Professional Documents
Culture Documents
TRUE/FALSE
True
True
False
True
True
6.
7.
8.
9.
10.
True
True
True
True
False
3)
Finished goods
13,500
Raw and In Process
13,500
Raw and In Process
1,000
Cost of goods sold
1,000
4)
Problem 2
Magnolia Corporation
Finished goods
443,00
443
,000
Purchases
Mat. In RIP beg (23,400-2,400)
Mat. In RIP end (25,600-3,600)
Mat. Content of FG
P380,000
444,000
21,000
( 22,000)
443,000
4)
443,000
16,000
( 12,000)
447,000
3,600
( 2,400)
1,20
0
5)
7,000
(8,000)
(1,000)
Problem 3
1.
9,800
1,700)
( 10,700)
Materials backflushed from RIP to FG
34
5,100
2.
,100
345
4,000)
8,000
(
00
3)
346,4
Accounts payable
346,000
b) Cost of goods sold
250,000
Accrued payroll
100,000
FO Applied
150,000
c) Finished goods
345,100
Raw and In Process
345,100
d) Cost of goods sold
346,400
Finished goods
346,400
Page 3
e)
1,700
3,100
Beginning
(1,200)
(4,000)
Increase (decrease(
500
( 900)
Problem 4
Barbie Mfg. Company
Additional information Direct labor 80,000; factory overhead
1)
Raw and In Process
100,000
Accounts payable
100,000
2)
60,000
Finished goods
99,850
Raw and In Process
99,850
Materials purchased
100,00
0
Materials in RIP beg. (5,000-500)
Materials in RIP end (5,250-650)
Materials backflushed from RIP
3)
4,500
4,650)
99,850
Materials
Materials
Materials
Materials
4)
5)
99,850
8,000
( 5,000)
102,850
RIP
FG
End
650
2,500
Beginning
(500)
(3,250)
Increase (decrease)
150
750
Page 3
Problem 5
1)
Materials purchased
246.000
Materials in RIP beg. ( 14,500-7,200)
7,300
Materials in RIP end ( 22,400-15,700)
(
6,700)
Materials backflushed from RIP to FG
24
6,600
2)
,600
246
Materials purchased
246,000
RIP beg.
14,500
FG beg.
16,000
Direct labor
98,000
Factory overhead
125,000
247,1
RIP end
( 22,400)
FG end
( 19,800)
Cost of goods sold
457,300
4)
a)
246,000
b)
Finished goods
246,600
Raw and in process
246,600
c)
d)
e)
RIP
FG
END
,700
15
13,100
BEGINNING
( 7,200)
( 8,800)
Increase (Decrease)
4,300
8,500