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Bonita Corporation incurred the following transactions. 1. Purchased raw materials on account $46,800. 2. Raw Materials of $40,900 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8.600 was classified as indirect materials. Factory labor costs incurred were $63,800. Time tickets indicated that $54,300 was direct labor and $9,500 was indirect labor. Manufacturing overhead costs incurled on account were $82,300. Manufacturing overhead was applied at the rate of 150% of direct labor cost. Goods costing $93,700 were completed and transferred to finished goods, Finished goods costing $78,000 to manufacture were sold. 3. 4, 5. 6. 7. 8. Record the transactions. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg (45))

Bonita Corporation incurred the following transactions. 1. Purchased raw materials on account $46,800. 2. Raw Materials of $40,900 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8.600 was classified as indirect materials. Factory labor costs incurred were $63,800. Time tickets indicated that $54,300 was direct labor and $9,500 was indirect labor. Manufacturing overhead costs incurled on account were $82,300. Manufacturing overhead was applied at the rate of 150% of direct labor cost. Goods costing $93,700 were completed and transferred to finished goods, Finished goods costing $78,000 to manufacture were sold. 3. 4, 5. 6. 7. 8. Record the transactions. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg (45))

FINANCIAL ACCOUNTING
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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1. Purchased raw materials 2. Direct materials 2. Indirect materials 3. Incurred factory labor 4. Direct labor 4. Indirect labor 5. Overhead costs incurred 6. Assigned overhead Raw Materials Inventory $ 1 Manufacturing Costs Factory Labor Manufacturing Overhead $ S
Transcribed Image Text:1. Purchased raw materials 2. Direct materials 2. Indirect materials 3. Incurred factory labor 4. Direct labor 4. Indirect labor 5. Overhead costs incurred 6. Assigned overhead Raw Materials Inventory $ 1 Manufacturing Costs Factory Labor Manufacturing Overhead $ S
Bonita Corporation incurred the following transactions. Purchased raw materials on account $46,800. Raw Materials of $40,900 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8.600 was classified as indirect materials. Factory labor costs incurred were $63,800. Time tickets indicated that $54,300 was direct labor and $9,500 was indirect labor. Manufacturing overhead costs incurked on account were $82,300. Manufacturing overhead was applied at the rate of 150% of direct labor cost. Goods costing $93,700 were completed and transferred to finished goods, 8. Finished goods costing $78,000 to manufacture were sold. 1. 2 3. 4, 5. 6. 7. Record the transactions. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg (45))
Transcribed Image Text:Bonita Corporation incurred the following transactions. Purchased raw materials on account $46,800. Raw Materials of $40,900 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8.600 was classified as indirect materials. Factory labor costs incurred were $63,800. Time tickets indicated that $54,300 was direct labor and $9,500 was indirect labor. Manufacturing overhead costs incurked on account were $82,300. Manufacturing overhead was applied at the rate of 150% of direct labor cost. Goods costing $93,700 were completed and transferred to finished goods, 8. Finished goods costing $78,000 to manufacture were sold. 1. 2 3. 4, 5. 6. 7. Record the transactions. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg (45))
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