Jenniter Manufacturing Company uses a job order cost accounting system and keeps perpetual inventory records. Preparejournal entries to record the following transactions during the month of June. by drogging and dropping the oppropriateaccounts:TransactionDebitCreditPurchosed raw materials for $20.000 on account$8.000 of airect materials were requisitioned by productionPala factory utilities of $2.100Incurred $108.000 of assembly line labor wagesAlocated manufacturing overhead to production based on opredeterminea overhead rate of $7 per airect labor hour woriced.Goods costing $18.000 were completed in the factory and were transferred tonished goods.Row materiais inventoryAccounts payableWork in process inventoryRaw materiais inventoryManufacturing overhead controlCoshWork in process inventoryWages payableWork in process inventoryActivate WindowsManutacturing overhead alocatedFinished goods inventoryWork in process inventoryGo to Settings to activate Window

Name: Jenniter Manufacturing Company uses a job order cost accounting syste
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Description: Jenniter Manufacturing Company uses a job order cost accounting system and keeps perpetual inventory records. Preparejournal entries to record the following transactions during the month of June. by drogging and dropping the oppropriateaccounts:Tran

Under the perpetual inventory system, the inventory accounts are immediately updated whenever any…

Business

Accounting

Jennifer Manutacturing Company uses a job order cost accounting tystem and keeps perpetual inventory recorads. Prepare journal entries to recora the folowing transoctions during the month of June. by drogging and dropping the appropriate occounts: Transaction Deb Credit Purchosed raw materials for $20.000 on account 34.000 of airect materials were requiutioned by production Pala tactory utities of $2.100 ncured $108.000 of assembly ine labor wages Alocated manutacturing overhead to production based on a predeterminea overhead rate of $7 per airect lobor hour worced. Goodi costing $18.000 were completed in the factory and were transferred to hished goods. Row materiais inventory Accounti pavable Work in process inventory Row materiais inventory Manutacturing overhead control Con Work in process inventory Wages payoble Work in process inventory Activate Windows Go to Settings to activate Windo Manutacturing overhead allocated Finished goods inventory Wor in process inventory

Jennifer Manutacturing Company uses a job order cost accounting tystem and keeps perpetual inventory recorads. Prepare journal entries to recora the folowing transoctions during the month of June. by drogging and dropping the appropriate occounts: Transaction Deb Credit Purchosed raw materials for $20.000 on account 34.000 of airect materials were requiutioned by production Pala tactory utities of $2.100 ncured $108.000 of assembly ine labor wages Alocated manutacturing overhead to production based on a predeterminea overhead rate of $7 per airect lobor hour worced. Goodi costing $18.000 were completed in the factory and were transferred to hished goods. Row materiais inventory Accounti pavable Work in process inventory Row materiais inventory Manutacturing overhead control Con Work in process inventory Wages payoble Work in process inventory Activate Windows Go to Settings to activate Windo Manutacturing overhead allocated Finished goods inventory Wor in process inventory

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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show working notes for c,d,e,f,g Elite Home Decor manufactures customized household furnishings. The company uses a perpetual inventory system and has a highly labor-intensive production process, so it assigns manufacturing overhead based on direct labor costs. Elite expects to incur $2,205,000 of manufacturing overhead costs and estimated direct labor costs of $3,150,000 during 2020. At the end of December 2019, Elite reported work in process inventory (Job 551) of $93,000 The following events occurred during January - March 2020. Direct Materials Direct Labour Job 551 Job 552 Job 553 Job 554 $70,200 97,500 105,300 117,000 $61,200 115,600 78,200 85,000 Purchased materials on account, $392,000 Incurred manufacturing wages of $400,000 Requisitioned direct materials and used direct labor in manufacturing Issued indirect materials to production, $30,000 5.Charged indirect manufacturing wages to production, $60,000 6.Depreciation of…
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