CV Dodo asks you to help their new accounting staffs to prepare journal entries for the following transactions related to Job 14A1: 1. The company purchased 10,000 units of raw material JO1 from ABC Company on terms 2/10, n/30. for IDR 4.400.000 2. The following raw and auxiliary materials are issued: a. X raw materials to be used in work; price IDR 1.800.000; material request form s no. 1040. b. Auxiliary materials to be used is Rp.1.000.000 ; The material request form is 1041. 3. Factory wages is Rp 8.000.000 is already paid 4. Transferred factory wage balance: a. Direct labor Rp7.000.000 b. Indirect labor Rp1.000.000 5. Assign predetermined factory overhead costs to work in progress. The manufacturing overhead cost is
CV Dodo asks you to help their new accounting staffs to prepare journal entries for the following transactions related to Job 14A1: 1. The company purchased 10,000 units of raw material JO1 from ABC Company on terms 2/10, n/30. for IDR 4.400.000 2. The following raw and auxiliary materials are issued: a. X raw materials to be used in work; price IDR 1.800.000; material request form s no. 1040. b. Auxiliary materials to be used is Rp.1.000.000 ; The material request form is 1041. 3. Factory wages is Rp 8.000.000 is already paid 4. Transferred factory wage balance: a. Direct labor Rp7.000.000 b. Indirect labor Rp1.000.000 5. Assign predetermined factory overhead costs to work in progress. The manufacturing overhead cost is
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 02
CV Dodo asks you to help their new accounting staffs to prepare journal entries for the following
transactions related to Job 14A1:
1. The company purchased 10,000 units of raw material J01 from ABC Company on terms 2/10, n/30.
for IDR 4.400.000
2. The following raw and auxiliary materials are issued:
a. X raw materials to be used in work; price IDR 1.800.000; material request form s no. 1040.
b. Auxiliary materials to be used is Rp.1.000.000 ; The material request form is 1041.
3. Factory wages is Rp 8.000.000 is already paid
4. Transferred factory wage balance:
a. Direct labor Rp7.000.000
b. Indirect labor Rp1.000.000
5. Assign predetermined factory overhead costs to work in progress. The manufacturing overhead cost is
70% of direct labor cost.
6. The company paid electricity bill for Rp5.200.000 used by the factory
7. The company completed the work of Job 14A1
8. The company sold the product Rp.13.800.000
9. The company close any outstanding overhead related to Job 14A1
1:56 AM
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27°C
12-Sep-21
Expert Solution
Step 1
Journal Entry
In the manufacturing concerned the process enter the purchase of material and usages are in separate way. Manufacturing concerned mainly has three inventory category. Raw Material Purchase, Work in process Inventory and Finished goods inventory. Direct cost and indirect cost are recorded in separate way in the journal to easily identify the segregation in cost.
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