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Purchased raw materials on account $55,800. Raw materials of $37,600 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,500 was classified as indirect materials. Factory labour costs incurred were $63,000. Time tickets indicated that $55,600 was direct labour and $7,400 was indirect labour. 5. Manufacturing overhead costs incurred on account were $84,600. 6. Depreciation on the company's office building was $8,300. 7. Manufacturing overhead was applied at the rate of 160% of direct labour cost. Goods costing $93,800 were completed and transferred to finished goods. Finished goods costing $83,900 to manufacture were sold on account for $104,400. 1. 2. 3. 4. 8. 9. ournalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit

Purchased raw materials on account $55,800. Raw materials of $37,600 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,500 was classified as indirect materials. Factory labour costs incurred were $63,000. Time tickets indicated that $55,600 was direct labour and $7,400 was indirect labour. 5. Manufacturing overhead costs incurred on account were $84,600. 6. Depreciation on the company's office building was $8,300. 7. Manufacturing overhead was applied at the rate of 160% of direct labour cost. Goods costing $93,800 were completed and transferred to finished goods. Finished goods costing $83,900 to manufacture were sold on account for $104,400. 1. 2. 3. 4. 8. 9. ournalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit

FINANCIAL ACCOUNTING
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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Purchased raw materials on account $55,800. Raw materials of $37,600 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,500 was classified as indirect materials. Factory labour costs incurred were $63,000. Time tickets indicated that $55,600 was direct labour and $7,400 was indirect labour. Manufacturing overhead costs incurred on account were $84,600. Depreciation on the company's office building was $8,300. 7. Manufacturing overhead was applied at the rate of 160% of direct labour cost. Goods costing $93,800 were completed and transferred to finished goods. Finished goods costing $83,900 to manufacture were sold on account for $104,400. 2. 3. 4. 5. 6. 8. 9. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit
Transcribed Image Text:Purchased raw materials on account $55,800. Raw materials of $37,600 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,500 was classified as indirect materials. Factory labour costs incurred were $63,000. Time tickets indicated that $55,600 was direct labour and $7,400 was indirect labour. Manufacturing overhead costs incurred on account were $84,600. Depreciation on the company's office building was $8,300. 7. Manufacturing overhead was applied at the rate of 160% of direct labour cost. Goods costing $93,800 were completed and transferred to finished goods. Finished goods costing $83,900 to manufacture were sold on account for $104,400. 2. 3. 4. 5. 6. 8. 9. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit
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