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In: Accounting
Alpha Company had the following information for FY 2017: Work in Process - 1/1/17 100,000 units...
Alpha Company had the following information for FY 2017: Work in Process - 1/1/17 100,000 units Units Started into Production 575,000 units Work in Process - 12/31/17 75,000 units Direct Material put into Production $575,000 Direct Labor put into Production $400,000 Factory Overhead put into Production $443,750 The beginning work in process was 100% complete as to direct materials and 75% complete as to conversion costs. The ending work in process was 100% complete as to direct materials and 50% complete as to conversion costs. The beginning work in process consisted of: Direct Material $943,750 Conversion Costs $303,750 Alpha Company uses the weighted-average method. Use this information to prepare December 31, 2017, summary General Journal entries, without explanations, to record the direct material, direct labor and factory overhead into the work in process account for FY 2017. Prepare the December 31, 2017 General Journal entry to transfer completed units to the finished goods inventory. (Round any final dollar answers to the nearest whole dollar.)
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Alpha Company had the following information for FY 2017: Work in Process - 1/1/17 100,000 units...
Alpha Company had the following information for
FY 2017:
Work in Process - 1/1/17
100,000 units
Units Started into Production
575,000 units
Work in Process - 12/31/17
75,000 units
Direct Material put into Production
$575,000
Conversions Costs put into Production
$843,750
The beginning work in
process was 100% complete as to direct materials and 75% complete
as to conversion costs.
The ending work in
process was 100% complete as to direct materials and 50% complete
as to conversion costs.
The...
Alpha Company had the following information for FY 2017: Work in Process - 1/1/17 100,000 units...
Alpha Company had the following information for FY 2017: Work in
Process - 1/1/17 100,000 units Units Started into Production
575,000 units Work in Process - 12/31/17 75,000 units Direct
Material put into Production $575,000 Direct labor put into
production $240,000 Factory overhead put into production $603,750
The beginning work in process was 100% complete as to direct
materials and 75% complete as to conversion costs. The ending work
in process was 100% complete as to direct materials and 50%...
Alpha Company had the following information for FY 2017: Work in Process - 1/1/17 100,000 units...
Alpha Company had the following information for FY 2017:
Work in Process - 1/1/17
100,000 units
Units Started into Production
575,000 units
Work in Process - 12/31/17
75,000 units
Direct Material put into Production
$690,000
Conversions Costs put into Production
$1,030,625
The beginning work in process was 100% complete as to direct
materials and 50% complete as to conversion costs.
The ending work in process was 100% complete as to direct
materials and 75% complete as to conversion costs.
The...
Alpha Company Had The Following Information For FY 2017: Work In Process - 1/1/17 100,000 Units...
Alpha Company Had The Following Information For FY 2017: Work In
Process - 1/1/17 100,000 Units ... Question: Alpha Company had the
following information for FY 2017: Work in Process - 1/1/17 100,000
u... Alpha Company had the following information for FY 2017: Work
in Process - 1/1/17 100,000 units Units Started into Production
575,000 units Work in Process - 12/31/17 75,000 units Direct
Material put into Production $575,000 Direct Labor put into
Production $843,750 The beginning work in process...
Alpha Company Had The Following Information For FY 2017: Work In Process Alpha Company had the...
Alpha Company Had The Following Information For FY 2017: Work In
Process
Alpha Company had the following information for FY 2017:
Work in Process - 1/1/17
100,000 units
Units Started into Production
575,000 units
Work in Process - 12/31/17
75,000 units
Direct Material put into Production
$575,000
Direct Labor put into Production
$843,750
The beginning work in process was 100% complete as to direct
materials and 75% complete as to conversion costs.
The ending work in process was 100% complete...
Brenda enterprise had the following information for FY 2018: Work in process -1/1/18 100,000 units Units...
Brenda enterprise had the following information for FY 2018:
Work in process -1/1/18 100,000 units
Units started into production 575,000 units
Work in process -12/31/18 75,000 units
Direct material put into production $575,000
Conversions costs put into production $843,750
The beginning work in process was 100% complete as to direct
materials and 75% complete as to conversion costs
The beginning work in process consisted of:
Direct material $943,750
Conversion cost $303,750
Brenda Enterprise uses the weighted-average method.
1. the equivalent...
Alpha Company, on March 1, 2017 has a beginning Work in Process inventory of zero. All...
Alpha Company, on March 1, 2017 has a beginning Work in
Process inventory of zero. All materials are added into production
at the beginning of its production. There is only one production
WIP inventory. On March 1, Alpha started into production 10,000
units. At the end of the month there were 5,000 units completed and
transferred into the Finished Goods Inventory. The ending WIP was
40% complete with respect to conversion. For the month of March the
following costs were...
Alpha Company, on March 1, 2017 has a beginning Work in Process inventory of zero. All...
Alpha Company, on March 1, 2017 has a beginning Work in
Process inventory of zero. All materials are added into production
at the beginning of its production. There is only one production
WIP inventory. On March 1, Alpha started into production 10,000
units. At the end of the month there were 5,000 units completed and
transferred into the Finished Goods Inventory. The ending WIP was
40% complete with respect to conversion. For the month of March the
following costs were...
Alpha Company, on March 1, 2017 has a beginning Work in Process inventory of zero. All...
Alpha Company, on March 1, 2017 has a beginning Work in Process
inventory of zero. All materials are added into production at the
beginning of its production. There is only one production WIP
inventory. On March 1, Alpha started into production 10,000 units.
At the end of the month there were 5,000 units completed and
transferred into the Finished Goods Inventory. The ending WIP was
60% complete with respect to conversion. For the month of March the
following costs were...
In its published SEC 10-K Balance Sheet for the FY 2015, Alpha Company, had the following...
In its published SEC 10-K Balance Sheet for the FY 2015, Alpha
Company, had the following balances (all balances are normal):
Accounts
Amount
Preferred Stock, ($100 par value, 5%
noncumulative, 50,000 shares authorized, 8,000 shares issued and
outstanding)
$800,000
Common Stock ($10 par value, 200,000
shares authorized, 120,000 shares issued and outstanding)
$1,200,000
Paid-in Capital in Excess of par, Common
150,000
Retained Earnings
700,000
The following are related events that occurred during 2016:
January 2, Alpha declared a 10% stock...
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