The following data summarize the operations during the year. A. Purchase of raw materials on account. $3,000 B. Raw materials used by Job 1. $450 C. Raw materials used as indirect materials. $50 D. Direct labor for Job 1. $300 E. Indirect labor incurred. $50 F. Factory utilities incurred on account. $650 G. Adjusting entry for factory depreciation. $200 H. Manufacturing overhead applied as % of direct labor. 150% I. Job 1 is transferred to finished goods. J. Job 1 is sold. $3,100 K. Manufacturing overhead is overapplied. $100 Prepare a journal entry for each transaction. If an amount box does not require an entry, leave it blank. A. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 B. fill in the blank 8 fill in the blank 9 fill in the blank 11 fill in the blank 12 C. fill in the blank 14 fill in the blank 15 fill in the blank 17 fill in the blank 18 D. fill in the blank 20 fill in the blank 21 fill in the blank 23 fill in the blank 24 E. fill in the blank 26 fill in the blank 27 fill in the blank 29 fill in the blank 30 F. fill in the blank 32 fill in the blank 33 fill in the blank 35 fill in the blank 36 G. fill in the blank 38 fill in the blank 39 fill in the blank 41 fill in the blank 42 H. fill in the blank 44 fill in the blank 45 fill in the blank 47 fill in the blank 48 I. fill in the blank 50 fill in the blank 51 fill in the blank 53 fill in the blank 54 J. fill in the blank 56 fill in the blank 57 fill in the blank 59 fill in the blank 60 fill in the blank 62 fill in the blank 63 fill in the blank 65 fill in the blank 66 K. fill in the blank 68 fill in the blank 69 fill in the blank 71 fill in the blank 72

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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The following data summarize the operations during the year.

A. Purchase of raw materials on account.	$3,000
B. Raw materials used by Job 1.	$450
C. Raw materials used as indirect materials.	$50
D. Direct labor for Job 1.	$300
E. Indirect labor incurred.	$50
F. Factory utilities incurred on account.	$650
G. Adjusting entry for factory depreciation.	$200
H. Manufacturing overhead applied as % of direct labor.	150%
I. Job 1 is transferred to finished goods.
J. Job 1 is sold.	$3,100
K. Manufacturing overhead is overapplied.	$100

Prepare a journal entry for each transaction. If an amount box does not require an entry, leave it blank.

A.	fill in the blank 2	fill in the blank 3
	fill in the blank 5	fill in the blank 6
B.	fill in the blank 8	fill in the blank 9
	fill in the blank 11	fill in the blank 12
C.	fill in the blank 14	fill in the blank 15
	fill in the blank 17	fill in the blank 18
D.	fill in the blank 20	fill in the blank 21
	fill in the blank 23	fill in the blank 24
E.	fill in the blank 26	fill in the blank 27
	fill in the blank 29	fill in the blank 30
F.	fill in the blank 32	fill in the blank 33
	fill in the blank 35	fill in the blank 36
G.	fill in the blank 38	fill in the blank 39
	fill in the blank 41	fill in the blank 42
H.	fill in the blank 44	fill in the blank 45
	fill in the blank 47	fill in the blank 48
I.	fill in the blank 50	fill in the blank 51
	fill in the blank 53	fill in the blank 54
J.	fill in the blank 56	fill in the blank 57
	fill in the blank 59	fill in the blank 60
	fill in the blank 62	fill in the blank 63
	fill in the blank 65	fill in the blank 66
K.	fill in the blank 68	fill in the blank 69
	fill in the blank 71	fill in the blank 72

The following data summarize the operations during the year.
A. Purchase of raw materials on account.
$3,000
B. Raw materials used by Job 1.
$450
C. Raw materials used as indirect materials.
$50
D. Direct labor for Job 1.
$300
E. Indirect labor incurred.
$50
F. Factory utilities incurred on account.
$650
G. Adjusting entry for factory depreciation.
$200
H. Manufacturing overhead applied as % of direct labor.
150%
I. Job 1 is transferred to finished goods.
J. Job 1 is sold.
$3,100
K. Manufacturing overhead is overapplied.
$100
Prepare a journal entry for each transaction. If an amount box does not require an entry, leave it blank.
А.
В.
С.
D.
B.

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