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The following information relates to the manufacturing operations of O’Shaughnessy Mfe c during the month of March. The company uses job order costing. a. Purchases of direct materials during the month amount to $59,700. (All purchases were made on account.) b. Materials requisitions issued by the Production Department during the month total $56,200. C. Time cards of direct workers show 2,000 hours worked on various jobs during the month, for a total direct labor cost of $30,000. d. Direct workers were paid $26,300 in March. e. Actual overhead costs for the month amount to $34,900 (for simplicity, you may crealt Accounts Payable). f. Overhead is applied to jobs at a rate of $18 per direct labor hour. g. Jobs with total accumulated costs of $116,000 were completed during the month. h. During March, units costing $128,000 were sold for $210.000. (All sales were made account.) Instructions Prepare general journal entries to summarize each of these transac ledger accounts. v's general

The following information relates to the manufacturing operations of O’Shaughnessy Mfe c during the month of March. The company uses job order costing. a. Purchases of direct materials during the month amount to $59,700. (All purchases were made on account.) b. Materials requisitions issued by the Production Department during the month total $56,200. C. Time cards of direct workers show 2,000 hours worked on various jobs during the month, for a total direct labor cost of $30,000. d. Direct workers were paid $26,300 in March. e. Actual overhead costs for the month amount to $34,900 (for simplicity, you may crealt Accounts Payable). f. Overhead is applied to jobs at a rate of $18 per direct labor hour. g. Jobs with total accumulated costs of $116,000 were completed during the month. h. During March, units costing $128,000 were sold for $210.000. (All sales were made account.) Instructions Prepare general journal entries to summarize each of these transac ledger accounts. v's general

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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17.2A
The account. of $50,000. Show the related cost of goods sold in a separate journal entry. The following information relates to the manufacturing operations of O'Shaughnessy Mfe c. during the month of March. The company uses job order costing. a. Purchases of direct materials during the month amount to $59,700. (All purchases were mede on account.) b. Materials requisitions issued by the Production Department during the month total $56,200. Time cards of direct workers show 2,000 hours worked on various jobs during the month, for a total direct labor cost of $30,000. c. d. Direct workers were paid $26,300 in March. Actual overhead costs for the month amount to $34,900 (for simplicity, you may credit Accounts Payable). f. Overhead is applied to jobs at a rate of $18 per direct labor hour. g. Jobs with total accumulated costs of $116,000 were completed during the month. h. During March, units costing $128,000 were sold for $210,000. (All sales were made account.) e. Instructions ledger accounts. 3. The cash sale of 80 percent of the at a total sales price
Transcribed Image Text:The account. of $50,000. Show the related cost of goods sold in a separate journal entry. The following information relates to the manufacturing operations of O'Shaughnessy Mfe c. during the month of March. The company uses job order costing. a. Purchases of direct materials during the month amount to $59,700. (All purchases were mede on account.) b. Materials requisitions issued by the Production Department during the month total $56,200. Time cards of direct workers show 2,000 hours worked on various jobs during the month, for a total direct labor cost of $30,000. c. d. Direct workers were paid $26,300 in March. Actual overhead costs for the month amount to $34,900 (for simplicity, you may credit Accounts Payable). f. Overhead is applied to jobs at a rate of $18 per direct labor hour. g. Jobs with total accumulated costs of $116,000 were completed during the month. h. During March, units costing $128,000 were sold for $210,000. (All sales were made account.) e. Instructions ledger accounts. 3. The cash sale of 80 percent of the at a total sales price
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