Date | General Journal | Debit | Credit |
a | Raw Materials inventory | 209000 | |
Accounts payable | 209000 | ||
b | Work In process inventory | 152000 | |
Manufacturing overhead | 38000 | ||
Raw Materials inventory | 190000 | ||
c | Work in process | 49000 | |
Manufacturing overhead | 21000 | ||
Salaries & wages payable | 70000 | ||
d | Manufacturing overhead | 105000 | |
Accumulated depreciation | 105000 | ||
e | Manufacturing overhead | 131000 | |
Accounts payable | 131000 | ||
f | Work In process | 608000 | |
Manufacturing overhead | 608000 | ||
(76000)*$8.00 | |||
g | Finished goods inventory | 514000 | |
Work In process | 514000 | ||
h | Accounts receivable | 561720 | |
sales | 561720 | ||
(453000*124%) | |||
Cost of goods sold | 453000 | ||
finished goods inventory | 453000 | ||
Manufacturing overhead | |||
b | 38000 | f | 608000 |
c | 21000 | ||
d | 105000 | ||
e | 131000 | ||
end bal | 313000 | ||
Work in process | |||
Beginning balance | 35000 | g | 514000 |
b | 152000 | ||
c | 49000 | ||
f | 608000 | ||
end bal | 330000 |
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw...
The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materials purchased on account. $210.000. b. Raw materials used in production, $191,000 ($152,800 direct materials and $38,200 indirect materials) Accrued direct labor cost of $48,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $131,000. The company applies manufacturing overhead cost to production using a predetermined rate of $7 per machine-hour. A...
The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materials purchased on account, $209,000 b. Raw materials used in production. $191,000 ($152.800 direct materials and $38.200 indirect materials) c. Accrued direct labor cost of $48.000 and indirect labor cost of $21.000 d. Depreciation recorded on factory equipment, $104,000. e. Other manufacturing overhead costs accrued during October $130.000 The company applies manufacturing overhead cost to production using a predetermined rate of $6 per machine...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $210,000. b. Raw materials used in production, $189,000 ($151,200 direct materials and $37,800 indirect materials). C. Accrued direct labor cost of $50,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $106,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $10 per...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account. $211.000. b. Raw materials used in production, $191,000 ($152,800 direct materials and $38,200 indirect materials). C. Accrued direct labor cost of $48,000 and indirect labor cost of $20,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $129,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $9 per...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $211,000. b. Raw materials used in production, $192,000 ($153,600 direct materials and $38,400 indirect materials). C. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $106,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $7 per...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: Raw materials purchased on account, $209,000. Raw materials used in production, $192,000 ($153,600 direct materials and $38,400 indirect materials). Accrued direct labor cost of $48,000 and indirect labor cost of $20,000. Depreciation recorded on factory equipment, $105,000. Other manufacturing overhead costs accrued during October, $130,000. The company applies manufacturing overhead cost to production using a predetermined rate of $7 per machine-hour. A total of 76,200 machine-hours...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: Raw materials purchased on account, $209,000. Raw materials used in production, $190,000 ($152,000 direct materials and $38,000 indirect materials). Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. Depreciation recorded on factory equipment, $106,000. Other manufacturing overhead costs accrued during October, $129,000. The company applies manufacturing overhead cost to production using a predetermined rate of $6 per machine-hour. A total of 76,200 machine-hours...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: Raw materials purchased on account, $210,000. Raw materials used in production, $189,000 ($151,200 direct materials and $37,800 indirect materials). Accrued direct labor cost of $50,000 and indirect labor cost of $21,000. Depreciation recorded on factory equipment, $106,000. Other manufacturing overhead costs accrued during October, $130,000. The company applies manufacturing overhead cost to production using a predetermined rate of $7 per machine-hour. A total of 76,300 machine-hours...
he Polaris Company uses a job-order costing system. The following transactions occurred in October: The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materials purchased on account, $209,000. b. Raw materials used in production, $189,000 ($151,200 direct materials and $37,800 indirect materials) c. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000 d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $131,000. f. The...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $209,000. b. Raw materials used in production, $192,000 ($153,600 direct materials and $38,400 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $9 per...