-ANALYSIS OF TRANSACTIONS- elected operations INSTRUCTIONS: Indicate the titles

Question

-ANALYSIS OF TRANSACTIONS- elected operations INSTRUCTIONS: Indicate the titles of the accounts to be debited and credited in recording the s given below by inserting the le amounts.) ACCOUNTS . Sales J. Wages Payable K. Work in Process-Department A L. Work in Process-Department B A. Accounts Payable E. Factory Overhead-Department A C. Cash D. Cost of Goods Sold G. Finished Goods H. Materials For Debit Scoring Credit Scoring 0. 0. 0. Purchased materials on account, $62,000 Materials requisitioned by Department A, $52,000, for use directly in the manufacture of the product 1-2. 1. 3-4. Labor used in Department A, $18,000, of which $12,500 was used directy 3. in the manufacture of the product 5-6. Factory overhead applied to production in Department A, $1.50 per 7-8. Goods finished in Department A and transterred to Department B 9-10. Goods finished in Department B and transferred to finished goods, 5. 1. 9. machine hour 10. $69,100 11-12. Cost of finished goods sold.

Explanation / Answer

Debit Credit 0 Direct materials purchased on account H A 1---2 materials requistioned K H 3---4 labor used K,E J 5---6 appplied overhead K E 7---8 tranferred to deptt B L K 9---10 transferred to finished G L 11----12 cost of goods sold D.B G,I

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