Chapter 4, Problem 13PB

The Following events occurred during March for Ajax Company. Prepare a journal entry for each transaction.

1. Materials were purchased on account for $5,429.
2. Materials were requisitioned to begin work on Job C15 In the amount of $2,500.
3. Direct labor expense for job C15 was $4,250.
4. Actual overhead was incurred on account for $5,385.
5. Factory overhead was charged w Job C15 at the rate of 200% direct labor.
6. Job C15 was transferred to finished goods at $15,250.
7. Job C15 was sold on account for $28,000.