e Sign ln or Sign Up | Che × e https//edugen.wileyplus /main uni Kimmiel, Accoun

Question

e Sign ln or Sign Up | Che × e https//edugen.wileyplus /main uni Kimmiel, Accounting, 6e 1. Purchased raw materials on account $53,800. of $36, 500 were requisitioned to the factory. An analyss of the matenals requnsition slips indicated that s8,500 was classhed as costs incurred were $61,900, of which $50,000 3. Factory labor 4. Time tickets indicated that $54.900 was direct labor and s7.000 was indirect labor pena ned to tory-ges payable-S11.900 pertaned to leyer Nyral tans 5. Maufacturing overhead costs incurred on account were $82.300 6. Deprecation on the company's office building was $9.000. Mandating overhead was oppted at the rate of 160% of drect a. Goods costing $96,600 were compieted and transferned to finshed goods 9. Finshed goods costing $79,400 to mandacture were sold on ad oumah ournaliz ze the transactions. (Credit account titles are automatically indented when amount is entered, the mot indent manually .) 0) Rights Raserved. A pe here to search

Explanation / Answer

Please comment in case of further clarification required.

Dr. Cr. 1 Raw material inventory 53800 To accouts payable 53800 2 Goods in process 28000 Factory overhead 8500 To Raw material inventory 28000 To indirect material 8500 3 WIP A/c 50000 To factory payroll 50000 3 Manufacturing overhead 11900 To factory payroll 11900 4 No journal entry 5 Manufactuing overheads 82300 To indirect overheads 82300 6 manufacturing overhead 9000 To Depriciation 9000 7 Goods in process 80000 To manufacturing overhead 80000 8 Finished Goods 96600 To Goods in process 96600 9 accounts receiveable 106800 To sales 106800 (To record the sale) 9 Cost of goods sold 79400 to finished goods 79400 (To record the cost of sale)

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.