Sandhill Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,116, Work in Process-Cutting $2,842, Work in Process-Assembly $10,388, and Finished Goods $30,380. During July, the following transactions occurred. 1 2 3 4. 5. 6. Applied overhead at the rate of $18 per machine hour. Machine hours were Cutting 1.650 and Assembly 1.682. Transferred goods costing $66,248 from the Cutting Department to the Assembly Department. Completed and transferred goods costing $132.202 from Assembly to Finished Goods Inventory. Sold goods costing $147,000 for $196,000 on account 7. 8. Purchased $61.250 of raw materials on account. Incurred $58.800 of factory labor. (Credit Wages Payable.) Incurred $68,600 of manufacturing overhead; $39,200 was paid and the remainder is unpaid. Requisitioned materials for Cutting $15.,386 and Assembly $8,722. Used factory labor for Cutting $32.340 and Assembly $26,460. 9.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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.
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. Debit Credit
Sandhill Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,116, Work in
Process-Cutting $2,842, Work in Process-Assembly $10,388, and Finished Goods $30,380. During July, the following transactions
occurred.
1.
2
3.
4
5.
6.
7.
8.
9.
Purchased $61.250 of raw materials on account.
Incurred $58,800 of factory labor. (Credit Wages Payable.)
Incurred $68,600 of manufacturing overhead: $39,200 was paid and the remainder is unpaid.
Requisitioned materials for Cutting $15,386 and Assembly $8,722.
Used factory labor for Cutting $32,340 and Assembly $26,460.
Applied overhead at the rate of $18 per machine hour. Machine hours were Cutting 1,650 and Assembly 1,682.
Transferred goods costing $66,248 from the Cutting Department to the Assembly Department.
Completed and transferred goods costing $132.202 from Assembly to Finished Goods Inventory.
Sold goods costing $147,000 for $196,000 on account
Transcribed Image Text:Sandhill Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,116, Work in Process-Cutting $2,842, Work in Process-Assembly $10,388, and Finished Goods $30,380. During July, the following transactions occurred. 1. 2 3. 4 5. 6. 7. 8. 9. Purchased $61.250 of raw materials on account. Incurred $58,800 of factory labor. (Credit Wages Payable.) Incurred $68,600 of manufacturing overhead: $39,200 was paid and the remainder is unpaid. Requisitioned materials for Cutting $15,386 and Assembly $8,722. Used factory labor for Cutting $32,340 and Assembly $26,460. Applied overhead at the rate of $18 per machine hour. Machine hours were Cutting 1,650 and Assembly 1,682. Transferred goods costing $66,248 from the Cutting Department to the Assembly Department. Completed and transferred goods costing $132.202 from Assembly to Finished Goods Inventory. Sold goods costing $147,000 for $196,000 on account
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