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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 (1) (2) (3) (4) (5) (6) (7) (8) (9) (To record the sale) (To record the cost of the sale) Debit Credit Question 7 of 12 < > View Policies - / 12.5 === Current Attempt in Progress Pharoah Corporation incurred the following transactions. 1. Purchased raw materials on account $51,920. 2. Raw Materials of $40,320 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,680 was classified as indirect materials. 3. Factory labor costs incurred were $67,120. 4. Time tickets indicated that $60,480 was direct labor and $6,640 was indirect labor. 5. Manufacturing overhead costs incurred on account were $90,160. 6. Depreciation on the company's office building was $9,040. 7. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 8. Goods costing $98,560 were completed and transferred to finished goods. 9. Finished goods costing $84,000 to manufacture were sold on account for $115,360. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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 (1) (2) (3) (4) (5) (6) (7) (8) (9) (To record the sale) (To record the cost of the sale) Debit Credit Question 7 of 12 < > View Policies - / 12.5 === Current Attempt in Progress Pharoah Corporation incurred the following transactions. 1. Purchased raw materials on account $51,920. 2. Raw Materials of $40,320 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,680 was classified as indirect materials. 3. Factory labor costs incurred were $67,120. 4. Time tickets indicated that $60,480 was direct labor and $6,640 was indirect labor. 5. Manufacturing overhead costs incurred on account were $90,160. 6. Depreciation on the company's office building was $9,040. 7. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 8. Goods costing $98,560 were completed and transferred to finished goods. 9. Finished goods costing $84,000 to manufacture were sold on account for $115,360. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
Section: Chapter Questions
Problem 4P: Halpern Companys controller prepared the following income statement and balance sheet at the end of...
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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 (1) (2) (3) (4) (5) (6) (7) (8) (9) (To record the sale) (To record the cost of the sale) Debit Credit
Transcribed Image Text: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 (1) (2) (3) (4) (5) (6) (7) (8) (9) (To record the sale) (To record the cost of the sale) Debit Credit
Question 7 of 12 < > View Policies - / 12.5 === Current Attempt in Progress Pharoah Corporation incurred the following transactions. 1. Purchased raw materials on account $51,920. 2. Raw Materials of $40,320 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,680 was classified as indirect materials. 3. Factory labor costs incurred were $67,120. 4. Time tickets indicated that $60,480 was direct labor and $6,640 was indirect labor. 5. Manufacturing overhead costs incurred on account were $90,160. 6. Depreciation on the company's office building was $9,040. 7. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 8. Goods costing $98,560 were completed and transferred to finished goods. 9. Finished goods costing $84,000 to manufacture were sold on account for $115,360. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Transcribed Image Text:Question 7 of 12 < > View Policies - / 12.5 === Current Attempt in Progress Pharoah Corporation incurred the following transactions. 1. Purchased raw materials on account $51,920. 2. Raw Materials of $40,320 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,680 was classified as indirect materials. 3. Factory labor costs incurred were $67,120. 4. Time tickets indicated that $60,480 was direct labor and $6,640 was indirect labor. 5. Manufacturing overhead costs incurred on account were $90,160. 6. Depreciation on the company's office building was $9,040. 7. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 8. Goods costing $98,560 were completed and transferred to finished goods. 9. Finished goods costing $84,000 to manufacture were sold on account for $115,360. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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