Sierra Company manufactures woven blankets and accounts for product costs using process costing. The company uses a single processing department.
The following information is available regarding its June inventories :

Beginning Inventory Ending Inventory
Raw materials inventory $61,000 $70,500
Work in process inventory 419,500 531,000
Finished goods inventory 614,000 430,001

The following additional information describes the company's production activities for June :

Raw materials purchases (on credit) 280,000
Factory payroll cost (paid in cash) 1,541,000
Other overhead cost (Other Accounts credited) 67,500
Materials used
Direct 180,500
Indirect 90,000
Labor used
Direct 790,000
Indirect 751,000
Overhead rate as a percent of direct labor 115%
Sales (on credit) 5,500,000

The predetermined overhead rate was computed at the beginning of the year as 115% of direct labor cost Prepare journal entries dated June 30 to record:
(a) raw materials purchases, (b) direct materials usage, (c) indirect materials usage, (d) direct labor usage, (e) indirect labor usage, (f) other overhead costs, (g) overhead applied, and (h) payment of total wages costs.

(a) raw materials purchases

Raw Materials $280000 (debit)

Accounts Payable $280000 (credit)

(b) direct materials usage

Cost of Goods Manufactured $180500 (debit)

Raw Materials -Direct Materials $180500 (credit)

(c) indirect materials usage

Cost of Goods Manufactured $90000 (debit)

Raw Materials- Indirect Materials $90000 (credit)

(d) direct labor usage

Cost of Goods Manufactured $790000 (debit)

Salaries and Wages Accrued - Direct Labor $790000 (credit)

(e) indirect labor usage

Cost of Goods Manufactured $751000 (debit)

Salaries and Wages Accrued - Indirect Labor $751000 (credit)

(f) other overhead costs

Cost of Goods Manufactured $67500 (debit)

Accounts Payable - Overheads $67500 (credit)

g) overhead applied

Cost of Goods Manufactured $908500 (debit)

Accounts Payable - Overheads $908500 (credit)

(h) payment of total wages costs

Salaries and Wages Accrued $1505000 (debit)

Cash $1505000 (credit)

Explanation:

(a) raw materials purchases

Recognise Assets of Raw Materials purchased and also recognise a liability for the present obligation created by Sierra towards its suppliers of Raw Materials.

(b) direct materials usage

Recognise an expense - Cost of Goods sold arising from a decrease in Assets of Raw Materials as they are consumed in the production process.

(c) indirect materials usage

Recognise an expense - Cost of Goods sold arising from a decrease in Assets of Raw Materials as they are consumed in the production process.

(d) direct labor usage

Recognise an expense - Cost of Goods sold arising from an increase in a liability Salaries and Wages that Accrue as labor is used in the manufacturing process.

(e) indirect labor usage

Recognise an expense - Cost of Goods sold arising from an increase in a liability Salaries and Wages that Accrue as labor is used in the manufacturing process.

(f) other overhead costs

Recognise an expense - Cost of Goods sold arising from an increase in Liabilities Accrued from other Accounts use in providing overheads in the manufacturing process.

g) overhead applied

Recognise an expense - Cost of Goods sold arising from an increase in Liabilities Accrued from other Accounts use in providing overheads in the manufacturing process.

(h) payment of total wages costs

Here we are de-recognising the liability Salaries and Wages Accrued as the Account is being settled, also derecognise the assets of cash since there is an outflow of cash resource from the entity

the correct answer is - no.

winnipeg, canada, is not further away from the equator than moscow, russia, in fact moscow is the city that is further away from the equator. moscow is on a latitude of 55.7558° north, while winnipeg is on a latitude of 49.8951° north, thus putting moscow by 5.8607° further away from the equator than winnipeg is.

the correct answer for apex is “ doubling a recipe and figuring out how many cups of paint to use are both examples of using math skills”.