During January, its first month of operations, Carla Vista Company accumulated the following manufacturing costs: raw materials purchased $4,600 on account, factory labor incurred $7,300, and factory utilities payable $2,400. Prepare separate journal entries for each type of manufacturing cost. (List all debit entries before credit entries. Credit account titles are automatically Indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Jan. 31 Raw Materials Inventory 31 31 Accounts Payable (To record purchase of raw materials on account) Work in Process Inventory Manufacturing Overhead (To record factory labor costs) wage (To record entry for utilities payable) Debit Credit

During January, its first month of operations, Carla Vista Company accumulated the following manufacturing costs: raw materials purchased $4,600 on account, factory labor incurred $7,300, and factory utilities payable $2,400. Prepare separate journal entries for each type of manufacturing cost. (List all debit entries before credit entries. Credit account titles are automatically Indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Jan. 31 Raw Materials Inventory 31 31 Accounts Payable (To record purchase of raw materials on account) Work in Process Inventory Manufacturing Overhead (To record factory labor costs) wage (To record entry for utilities payable) Debit Credit

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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