Crane Company purchases $52,000 of raw materials on account, and it incurs $62,400 of factory labor costs. Supporting records show that (a) the Assembly Department used $24,960 of direct materials and $36,400 of direct labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs. Journalize the assignment of overhead to the Assembly and Finishing Departments. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Crane Company purchases $52,000 of raw materials on account, and it incurs $62,400 of factory labor costs. Supporting records show
that (a) the Assembly Department used $24,960 of direct materials and $36,400 of direct labor, and (b) the Finishing Department used
the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs.
Journalize the assignment of overhead to the Assembly and Finishing Departments. (List all debit entries before credit entries. Credit
account titles are automatically indented when amount is entered. Do not indent manually.)
Date Account Titles
Mar.31
Debit
Credit
Transcribed Image Text:Crane Company purchases $52,000 of raw materials on account, and it incurs $62,400 of factory labor costs. Supporting records show that (a) the Assembly Department used $24,960 of direct materials and $36,400 of direct labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs. Journalize the assignment of overhead to the Assembly and Finishing Departments. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Mar.31 Debit Credit
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