Create the general journal entries, post to the T-Accounts, and record all applicable entries to the job sheets.a. Raw materials of $50,000.00 were purchased with cashb. Factory labor wages of $40,000.00were paid with cash.Factory labor costs were allocated as such:Product Green:15,000.00Product White: 10,000.00Indirect Labor10,000.00d. Raw materials were transferred as such:Product Green:20,000.00Product White:15,000.00Indirect Materials5,000.00e Factory utility costs are paid with cash $15,000.00f. Allocate manufacturing overhead to products based upon a predermined overhead rate of 90% of direct labor costsg. Product White is finished and transferred to finished goods inventoryh. Product White is sold for cash$50,000.00

Create the general journal entries, post to the T-Accounts, and record all applicable entries to the job sheets.a. Raw materials of $50,000.00 were purchased with cashb. Factory labor wages of $40,000.00were paid with cash.Factory labor costs were allocated as such:Product Green:15,000.00Product White: 10,000.00Indirect Labor10,000.00d. Raw materials were transferred as such:Product Green:20,000.00Product White:15,000.00Indirect Materials5,000.00e Factory utility costs are paid with cash $15,000.00f. Allocate manufacturing overhead to products based upon a predermined overhead rate of 90% of direct labor costsg. Product White is finished and transferred to finished goods inventoryh. Product White is sold for cash$50,000.00

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Description: Create the general journal entries, post to the T-Accounts, and record all applicable entries to the job sheets.a. Rawmaterials of $50,000.00 were purchased with cashb. Factory labor wages of $40,000.00were paid with cash.Factorylabor costs were all

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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