During the current month, Sandhill Company incurs the following manufacturing costs. (a) Purchased raw materials of $22,400 on account. (b) Incurred factory labor of $48,000. (c) Factory utilities of $3,440 are payable, prepaid factory insurance of $3,160 have expired, and depreciation on the factory building is $11,600. Prepare 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.) No. Account Titles and Explanation (a) Debit Credit (b) (Purchases of raw materials on account) (c) (To record factory labor costs) (To record overhead costs)
During the current month, Sandhill Company incurs the following manufacturing costs. (a) Purchased raw materials of $22,400 on account. (b) Incurred factory labor of $48,000. (c) Factory utilities of $3,440 are payable, prepaid factory insurance of $3,160 have expired, and depreciation on the factory building is $11,600. Prepare 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.) No. Account Titles and Explanation (a) Debit Credit (b) (Purchases of raw materials on account) (c) (To record factory labor costs) (To record overhead costs)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:During the current month, Sandhill Company incurs the following manufacturing costs.
(a) Purchased raw materials of $22,400 on account.
(b)
Incurred factory labor of $48,000.
(c) Factory utilities of $3,440 are payable, prepaid factory insurance of $3,160 have expired, and depreciation on the factory
building is $11,600.
Prepare 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.)
No. Account Titles and Explanation
(a)
Debit
Credit
(b)
(Purchases of raw materials on account)
(c)
(To record factory labor costs)
(To record overhead costs)
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