During January, Bonita Company's manufacturing accounts contained the following manufacturing costs: raw materials $ 740, factory labor $ 6,700, manufacturing overhead $ 3,700, and Work in Process, $ 3,060. During January, time tickets show that the factory labor of $6,700 was used as follows: Job 1$ 2,330, Job 2$ 1,780, Job 3$ 1,590, and general factory use $ 1,000. Record factory labor used. (Post material transactlons to beginning balances. Enter negative amounts using either a negative slgn preceding the number eg 45 or parentheses eg (45))
During January, Bonita Company's manufacturing accounts contained the following manufacturing costs: raw materials $ 740, factory labor $ 6,700, manufacturing overhead $ 3,700, and Work in Process, $ 3,060. During January, time tickets show that the factory labor of $6,700 was used as follows: Job 1$ 2,330, Job 2$ 1,780, Job 3$ 1,590, and general factory use $ 1,000. Record factory labor used. (Post material transactlons to beginning balances. Enter negative amounts using either a negative slgn preceding the number eg 45 or parentheses eg (45))
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:During January, Bonita Company's manufacturing accounts contained the following manufacturing costs: raw materials $ 740, factory
labor $ 6,700, manufacturing overhead $ 3,700, and Work in Process, $ 3,060. During January, time tickets show that the factory labor
of $ 6,700 was used as follows: Job 1$ 2,330, Job 2$ 1,780, Job 3$ 1,590, and general factory use $ 1,000.
Record factory labor used. (Post material transactions to beginning balances. Enter negative amounts using elther a negative sign preceding
the number eg -45 or parentheses eg. (45)
Manufacturing Costs
Raw Materials Inventory
Factory Labor
Manufacturing Overhead
Work in Proce
Accumulated
costs
%24
Direct labor
incurred
Indirect labor
incurred
Ending balance
%24
%24
%24
%24
%24
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