Accounting Chapter 21 Homework P2 June Work Process Inventory June Direct

subject Type Homework Help
subject Pages 9
subject Words 1261
subject Authors Carl S. Warren, James M. Reeve, Jonathan Duchac

Unlock document.

This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
page-pf1
An asterisk (*) will appear to the right of an incorrect entry.
Rubber Steel Belts Total
Pounds required for production:
Passenger tires 1,470,000 210,000
Truck tires 1,482,000 152,000
Desired ending inventory 40,000 10,000
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
ON
SAFETY GRIP COMPANY
Direct Materials Purchases Budget
For the Year Ending December 31, 2016
Exercise 21(6)-11
Name:
Solution
Section:
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
a.
Dockers® 501 Jeans®
Expected units to be sold
Plus May 31 desired inventory
Total units
Less May 1 estimated inventory
Total units to be produced
b.
Inseam Outerseam Pockets Zipper Total
Minutes:
Dockers®
501 Jeans®
Total minutes
Total direct labor hours ( 60 minutes)
x Direct labor rate
Total direct labor cost
0%
Score:
Key Code:
Cells with non-gray backgrounds are protected and cannot be edited.
[Key code here]
Answers are entered in the cells with gray backgrounds.
Instructions
Exercise 21(6)-14
Name:
Section:
(assumed data)
LEVI STRAUSS & CO.
Production Budget
May 2016
(assumed data)
LEVI STRAUSS & CO.
Direct Labor Cost Budget
May 2016
page-pf3
An asterisk (*) will appear to the right of an incorrect entry.
a.
Dockers® 501 Jeans®
Expected units to be sold 23,600 53,100
Plus May 31 desired inventory 420 1,860
b.
Inseam Outerseam Pockets Zipper Total
Minutes:
Dockers® 42,030 46,700 14,010 28,020
501 Jeans® 47,970 74,620 47,970 31,980
Cells with non-gray backgrounds are protected and cannot be edited.
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
ON
Exercise 21(6)-14
Name:
Solution
Section:
Direct Labor Cost Budget
(assumed data)
May 2016
LEVI STRAUSS & CO.
Production Budget
May 2016
(assumed data)
LEVI STRAUSS & CO.
An asterisk (*) will appear to the right of an incorrect entry.
Variable factory overhead costs:
Total variable factory overhead costs
Fixed factory overhead costs:
Total fixed factory overhead costs
Total factory overhead costs
For the Month Ending August 31, 2016
Key Code:
Cells with non-gray backgrounds are protected and cannot be edited.
[Key code here]
Answers are entered in the cells with gray backgrounds.
Instructions
Factory Overhead Cost Budget
0%
Exercise 21(6)-15
Name:
Section:
SWEET TOOTH CANDY COMPANY
Score:
page-pf5
An asterisk (*) will appear to the right of an incorrect entry.
Variable factory overhead costs:
14,000$
48,000
135,000
Manufacturing supplies
Power and light
Production supervisor wages
Instructions
Answers are entered in the cells with gray backgrounds.
ON
SWEET TOOTH CANDY COMPANY
Factory Overhead Cost Budget
For the Month Ending August 31, 2016
Exercise 21(6)-15
Name:
Solution
Section:
Cells with non-gray backgrounds are protected and cannot be edited.
Score:
An asterisk (*) will appear to the right of an incorrect entry.
Finished goods inventory, P1 and P2, June 1
Work in process inventory, June 1
Direct materials:
Direct materials (oil) inventory, June 1
Direct materials (oil) purchases
Cost of direct materials available for use
Direct materials (oil) inventory, June 30
Cost of direct materials placed in production
Direct labor
Factory overhead
Total manufacturing costs
Total work in process during the period
Work in process inventory, June 30
Cost of goods manufactured
Cost of finished goods available for sale
Finished goods inventory, P1 and P2, June 30
Cost of goods sold
0%
Exercise 21(6)-16
Name:
Section:
DELAWARE CHEMICAL COMPANY
Cost of Goods Sold Budget
For the Month Ending June 30, 2017
Score:
Key Code:
Cells with non-gray backgrounds are protected and cannot be edited.
[Key code here]
Answers are entered in the cells with gray backgrounds.
Instructions
page-pf7
An asterisk (*) will appear to the right of an incorrect entry.
