In addition, the following transactions occurred in 2022: 1. 2. 3. 4. 5. Raw materials purchased on account, $70,500. Incurred factory labor, $75,200, all is direct labor. Incurred the following overhead costs during the year: utilities $6,392, depreciation on manufacturing machinery $7,520, manufacturing machinery repairs $8,648, factory insurance $8,460 (Credit Accounts Payable and Accumulated Depreciation). Assigned $75,200 of factory labor to jobs. Applied $33,840 of overhead to jobs.
In addition, the following transactions occurred in 2022: 1. 2. 3. 4. 5. Raw materials purchased on account, $70,500. Incurred factory labor, $75,200, all is direct labor. Incurred the following overhead costs during the year: utilities $6,392, depreciation on manufacturing machinery $7,520, manufacturing machinery repairs $8,648, factory insurance $8,460 (Credit Accounts Payable and Accumulated Depreciation). Assigned $75,200 of factory labor to jobs. Applied $33,840 of overhead to jobs.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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