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.
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...
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![In addition, the following transactions occurred in 2022:
1.
2.
3.
4.
5.
(a)
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.
Journalize the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.
List all debit entries before credit entries.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd94b7f38-2ee8-4799-bf1e-32c66d2726fa%2F0a33f7ef-9bb4-457e-b4e5-25e54d3f96bd%2Fbko171_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In addition, the following transactions occurred in 2022:
1.
2.
3.
4.
5.
(a)
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.
Journalize the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.
List all debit entries before credit entries.)
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