Question

Journalize the transactions. (Omit explanations.) E15.8 (LO 1, 2, 3, 4) Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. Prepare entries for manufacturing and nonmanufacturing costs. 1. Materials purchased on account $192,000, and factory wages incurred $87,300. 2. Materials requisitioned and factory labor used by job: Job Number A20 A21 A22 A23 General factory use Materials $ 35,240 42,920 36,100 39,270 4,470 $158,000 Factory Labor $18,000 22,000 15,000 25,000 7.300 $87,300 3. Manufacturing overhead costs incurred on account $49,500. 4. Depreciation on factory equipment $14,550. 5. Depreciation on the company's office building was $14,300. 6. Manufacturing overhead rate is 90% of direct labor cost. 7. Jobs completed during the quarter: A20, A21, and A23.

Answer 1

No.	Accounts Tittle and Explanation	Debit	Credit
1	Raw Materials Inventory	$192,000
	Accounts Payable		$192,000
	(To record materials purchases)
	Factory Payroll	$87,300
	Wages Payable		$87,300
	(To record factory wages)
2	Work in Process Inventory	$153,530
	Factory Overhead	$4,470
	Raw Materials Inventory		$158,000
	(To record materials put into production)
	Work in Process Inventory	$80,000
	Factory Overhead	$7,300
	Factory Payroll		$87,300
	(To record labor put into production)
3	Factory Overhead	$49,500
	Accounts Payable		$49,500
4	Factory Overhead	$14,550
	Accumulated Depreciation		$14,550
5	General and Administrative Expense	$14,300
	Accumulated Depreciation		$14,300
6	Work in Process Inventory ($80,000 x 90%)	$72,000
	Factory Overhead		$72,000
7	Finished Goods Inventory	$240,930
	Work in Process Inventory		$240,930