The selected data that follow relate to the Berger Furniture Company. Assume purchases and sales are...
The selected data that follow relate to the Berger Furniture
Company. Assume purchases and sales are made with cash.
a. Purchased materials for $160,000.
b. Requisitioned $79,000 of materials for use, of which $10,000 were considered indirect materials.
c. Paid assembly workers $170,000, supervisors $10,000 and sales people $15,000.
d. Recorded $80,000 for depreciation of production equipment.
e. Manufacturing overhead applied $90,000.
f. During the year, products costing $310,000 were completed.
g. Products costing $306,000 were sold for $455,000.
Prepare journal entries (or T accounts) to record the preceding
transactions and events.
Homework Answers
Journal entry
| No | general journal | Debit | Credit |
| a | Raw material | 160000 | |
| Cash | 160000 | ||
| b | Work in process | 69000 | |
| Manufacturing overhead | 10000 | ||
| Raw material | 79000 | ||
| c | Work in process | 170000 | |
| Manufacturing overhead | 10000 | ||
| Sales salaries | 15000 | ||
| Cash | 195000 | ||
| d | Manufacturing overhead | 80000 | |
| Accumulated depreciation-equipment | 80000 | ||
| e | Work in process | 90000 | |
| Manufacturing overhead | 90000 | ||
| f | Finished goods | 310000 | |
| Work in process | 310000 | ||
| g | Cost of goods sold | 306000 | |
| Finished goods | 306000 | ||
| Cash | 455000 | ||
| Sales revenue | 455000 | ||
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