eaE Connect xG margin of safety formua+ 8 Prepare journal entries to record the

Question

eaE Connect xG margin of safety formua+ 8 Prepare journal entries to record the following production activities for Hotwax 3.33 points 1. Requisitioned $14,100 of Indirect materials for use in production of surfboard wax 2. Incurred $218,000 overhead costs (credit Other accounts) 3. Applied overhead at the rate of 145% of direct labor costs. Direct labor costs were S 185000. Journal entry worksheet Requisitioned $34,100 of indirect materials for use in production of surfboard ?Type here to search oe?? ? 0- O+ 20 F7 10 d-

Explanation / Answer

Transaction General Journal Debit Credit 1. Factory overhead $14,100 Raw materials inventory $14,100 2. Factory overhead $218,000 Other accounts $218,000 3. Work in process inventory $268,250 Factory overhead $268,250

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