On November 2, Newsprint Manufacturing purchases 5 rolls of paper on account at$125 per roll for use within the production process. On November 5, 4 rolls of thispaper are issued to Job 157A in the Printing Department. The Printing Departmentapplies $675 in direct labor and $1,150 of factory overhead to Job 157A. OnNovember 8, Printing transfers Job 157A to the Folding Department. The FoldingDepartment applies $450 in direct labor and $655 in factory overhead to Job 157A.Job 157A is transferred to Finished Goods inventory on November 9.If an amount box does not require an entry, leave it blank. a. Journalize the entry to record the purchase of the paper.Nov. 2b. Journalize the entries to record (1) the transfer of raw materials to work inprocess, (2) the application of direct labor, and (3) the application of manufacturioverhead to Job 157A while in the Printing Department.1.2.3.c. Journalize the entry to record the transfer of Job 157A to the Folding Departmentt actual cost.Nov. 8d. Journalize the entries to record (1) the application of direct labor and (2) theapplication'of manufacturing overhead to Job 157A while in the Folding Department.1.2.e. Journalize the entry to record the transfer of Job 157A to Finished Goods Inventoryat actual cost.Nov. 9

The cost incurred to a Job is debited to Work in Process till the Job is completed. All the costs…

Answered: On November 2, Newsprint Manufacturing…

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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On November 2, Newsprint Manufacturing purchases 5 rolls of paper on account at $125 per roll for use within the production process. On November 5, 4 rolls of this paper are issued to Job 157A in the Printing Department. The Printing Department applies $675 in direct labor and $1,150 of factory overhead to Job 157A. On November 8, Printing transfers Job 157A to the Folding Department. The Folding Department applies $450 in direct labor and $655 in factory overhead to Job 157A. Job 157A is transferred to Finished Goods inventory on November 9. If an amount box does not require an entry, leave it blank.

a. Journalize the entry to record the purchase of the paper.
Nov. 2
b. Journalize the entries to record (1) the transfer of raw materials to work in
process, (2) the application of direct labor, and (3) the application of manufacturi
overhead to Job 157A while in the Printing Department.
1.
2.
3.
c. Journalize the entry to record the transfer of Job 157A to the Folding Department
t actual cost.
Nov. 8
d. Journalize the entries to record (1) the application of direct labor and (2) the
application'of manufacturing overhead to Job 157A while in the Folding Department.
1.
2.
e. Journalize the entry to record the transfer of Job 157A to Finished Goods Inventory
at actual cost.
Nov. 9

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