Chapter 19, Problem 4E

To determine

Product Cost:

The cost incurred on the production of a particular job or product is called product cost. The cost in production of a product usually involves raw material used, direct labor used and manufacturing overhead applied. It is recorded by debiting the work in process account for all the cost and crediting the raw material inventory account, wages payable account and manufacturing overhead.

To determine:

Journalizing the following events

1. Raw Materials purchased.

2. Direct Materials used in production.

3. Direct labor used in production.

4. Applied overhead.