In January, Wildhorse Tool & Die requisitions raw materials for production as follows: Job 1 $910, Job 2 $1,500, Job 3 $810, and general factory use $710. Prepare a summary journal entry to record raw materials used. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 31 Debit Credit

In January, Wildhorse Tool & Die requisitions raw materials for production as follows: Job 1 $910, Job 2 $1,500, Job 3 $810, and general factory use $710. Prepare a summary journal entry to record raw materials used. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 31 Debit Credit

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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Entry for Jobs Completed; Cost of Unfinished Jobs The following account appears in the ledger prior to recognizing the jobs completed in January: Work in Process Balance, January 1 $17,970 Direct materials 146,100 Direct labor 157,600 Factory overhead 82,840 Jobs finished during January are summarized as follows: Job 210 $72,810 Job 224 $84,950 Job 216 44,500 Job 230 149,670 a. Journalize the entry to record the jobs completed. If an amount box does not require an entry, leave it blank.
Entry for Jobs Completed; Cost of Unfinished Jobs The following account appears in the ledger prior to recognizing the jobs completed in January: Work in Process Balance, January 1 $11,420 Direct materials 92,840 Direct labor 100,150 Factory overhead 52,650 Jobs finished during January are summarized as follows: Job 210 $46,270 Job 224 $53,980 Job 216 28,280 Job 230 97,680 a. Journalize the entry to record the jobs completed. If an amount box does not require an entry, leave it blank. - Select - - Select - - Select - - Select - b. Determine the cost of the unfinished jobs at January 31.$fill in the blank 14d786ff9fe8ffc_1
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Jenniter Manufacturing Company uses a job order cost accounting system and keeps perpetual inventory records. Prepare journal entries to record the following transactions during the month of June. by drogging and dropping the oppropriate accounts: Transaction Debit Credit Purchosed raw materials for $20.000 on account $8.000 of airect materials were requisitioned by production Pala factory utilities of $2.100 Incurred $108.000 of assembly line labor wages Alocated manufacturing overhead to production based on o predeterminea overhead rate of $7 per airect labor hour woriced. Goods costing $18.000 were completed in the factory and were transferred to nished goods. Row materiais inventory Accounts payable Work in process inventory Raw materiais inventory Manufacturing overhead control Cosh Work in process inventory Wages payable Work in process inventory Activate Windows Manutacturing overhead alocated Finished goods inventory Work in process inventory Go to Settings to activate Window
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Required information [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 a. Materials purchases (on credit). b. Direct materials used. View transaction list Journal entry worksheet
Polly's Popcorn Manufacturing Overhed applied to jobs in June was $200,000 the actual manufacturing overhead was $240,000. The balance in Work in porocee inventory was $200,000, the balance in finished goods inventory was $600,000 and the balance in Cost of Goods Sold was $1,000,000. Prepare the required adjusting journal entry for June 30th
Subject : Accounting
Prepare journal entry
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