Saved Prepare journal entries to record the following production activities for

Question

Saved Prepare journal entries to record the following production activities for Hotwax. 1. Requisitioned $13.400 of indirect materials for use in production of surfboard wax. 2 Incurred $220,000 overhead costs (credit Other accounts). 3, Applied overhead at the rate of 150% of direct labor costs. Direct labor costs were S 190,000. Book View transaction list rint ences Journal entry worksheet 2 Applied overhead at the rate of 150% of direct labor costs. Direct labor costs were $190,000, Note: Enter debits before credits Transaction General Journal Debit Credit

Explanation / Answer

1 Factory overhead 13400         Raw materials inventory 13400 2 Factory overhead 220000       Other accounts 220000 3 Work in process inventory 285000 =190000*150%        Factory overhead 285000

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