Required information The following information applies to the questions displaye

Question

Required information The following information applies to the questions displayed below) The following infor 3 of 4 job order costing system. 9 security products and uses a Inventories Raw materials Work in process Finished goods $47,000 42,000 19,280 9,200 52,000 34,980 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 178,800 300,800 Book Indirect materials Indirect labor Other overhead costs 15,880 69,800 92,580 1,300,00e Sales (received in cash) Predetermined overhead rate based on direct labor cost 55% 1. Direct labor usage. 2. Indirect labor usage. 3. Total payroll paid in cash. Prepare journal entries for the above transactions for the month of May

Explanation / Answer

1 Work in Process inventory 231000 =300000-69000         Factory wages payable 231000 2 Factory overhead 69000         Factory wages payable 69000 3 Factory wages payable 300000         Cash 300000

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