Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $53,800. 2. Raw Materials of $36,500 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,500 was classified as indirect materials. 3. Factory labor costs incurred were $61,900, of which $50,000 pertained to factory wages payable and $11,900 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,900 was direct labor and $7,000 was indirect labor. 5. Manufacturing overhead costs incurred on account were $82,300. 6. Depreciation on the company’s office building was $9,000. 7. Manufacturing overhead was applied at the rate of 160% of direct labor cost. 8. Goods costing $96,600 were completed and transferred to finished goods. 9. Finished goods costing $79,400 to manufacture were sold on account for $106,800. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $53,800. 2. Raw Materials of $36,500 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,500 was classified as indirect materials. 3. Factory labor costs incurred were $61,900, of which $50,000 pertained to factory wages payable and $11,900 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,900 was direct labor and $7,000 was indirect labor. 5. Manufacturing overhead costs incurred on account were $82,300. 6. Depreciation on the company’s office building was $9,000. 7. Manufacturing overhead was applied at the rate of 160% of direct labor cost. 8. Goods costing $96,600 were completed and transferred to finished goods. 9. Finished goods costing $79,400 to manufacture were sold on account for $106,800. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Crawford Corporation incurred the following transactions.
| 1. | Purchased raw materials on account $53,800. | |
| 2. | Raw Materials of $36,500 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,500 was classified as indirect materials. | |
| 3. | ||
| 4. | Time tickets indicated that $54,900 was direct labor and $7,000 was indirect labor. | |
| 5. | Manufacturing |
|
| 6. | ||
| 7. | Manufacturing overhead was applied at the rate of 160% of direct labor cost. | |
| 8. | Goods costing $96,600 were completed and transferred to finished goods. | |
| 9. | Finished goods costing $79,400 to manufacture were sold on account for $106,800. |
Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
|
No.
|
Account Titles and Explanation
|
Debit
|
Credit
|
|---|
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