Finished goods inventory, P1 and P2, June 1 16,900$
Work in process inventory, June 1 12,900$
Direct materials:
Direct materials (oil) inventory, June 1 15,200$
Direct materials (oil) purchases 3,150,000
Cost of direct materials available for use 3,165,200$
Total manufacturing costs 3,789,100
Total work in process during the period 3,802,000$
Work in process inventory, June 30 13,500
Instructions
Answers are entered in the cells with gray backgrounds.
ON
DELAWARE CHEMICAL COMPANY
Cost of Goods Sold Budget
For the Month Ending June 30, 2017
Exercise 21(6)-16
Name:
Solution
Section:
Cells with non-gray backgrounds are protected and cannot be edited.
Score:
An asterisk (*) will appear to the right of an incorrect entry.
May June July
Projected total monthly sales
134,000$ 155,000$ 169,000$
May sales on account:
Collected in May
Collected in June
Collected in July
June sales on account:
Collected in June
Collected in July
July sales on account:
Collected in July
Total cash collected
PET PLACE SUPPLIES INC.
Schedule of Collections from Sales
For the Three Months Ending July 31, 2016
Key Code:
Cells with non-gray backgrounds are protected and cannot be edited.
[Key code here]
Answers are entered in the cells with gray backgrounds.
Instructions
Credit
Sales
Percent of
Credit Sales
0%
Exercise 21(6)-18
Name:
Section:
Score:
page-pf9
An asterisk (*) will appear to the right of an incorrect entry.
May June July
Projected total monthly sales
134,000$ 155,000$ 169,000$
June sales on account:
Collected in June 155,000$ 65% 100,750
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
ON
PET PLACE SUPPLIES INC.
Schedule of Collections from Sales
For the Three Months Ending July 31, 2016
Exercise 21(6)-18
Name:
Solution
Section:
Credit
Percent of
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
January February March
Budgeted expenses
117,000$ 136,400$ 150,200$
Payment of prior month's expense:
Pay in January
Pay in February
Pay in March
Payment of current month's expense:
Pay in January
Pay in February
Pay in March
Total cash paid
Schedule of Cash Payments for Operations
EASTGATE PHYSICAL THERAPY INC.
Percent
to Pay
For the Three Months Ending March 31, 2017
Score:
Key Code:
Cells with non-gray backgrounds are protected and cannot be edited.
[Key code here]
Answers are entered in the cells with gray backgrounds.
Instructions
Unpaid
Expenses
0%
Exercise 21(6)-21
Name:
Section:
page-pfb
An asterisk (*) will appear to the right of an incorrect entry.
January February March
Budgeted expenses
117,000$ 136,400$ 150,200$
Payment of current month's expense:
Pay in January 88,100$ 70% 61,670$
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
ON
EASTGATE PHYSICAL THERAPY INC.
Schedule of Cash Payments for Operations
For the Three Months Ending March 31, 2017
Exercise 21(6)-21
Name:
Solution
Section:
Percent
Unpaid
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
Enter a zero in cells you would otherwise leave blank.
2016 2017 2018 2019
Building
Equipment
Information systems
Total
0%
Exercise 21(6)-22
Name:
Section:
OMICRON INC.
Capital Expenditures Budget
For the Four Years Ending December 31, 2016-2019
Score:
Key Code:
Cells with non-gray backgrounds are protected and cannot be edited.
[Key code here]
Answers are entered in the cells with gray backgrounds.
Instructions
page-pfd
An asterisk (*) will appear to the right of an incorrect entry.
Enter a zero in cells you would otherwise leave blank.
2016 2017 2018 2019
Building
6,000,000$ 4,000,000$ -$ 3,500,000$
Equipment - 1,500,000 200,000 1,000,000
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
ON
OMICRON INC.
Capital Expenditures Budget
For the Four Years Ending December 31, 2016-2019
Exercise 21(6)-22
Name:
Solution
Section:
Cells with non-gray backgrounds are protected and cannot be edited.

Trusted by Thousands of
Students

Here are what students say about us.

Copyright ©2022 All rights reserved. | CoursePaper is not sponsored or endorsed by any college or university.