Question

Photo 2&3are the chart accounts listed in description box and label debit or credit only need to more journal entries after # 8

Instructions Munson Co. uses a job order cost system. The following data summarize the operations related to production for y July 1 Materials purchased on count $225.750. 2 Materials requisitioned. 5217.000, of which 317.600 was for general factory use 31 Factory labor used. 5680.000, of which $72,300 was indirect 31 Other costs incurred on account for factory overhead. $330.000 selling expenses. 5180.000, and administrative expenses. $120.000 31 Prepaid expenses expired for factory overhead were 527.500 for seling expenses. 58.100; and for administrative expenses. 55.250 31 Decreciation of office building was 544.500 of office equipment. $16.800 and of factory guipment $55.100 31 Factory overhead coats led to jobs. 548.000 31 Jobs completed. 51.140.000 31 Cost of goods sold 31.120.000 Required a wooing of annour area

Answer 1

Solution: Date 1 Jul 1. 21 3 Jul 2. 5 6 Jul 31. 9 Jul 31 10 11 13 Jul 31. Description Debit Credit Materials 225750 Accounts Payable 225750 Work in Process 200000 Factory Overhead 17600 Materials 217600 Work in Process 607700 Factory Overhead 72300 Wages Payable 680000 Factory Overhead 330000 Selling Expenses 180000 Administrative Expenses 126000 Accounts Payable 636000 Factory Overhead 27500 Selling Expenses 8100 Administrative Expenses 5250 Prepaid Expenses 40850 Depreciation Expense-€"Office Building 44500 Depreciation Expense-€"Office Equipment 16800 Factory Overhead 55100 Accumulated Depreciationâ€" Fixed Assets 116400 Work in Process 548000 Factory Overhead 548000 Finished Goods 1140000 Work in Process 1140000 Cost of Goods Sold 1128000 Finished Goods 1128000 15 16 17 Jul 31. 18 19 20 21 Jul 31. 22 23 Jul 31. 24 25 Jul 31. 26