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))
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Yu.33
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
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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