1. Purchased raw materials on account $46,300. 2. Raw Materials of $36,000 were

ID: 2502329 • Letter: 1

Question

1. Purchased raw materials on account $46,300. 2. Raw Materials of $36,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,800 was classified as indirect materials. 3. Factory labor costs incurred were $55,900, of which $51,000 pertained to factory wages payable and $4,900 pertained to employer payroll taxes payable. 4. Time tickets indicated that $50,000 was direct labor and $5,900 was indirect labor. 5. Manufacturing overhead costs incurred on account were $80,500. 6. Depreciation on the company

Explanation / Answer

Description/Account Debit Credit

1. Raw Material Inventory(d) 46300

Account Payable 46300

2. WIP (D) 29200

Manufacturing overhead (D) 6800

Raw Material Inventory 36000

3. Factory payroll (D) 53900

Wages Payable 49000

Payroll taxes payable 4900

4. WIP (D) 48000

Manufacturing overhead(D) 5900

Factory payroll 53900

5. Manufacturing overhead (D) 80500

Account payable 80500

6. WIP (D) 72000

Manufacturing overhead applied 72000

7. Finished Goods(D) 88000

WIP 88000

8 Account receivable (D) 103000

Sales 103000

Cost of goods sold(D) 75000

Finished goods 75000

debits are marked with (D) sorry for this format

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1. Purchased raw materials on account $46,300. 2. Raw Materials of $36,000 were

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