Please dont provide solution in an image thanx 123457BO(1)(2)Journalize the transactions List oll debit entries before credit entries. Credit account titles are automatically indented when amount isentered. Do not indent manually)No. Account Titles and ExplanationMaterials(3)Purchased raw materials on account $42.620Raw Materials of $33.120 were requisitioned to the factory. An analysis of the materials requisition slos indicated that$6.280 was classified as indirect materialsFactory labor costs incurred were $55.120Time tickets indicated that $49.680 was direct labor and $5,440 was indirect labor(4)Manufacturing overhead costs incurred on account were $74.060.Depreciation on the company's office building was $7.440Manufacturing overhead was applied at the rate of 150% of direct labor costGoods costing $60,960 were completed and transferred to finished goodsFinished goods conting $69,000 to manufacture were sold on account for $94,760Account PWork in ProcesoryMantring OverMaterial inverFactory LaterWin ProcesverryDebit4242026340A2055.130440Credit4263033.12015.120

Lets understand the basics.The initial, systematical recording of all monetary business transactions…

2 4 Time tickets indicated that $49.680 was direct labor and $5,440 was indirect labor Manufacturing overhead costs incurred on account were $74.000 Depreciation on the company's office building was $7.440 Manufacturing overhead was applied at the rate of 150% of direct labor cost R Goods costing $80 960 were completed and transferred to finished goods W Finished goods conting $69.000 to manufacture were sold on account for $94.760 S 6 Raw Materials of $33.120 were requisitioned to the factory An analysis of th $6.280 was classed as indirect materials Factory labor costs incurred were $55.120 2 terials requisition slps indicated that Journalce the transaction ist all detit entries before credit entries Credit account sites are automatically inderted when amount in entered Do not indent manually)

2 4 Time tickets indicated that $49.680 was direct labor and $5,440 was indirect labor Manufacturing overhead costs incurred on account were $74.000 Depreciation on the company's office building was $7.440 Manufacturing overhead was applied at the rate of 150% of direct labor cost R Goods costing $80 960 were completed and transferred to finished goods W Finished goods conting $69.000 to manufacture were sold on account for $94.760 S 6 Raw Materials of $33.120 were requisitioned to the factory An analysis of th $6.280 was classed as indirect materials Factory labor costs incurred were $55.120 2 terials requisition slps indicated that Journalce the transaction ist all detit entries before credit entries Credit account sites are automatically inderted when amount in entered Do not indent manually)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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