2. For each of the transactions for the month below, journalize the necessary entry. The first entry has been completed for you. 891011121314151617181920212223242526272829For each of the transactions for the month below, journalize the necessary entry. The first entry has been completed for you.a. Materials purchased on account, $412,000.Descriptionb. Materials requisitioned for use in production, $398,000. $18,000 of this was for general factory use.DescriptionDebitc. Factory labor during the period was $550,000. $30,000 of this was indirect.DescriptionDebitd. Depreciation of the factory equipment, $26,000.DescriptionDebitDebitCreditCreditCreditCredit e. Depreciation of the office equipment, $15,000.Descriptionf. Factory prepaid rent that expired during the period, $6,000.Descriptiong. Office prepaid rent that expired during the period, $2,000.Descriptionh. Other costs incurred on account for factory overhead included $40,000.DescriptionDebitSheet1DebitDebitDebitECreditCreditCreditCreditFGi. Estimated factory overhead cost for the period was $120,000 and estimated direct labor hours for the period were 40,000 hours. Assumingis applied based on direct labor hours and that the company used 42,000 direct labor hours during the period, apply factory overhead.DescriptionDebitCredit

For each of the transactions for the month below, journalize the necessary entry. The first entry has been completed for you a. Materials purchased on account, $412,000. Description b. Materials requisitioned for use in production, $398,000. $18,000 of this was for general factory use. Description Debit c. Factory labor during the period was $550,000. $30,000 of this was indirect. Description d. Depreciation of the factory equipment, $26,000. Debit Description Debit Debit Credit Credit Credit Crodit

For each of the transactions for the month below, journalize the necessary entry. The first entry has been completed for you a. Materials purchased on account, $412,000. Description b. Materials requisitioned for use in production, $398,000. $18,000 of this was for general factory use. Description Debit c. Factory labor during the period was $550,000. $30,000 of this was indirect. Description d. Depreciation of the factory equipment, $26,000. Debit Description Debit Debit Credit Credit Credit Crodit

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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