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Acct 202 Exam 1 Note Card

Acct 202 Exam 1 Note Card

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Published by xerohour
Acct 202 Exam 1 Note Card
Acct 202 Exam 1 Note Card

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Categories:Types, School Work
Published by: xerohour on Feb 04, 2014
Copyright:Attribution Non-commercial


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Mat INV5000450007000WIP INV40000350001750043000||||||Manf OVHDactual applid3000 17500120005600_______end end20600 175003100 3100|||
|||Wages Payable 47000COGS27000310030100
1.Buy MATsMaterials Inv 45000Cash450002. Use MATSWIP Inv 40000Manf OVHD 3000Raw Mat Inv 430003. Pay wagesWIP INV 35000Manf OVHD 12000Wages Payable 470004.Pay OVHDManf OVHD 5600Cash56005. Applued/Budgeted ovhdWIP INV 17500Manf ovhd 175006. Goods CompletedDeb Fin Goods 27000credit WIP inv 270007. goods soldCOGS 27000Fin good 270008.Close MOHDebit COGS 3100credit MOH 3100
Transfered/completed (60000+240000) 300000 300000Ending WIPMaterial (82000 x .80)65600Conversion (82000 x .30)24600EQUIVALENT UNITS365600 324600
Materials | Conversion
||Fin Goods INV27000 27000
COGS= begin fin goods + COGM - end fin goodsCOGM= DM(raw+purchase-end raw) + DL + OVHD(IL, Deprec,tax,repair)+ manf cost (Begin WIP - End WIP)

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