Chapter 5

TRUE/FALSE
1. True
2. True
3. False
4. True
5. True

6. True
7. True
8. True
9. True
10. False

Problem 1 Stillwater Manufacturing

1)
Raw and In Process
Accounts Payable
2)

Finished goods
Raw and In Process
Raw materials purchased
RIP beg. (42,600-6,900)
RIP end (22,500-4,500)
Mat. content of units completed

3)

356,000
356,000
373,700
373,700
356,000
35,700
( 18,000)
373,700

Cost of goods sold

Finished goods
Mat. content of units completed
FG beg.(45,000-17,000)
FG. End (16,000-5,000)
Mat. content of units sold

4)

Cost of goods sold

Payroll
FO Applied

4)

Cost of goods sold

Raw and In Process
Finished goods
Conversion cost
End
Beg.
Increase (decrease)

390,700
390,700
373,700
28,000
( 11,000)
390,700
330,000
150,000
180,000
14,400
2,400
12,000
RIP
4,500
( 6,900)
( 2,400)

FG
5,000
(17,000)
( 12,000)

Problem 2 Magnolia Corporation

1)

Raw and In Process

Accounts payable

444,000
444,000

2)

Finished goods
Raw and In process

443,000
443,000

Purchases
Mat. In RIP beg (23,400-2,400)
Mat. In RIP end (25,600-3,600)
Mat. Content of FG

444,000
21,000
( 22,000)
443,000

3)

Cost of goods sold

Accrued payroll
FO Applied

399,000
210,000
189,000

3)

Cost of goods sold

Finished goods
Mat. Content of FG
Mat. In FG beg. (24,000-8,000)
Mat. In FG end (19,000-7,000)
Mat. Content of units sold

447,000
447,000

4)

Raw and In Process

Cost of goods sold
Conversion cost in RIP end
Conversion cost in RIP beg
Adjustment

5)

443,000
16,000
( 12,000)
447,000
1,200
1,200
3,600
( 2,400)
1,200

Cost of goods sold

Finished goods
Conversion cost in FG end
Conversion cost in FG beg
Adjustment

1,000
1,000
7,000
(8,000)
(1,000)

Problem 3 Smart Manufacturing Company

1.
Materials purchased
Materials in RIP beg (15,000 4,400)
Materials in RIP end (24,000 7,800)
Materials backflushed from RIP to FG

146,000
10,600
( 16,200)
140,400

2.

Materials backflushed from RIP to FG

Materials in FG beg (36,000-10,800)
Materials in FG end (18,000-6,500)
Materials backflushed from FG to CofGS

140,400
25,200
( 11,500)
154,100

3)

a) Raw and In process

Accounts payable

146,000
146,000

b) Cost of goods sold

Accrued payroll
FO Applied

180,000

c) Finished goods
Raw and In Process

140,400
140,400

d) Cost of goods sold

Finished goods

154,100
154,100

80,000
100,000

e) Raw and In Process

Cost of goods sold
Finished goods
End
Beginning
Increase (decrease(

3,400
900
4,300
RIP
7,800
(4,400)
3,400

FG
6,500
(10,800)
( 4,300)

Problem 4 Chiz Manufacturing Company

1)

Raw and In Process

Accounts payable

230,000
230,000

2)

Finished goods
Raw and In Process

245.200
245,200

Materials purchased
Materials in RIP beg. (40,000-12,000)
Materials in RIP end (28,500-15,700)
Materials backflushed from RIP
3)

Cost of goods sold

Finished goods

264,700
264,700

Materials backflushed from RIP

Materials in FG beg. (35,000-8,800)
Materials in FG end ( 19,800-13,100)
Materials backflushed from CofGS
4)

5)

230,000
28,000
( 12,800)
245,200

245,200
26,200
( 6,700)
264,700

Cost of goods sold

Accrued payroll
FO Applied

405,000
180,000
225,000

Finished goods
Cost of goods sold
Raw and In Process
End
Beginning
Increase (decrease)

4,300
600
3,700
RIP
12,000
(15,700)
(3,700)

FG
13,100
( 8,800)
4,300