ortland Crystal at its plant in Portland, Oregon. Assume that the labor has been incurred, but not yet paid. Plant janitor's wages $580 Plant furnace operator's wages 910 Glass blower's wages 77,000 Journalize the transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Prepare a single compound journal entry.) Date Accounts and Explanation Debit Credit (1) (2) (3) (4) (5)
ortland Crystal at its plant in Portland, Oregon. Assume that the labor has been incurred, but not yet paid. Plant janitor's wages $580 Plant furnace operator's wages 910 Glass blower's wages 77,000 Journalize the transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Prepare a single compound journal entry.) Date Accounts and Explanation Debit Credit (1) (2) (3) (4) (5)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Journalize the following labor-related transactions for
Portland Crystal
at its plant in Portland, Oregon. Assume that the labor has been incurred, but not yet paid.|
Plant janitor's wages
|
$580
|
|---|---|
|
Plant furnace operator's wages
|
910
|
|
Glass blower's wages
|
77,000
|
Journalize the transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Prepare a single compound journal entry.)
|
Date
|
Accounts and Explanation
|
Debit
|
Credit
|
|---|---|---|---|
|
|
(1)
|
|
|
|
|
(2)
|
|
|
|
|
(3)
|
|
|
|
|
(4)
|
|
|
|
|
(5)
|
|
|
(1)
Accounts Payable
Accounts Receivable
Cost of Goods Sold
Finished Goods Inventory
Manufacturing Overhead
Manufacturing Wages
Raw Materials Inventory
Wages Payable
Work-in-Process Inventory
(2)
Accounts Payable
Accounts Receivable
Cost of Goods Sold
Finished Goods Inventory
Manufacturing Overhead
Manufacturing Wages
Raw Materials Inventory
Wages Payable
Work-in-Process Inventory
(3)
Accounts Payable
Accounts Receivable
Cost of Goods Sold
Finished Goods Inventory
Manufacturing Overhead
Manufacturing Wages
Raw Materials Inventory
Wages Payable
Work-in-Process Inventory
(4)
Accounts Payable
Accounts Receivable
Cost of Goods Sold
Finished Goods Inventory
Manufacturing Overhead
Manufacturing Wages
Raw Materials Inventory
Wages Payable
Work-in-Process Inventory
(5)
Adjusted MOH for underallocated overhead.
Allocated overhead to WIP.
Completed jobs, costs assigned to FG.
Incurred labor, direct labor assigned to WIP, indirect labor accumulated in MOH.
Incurred overhead, costs accumulated in MOH.
Purchased materials, accumulated in RM.
Sold jobs on account.
Used materials, direct materials assigned to WIP, indirect materials accumulated in MOH.
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