User Account

All Pages

Prepare the journal entries to record the production costs

Assignment Help Financial Accounting
Reference no: EM132822856

Super Chemicals Ltd manufactures its signature dish-mashing liquid, Super Clean, in onelitre containers. Production takes place in two departments: Mixing and Packing.

The manufacturing costs for each department for December 2019 were as follows.

                                                  Mixing                Packing

Direct materials                 $ 74 000               $ 13 000

Direct labour                        36 000            8 000

Manufacturing overhead              20 000            12 000

During December 2019, the company produced 140 000 litres of Super Clean mixture which was packed into 140 000 containers.

Required:

Problem (a) What is the cost per container for Super Clean dish-washing liquid?

Problem (b) Prepare the journal entries to record the production costs for December 2019. Assume that the costs of the two production departments are charged to separate work in process inventory accounts.

Reference no: EM132822856

Questions Cloud

Calculate the total to be recorded in box of reese : Calculate the total to be recorded in Box 14 of Reese's T4 information slip. Reese works in Prince Edward Island and has 2019 payroll totals of regular earnings
Apple product life cycle : Determine the key components of supply chain management for Apple. Analyze three advantages in employing the just-in-time philosophy in Apple
What the entry or entries gideon makes to record recovery : What the entry or entries Gideon makes to record the recovery of the bad debt is? Gideon Company uses the direct write-off method
Describe the general purpose of the statement : Describe the general purpose of the statement of comprehensive income. In addition, explain the terms income and expenses as defined
Prepare the journal entries to record the production costs : Prepare the journal entries to record the production costs for December 2019. Assume that the costs of the two production departments are charged
Assignment-ra3001-human resources as a strategic partner : Describe at least one HR function that is the same in a traditional sense as it is in a contemporary sense. In other words, what is an HR aspect
What Angel hypothetical tax expense in its reconciliation : Angel Corporation reported pretax book income of $1,000,000. What Angel hypothetical tax expense in its reconciliation
Complex and culturally diverse society : We live in a very complex and culturally diverse society. Describe a conflict within an organization or team with which you are familiar.
What is the company depreciation expense for trivoli company : Trivoli's finance staff has concluded that the firm's total after-tax capital costs were $336 million. What is the company's depreciation expense?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd