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Description Debit Credit Materials inventory 58,500 v Accounts payable 58,500 v b. Of the total dollar value of materials used, $46,500 represented direct material and $16,500 indirect material, Description Work in process inventory Debit Credit 46,500 v Manufacturing overhead 16,500 v Materials inventory 63,000 v c. Determined total factory labor, $202,500 (22,500 hrs. @ $9/hr.). d. Of the factory labor, 80% was direct and 20% indirect. Description Debit Credit Work in process inventory 162,000 v Manufacturing overhead 40,500 v Wages payable 202,500 e. Applied manufacturing overhead based on direct labor hours to work in process. Description Work in process inventory Debit Credit Manufacturing overhead f. Determined actual manufacturing overhead other than those items already recorded, $138,000. (Credit Accounts Payable.) Description Manufacturing overhead Accounts payable Debit Credit 138,000 v 138,000 g. Ending inventories of work in process and finished goods were $48,000 and $85,500, respectively. Determine the cost of finished goods (credit WIP) and the cost of goods sold (credit FG inventory). Make sep- Description Debit Credit Finished goods inventory Work in process inventory Debit Credit Description Cost of goods sold Finished goods inventory h. Transferred the balance in Manufacturing Overhead to Cost of Goods Sold. Description Debit Credit

Description Debit Credit Materials inventory 58,500 v Accounts payable 58,500 v b. Of the total dollar value of materials used, $46,500 represented direct material and $16,500 indirect material, Description Work in process inventory Debit Credit 46,500 v Manufacturing overhead 16,500 v Materials inventory 63,000 v c. Determined total factory labor, $202,500 (22,500 hrs. @ $9/hr.). d. Of the factory labor, 80% was direct and 20% indirect. Description Debit Credit Work in process inventory 162,000 v Manufacturing overhead 40,500 v Wages payable 202,500 e. Applied manufacturing overhead based on direct labor hours to work in process. Description Work in process inventory Debit Credit Manufacturing overhead f. Determined actual manufacturing overhead other than those items already recorded, $138,000. (Credit Accounts Payable.) Description Manufacturing overhead Accounts payable Debit Credit 138,000 v 138,000 g. Ending inventories of work in process and finished goods were $48,000 and $85,500, respectively. Determine the cost of finished goods (credit WIP) and the cost of goods sold (credit FG inventory). Make sep- Description Debit Credit Finished goods inventory Work in process inventory Debit Credit Description Cost of goods sold Finished goods inventory h. Transferred the balance in Manufacturing Overhead to Cost of Goods Sold. Description Debit Credit

FINANCIAL ACCOUNTING
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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Additional information. Prior to the beginning of 2016 low company estimated that it would encourage $246,000 of Manor factoring overhead cost during 2016, using 24,000 direct labor hours to produce the desired volume of gpods. 

How would I make the appropriate Journal entries for letters e, g, and h?

Description Debit Credit Materials inventory 58,500 Accounts payable 58,500 b. Of the total dollar value of materials used, $46,500 represented direct material and $16,500 indirect material. Description Debit Credit Work in process inventory 46,500 Manufacturing overhead 16,500 v Materials inventory 63,000 c. Determined total factory labor, $202,500 (22,500 hrs. @ $9/hr.). d. Of the factory labor, 80% was direct and 20% indirect. Description Debit Credit Work in process inventory 162,000 Manufacturing overhead 40,500 v Wages payable 202,500 e. Applied manufacturing overhead based on direct labor hours to work in process. Description Debit Credit Work in process inventory Manufacturing overhead f. Determined actual manufacturing overhead other than those items already recorded, $138,000. (Credit Accounts Payable.) Description Debit Credit Manufacturing overhead 138,000 v Accounts payable 138,000 g. Ending inventories of work in process and finished goods were $48,000 and $85,500, respectively. Determine the cost of finished goods (credit WIP) and the cost of goods sold (credit FG inventory). Make separa Description Debit Credit Finished goods inventory Work in process inventory Description Debit Credit Cost of goods sold Finished goods inventory h. Transferred the balance in Manufacturing Overhead to Cost of Goods Sold. Description Debit Credit Manufacturing overhead
Transcribed Image Text:Description Debit Credit Materials inventory 58,500 Accounts payable 58,500 b. Of the total dollar value of materials used, $46,500 represented direct material and $16,500 indirect material. Description Debit Credit Work in process inventory 46,500 Manufacturing overhead 16,500 v Materials inventory 63,000 c. Determined total factory labor, $202,500 (22,500 hrs. @ $9/hr.). d. Of the factory labor, 80% was direct and 20% indirect. Description Debit Credit Work in process inventory 162,000 Manufacturing overhead 40,500 v Wages payable 202,500 e. Applied manufacturing overhead based on direct labor hours to work in process. Description Debit Credit Work in process inventory Manufacturing overhead f. Determined actual manufacturing overhead other than those items already recorded, $138,000. (Credit Accounts Payable.) Description Debit Credit Manufacturing overhead 138,000 v Accounts payable 138,000 g. Ending inventories of work in process and finished goods were $48,000 and $85,500, respectively. Determine the cost of finished goods (credit WIP) and the cost of goods sold (credit FG inventory). Make separa Description Debit Credit Finished goods inventory Work in process inventory Description Debit Credit Cost of goods sold Finished goods inventory h. Transferred the balance in Manufacturing Overhead to Cost of Goods Sold. Description Debit Credit Manufacturing overhead
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