Prepare the journal entries for requisitioning all materials used during the month.blankAccountDebitCreditblank Prepare the journal entries for direct labor for the month. Assume the workers have not been paid yet. During February, Alexander Inc. worked on two jobs with the following data:Job 12Job 13210unitsUnits in each orderUnits sold60units140unitsMaterials requisitioned$2,540Direct labor hours840hrs.Direct labor cost$11,300Overhead is assigned on the basis of direct labor hours at a rate of $10. During February, Job 12 was completed and transferred to finished goods. Job 13 is the onlyunfinished job at the end of the month.$1,7901,110hrs.$17,420

Finished Goods -Finished goods are products that have been purchased in a completed state or that…

Answered: each order old Is requisitioned Job 12…

Business

Accounting

each order old Is requisitioned Job 12 60units 140units $2,540 Job 13 210units $1,790

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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Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $23,200, direct labor $13,920, and manufacturing overhead $18,560. As of January 1, Job 49 had been completed at a cost of $104,400 and was part of finished goods inventory. There was a $17,400 balance in the Raw Materials Inventory account. During the month of January, Lott Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $141,520 and $183,280, respectively. The following additional events occurred during the month. 1. 2. 3. 4. Job No. 50 Purchased additional raw materials of $104,400 on account. Incurred factory labor costs of $81,200. Of this amount $18,560 related to employer payroll taxes. Incurred manufacturing overhead costs as follows: indirect…
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Hello Please provide the journal enty for H.
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