,000
Page 11
Problem 11 Candy Corporation
1)
Job 101
Job 102
WP, July 1
2)
Job 101
Job 102
Job 103
Total
3)
P 175,000
120,000
P 295,000
80,000 x 125%
95,000 x 125%
115,000 x 125%
= P 100,000
=
118,750
=
143,750
362,500
Job 101
175,000
Job 102
120,000
Total
295,000
55,000
80,000
100,000
410,000`
80,000
95,000
118,750
413,750
135,000
175,000
218,750
823,750
Job 101
Add: Underapplied factory overhead
Actual FO
375,000
Less: Applied FO
362,500
Cost of goods sold actual
410,000
5)
413,750
6)
92,000
115,000
143,750
350,750
WP, beg.
Cost added
Materials
Labor
Overhead
Total
4)
12,500
422,500`
15,000
33,000
( 19,000)
( 1,000)
28,000
120,000
30,000
( 40,000)
3)
110,000
190,000
(110,000)
80,000
150,000
78,000
( 60,000)
168,000
3)
200,000
( 25,000)
(25,200)
149,800
200
150,000
Units sold
Finished goods, end
Finished goods, beg
Units completed/manufactured
2)
12,300
300
( 100)
12,500
1,847,700
2,125,800
1,026,500
5,000,000
12,500
400/unit
Page 13
3)
From Finished goods, beg. (100 units x P 430 )
From units completed during the period ( 12,200 x P 400)
Cost of goods sold
Or
Finished goods, beg.
Cost of goods manufactured
Finished goods, end ( 300 x P400)
Cost of goods sold
43,000
4,880,000
4,923,000
43,000
5,000,000
( 120,000)
4,923,000