For each of the five transactions described below, use the dropdown boxes to ind

Question

For each of the five transactions described below, use the dropdown boxes to indicate which account should be debited and which account should be credited. Transaction Debit Credit 1. Direct materials are issued into production for a specific job 2. Salary of the Production Supervisor is payable 3. Lubricating oil, waste cotton, and solder are used in the factory. 4. The wages of direct laborers who worked on a particular job are payable. Manufacturing overhead is applied to jobs using a predetermined overhead rate.

Explanation / Answer

Debit Credit 1 Direct materials are issued into production for a specifice job WIP raw materials 2 Salary of the Production Supervisor is payable FOH wages payable 3 lubricating oil, waste cotton ,and solder are used in factory FOH raw materials 4 The wages of direct laborers who worked on a particual job are payable WIP wages payable 5 manufacturing overhead is applied to jobs using a predertermined oh rate WIP FOH where WIP = work in process FOH = factory overhead

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