FUND.ACCT.PRIN.(LOOSELEAF)-W/ACCESS
FUND.ACCT.PRIN.(LOOSELEAF)-W/ACCESS
24th Edition
ISBN: 9781260260724
Author: Wild
Publisher: MCG
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Chapter 7, Problem 4E

Exercise 7-4 Identifying journal of entry P1 P2 P3 P4

Refer to Exercise 7-3 and for each of the transactions identify the journal in which it would be recorded. Assume the company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal.

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Knight Company reports the following costs and expenses in May. Factory utilities $ 17,200 Direct labor $ 70,400 Depreciation on factory equipment 14,450 Sales salaries 50,700 Depreciation on delivery trucks Property taxes on 4,100 3,000 factory building Repairs to office Indirect factory labor 50,500 1,400 equipment Indirect materials 81,600 Factory repairs 2,230 Direct materials used 1,39,700 Advertising 15,100 Factory manager's salary 8,700 Office supplies used 3,140 From the information: a. Determine the total amount of manufacturing overhead. b. Determine the total amount of product costs. c. Determine the total amount of period costs.
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