Exercise 15-7 Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $55,800. 2. Raw Materials of $37,600 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,500 was classified as indirect materials. 3. Factory labor costs incurred were $63,000, of which $50,800 pertained to factory wages payable and $12,200 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,600 was direct labor and $7,400 was indirect labor. 5. Manufacturing overhead costs incurred on account were $84,600. 6. Depreciation on the company's office building was $8,300. 7. Manufacturing overhead was applied at the rate of 160% of direct labor cost. 8. Goods costing $93,800 were completed and transferred to finished goods. 9. Finished goods costing $83,900 to manufacture were sold on account for $104,400. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Exercise 15-7 Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $55,800. 2. Raw Materials of $37,600 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,500 was classified as indirect materials. 3. Factory labor costs incurred were $63,000, of which $50,800 pertained to factory wages payable and $12,200 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,600 was direct labor and $7,400 was indirect labor. 5. Manufacturing overhead costs incurred on account were $84,600. 6. Depreciation on the company's office building was $8,300. 7. Manufacturing overhead was applied at the rate of 160% of direct labor cost. 8. Goods costing $93,800 were completed and transferred to finished goods. 9. Finished goods costing $83,900 to manufacture were sold on account for $104,400. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Provide worded problem about compound interest
Can somebody check if this is right it's a hw problem on cengage?
Define Indirect method
What is canonical cover in DBMS?
What are the problems caused by lack of integration? Expalin.
How can thepayback method be useful?
What are some limitations of using the direct write-off method?
Explain high-low method.
Types of gap and give example with interpretation.