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Prepare journal entries for manufacturing costs. D3.13 (LO 2) During the current month, Dalmar Company incurs the following manufacturing costs: 1. Purchased raw materials of $16,000 on account. 2. Incurred factory labour of $40,000. 3. Factory utilities of $3,100 are payable, prepaid factory insurance of $2,400 has expired, and depreciation on the factory building is $9,500. Prepare journal entries for each type of manufacturing cost. (Use a summary entry to record manufacturing overhead.)

Prepare journal entries for manufacturing costs. D3.13 (LO 2) During the current month, Dalmar Company incurs the following manufacturing costs: 1. Purchased raw materials of $16,000 on account. 2. Incurred factory labour of $40,000. 3. Factory utilities of $3,100 are payable, prepaid factory insurance of $2,400 has expired, and depreciation on the factory building is $9,500. Prepare journal entries for each type of manufacturing cost. (Use a summary entry to record manufacturing overhead.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Prepare journal entries for manufacturing costs. D3.13 (LO 2) During the current month, Dalmar Company incurs the following manufacturing costs: 1. Purchased raw materials of $16,000 on account. 2. Incurred factory labour of $40,000. 3. Factory utilities of $3,100 are payable, prepaid factory insurance of $2,400 has expired, and depreciation on the factory building is $9,500. Prepare journal entries for each type of manufacturing cost. (Use a summary entry to record manufacturing overhead.)
Transcribed Image Text:Prepare journal entries for manufacturing costs. D3.13 (LO 2) During the current month, Dalmar Company incurs the following manufacturing costs: 1. Purchased raw materials of $16,000 on account. 2. Incurred factory labour of $40,000. 3. Factory utilities of $3,100 are payable, prepaid factory insurance of $2,400 has expired, and depreciation on the factory building is $9,500. Prepare journal entries for each type of manufacturing cost. (Use a summary entry to record manufacturing overhead.)
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