a Purchased raw materials on account for $243,800. b. Issued $233,800 in raw materials to production ($35,800 were not traceable to specific jobs). c. Incurred $245,800 in direct labor costs (27.920 hours) and $96.300 in supervision costs (paid in cash). d. Incurred the following additional manufacturing overhead costs: factory utilities $27,800 (paid in cash), depreciation on equipment $48,800; indirect supplies $21,300 (paid in cash). e. Incurred the following nonmanufacturing costs, both paid in cash: advertising $78,800; sales salaries $91,800. f Applied manufacturing overhead to jobs in process at a rate of $9 per direct labor hour. Completed jobs costing a total of $647,800. Sold jobs for $859,800 on account. The cost of the jobs was $645,800. Closed the manufacturing overhead account balance. uired: are the journal entries to record these transactions. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.
a Purchased raw materials on account for $243,800. b. Issued $233,800 in raw materials to production ($35,800 were not traceable to specific jobs). c. Incurred $245,800 in direct labor costs (27.920 hours) and $96.300 in supervision costs (paid in cash). d. Incurred the following additional manufacturing overhead costs: factory utilities $27,800 (paid in cash), depreciation on equipment $48,800; indirect supplies $21,300 (paid in cash). e. Incurred the following nonmanufacturing costs, both paid in cash: advertising $78,800; sales salaries $91,800. f Applied manufacturing overhead to jobs in process at a rate of $9 per direct labor hour. Completed jobs costing a total of $647,800. Sold jobs for $859,800 on account. The cost of the jobs was $645,800. Closed the manufacturing overhead account balance. uired: are the journal entries to record these transactions. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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