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of the process in the Forming Department, which is the first of two
stages in its production process. Information concerning operations in
the Forming Department in October follows:
Units
Material Cost
Work in process on October 1
6,000
$3,000
Units started in October
50,000
$25,560
Units completed and transferred to next Department during October
44,000
What was the materials cost of work in process at on October 31?
4.Question :(TCO F) In a job-order costing system, the use of direct
materials that have been previously purchased is recorded as a debit to:
5.Question :(TCO F) During December at Ingrim Corporation, $74,000
of raw materials were requisitioned from the storeroom for use in
production.
These raw materials included both direct and indirect materials. The
indirect materials totaled $6,000. The journal entry to record the
requisition from the storeroom would include a:
6.Question :(TCO F) Valles Corporation had $22,000 of raw materials
on hand on February 1. During the month, the company purchased an
additional $75,000 of raw materials. The journal entry to record the
purchase of raw materials would include a:
1.Question :(TCO F) Whether a company uses process costing or job-
order costing depends on its industry. A number of companies in
different industries are listed below:
i. Brick manufacturer
ii. Contract printer that produces posters, books, and pamphlets to order
iii. Natural gas production company
iv. Dairy farm