Warner Company purchases $ 50,000 of raw materials on account, and it incurs $ 60,000 of factory labor costs. Supporting records show that (a) the Assembly Department used $ 24,000 of the raw materials and $ 35,000 of the factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs. Journalize the assignment of overhead to the Assembly and Finishing Departments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Warner Company purchases $ 50,000 of raw materials on account, and it incurs $ 60,000 of factory labor costs. Supporting records show that (a) the Assembly Department used $ 24,000 of the raw materials and $ 35,000 of the factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs. Journalize the assignment of overhead to the Assembly and Finishing Departments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Warner Company purchases $ 50,000 of raw materials on account, and it incurs $ 60,000 of
Journalize the assignment of overhead to the Assembly and Finishing Departments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
|
Date
|
Account Titles
|
Debit
|
Credit
|
|---|---|---|---|
|
Mar.31
|
enter an account title for the
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title for the journal entry on March 31
|
enter a debit amount
|
enter a credit amount
|
|
|
enter an account title for the journal entry on March 31
|
enter a debit amount
|
enter a credit amount
|
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