Homework Answers
| Transaction | General Journal | Debit | Credit |
| 1 | Raw material Inventory | $ 1,11,000 | |
| Accounts payable | $ 1,11,000 | ||
| 2 | Work - in - process - Job 101 | $ 47,500 | |
| Work - in - process - Job 102 | $ 38,000 | ||
| Manufacturing overhead | $ 11,500 | ||
| Raw material Inventory | $ 97,000 | ||
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Check my work Fairfield Company's raw materials inventory transactions for the most recent month are summarized...
Fairfield Company's raw materials inventory transactions for the most recent month are summarized here: $ 11,400...
Fairfield Company's raw materials inventory transactions for the most recent month are summarized here: $ 11,400 116,000 Beginning raw materials Purchases of raw materials Raw materials issued Materials requisition 1445 Materials requisition 1446 Materials requisition 1447 45,500 For Job 101 32,500 For Job 102 13,000 Used on multiple jobs 1. & 2. Prepare the journal entries for materials. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal...
Fairfield Company's raw materials inventory transactions for the most recent month are summarized here 113.000 Beginning...
Fairfield Company's raw materials inventory transactions for the most recent month are summarized here 113.000 Beginning raw materials Purchases of raw materials Ra materials issued Materials requisition 1445 Materials requisition 1446 Materials requisition 1447 46,000 For Job 101 33,500 For Job 102 14.000 Used on multiple jobs 1. & 2. Prepare the journal entries for materials. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet...
thise are the possible joirnal entries Fairfield Company's raw materials inventory transactions for the most recent...
thise
are the possible joirnal entries
Fairfield Company's raw materials inventory transactions for the most recent month are summarized here: $ 11,6ee 113.00 Beginning raw materials Purchases of raw materials Raw materials issued Materials requisition 1445 Materials requisition 1446 Materials requisition 1447 46,009 For Job 101 33,5ee For Job 102 14,000 Used on multiple jobs 1. & 2. Prepare the journal entries for materials. Of no entry is required for a transaction/event, select "No Journal Entry Required in the first...
Fairfield Company’s raw materials inventory transactions for the most recent month are summarized here: Beginning raw...
Fairfield Company’s raw materials inventory transactions for the most recent month are summarized here: Beginning raw materials $ 10,000 Purchases of raw materials 111,000 Raw materials issued Materials requisition 1445 48,500 For Job 101 Materials requisition 1446 31,000 For Job 102 Materials requisition 1447 11,500 Used on multiple jobs 1. & 2. Prepare the journal entries for materials. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1 record the purchase...
Fairfield Company's payroll costs for the most recent month are summarized here: Total Cost Item Description...
Fairfield Company's payroll costs for the most recent month are summarized here: Total Cost Item Description Hourly labor wages 790 hours @ $16 per hour 160 hours for Job 101 = 270 hours for Job 102 - 360 hours for Job 103 = Factory supervision Production engineer Factory janitorial work Selling, general, and administrative salaries Total payroll costs $2,560 4,320 5,760_$12,640 4,250 6,300 1,300 9,900 $34,390 1. & 2. Prepare the journal entries for payroll and to apply manufacturing overhead...
Larned Corporation recorded the following transactions for the just completed month. a $71,000 in raw materials...
Larned Corporation recorded the following transactions for the just completed month. a $71,000 in raw materials were purchased on account b. $69,000 in raw materials were used in production. Of this amount, $56,000 was for direct materials and the remainder was for indirect materials. c Total labor wages of $127,000 were paid in cash. Of this amount, $102,600 was for direct labor and 32 the remainder was for indirect labor d. Depreciation of $195,000 was incurred on factory equipment. Required:...
Larned Corporation recorded the following transactions for the just completed month. a. $89,000 in raw materials...
Larned Corporation recorded the following transactions for the just completed month. a. $89,000 in raw materials were purchased on account. b. $87,000 in raw materials were used in production. Of this amount, $79,000 was for direct materials and the remainder was for indirect materials c. Total labor wages of $111,500 were paid in cash. Of this amount, $104,100 was for direct labor and the remainder was for indirect labor. d. Depreciation of $197,000 was incurred on factory equipment. Required: Record...
Larned Corporation recorded the following transactions for the just completed month. a. $83,000 in raw materials...
Larned Corporation recorded the following transactions for the just completed month. a. $83,000 in raw materials were purchased on account. b. $81,000 in raw materials were used in production. Of this amount, $72,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $112,500 were paid in cash. Of this amount, $101,400 was for direct labor and the remainder was for indirect labor. d. Depreciation of $195,000 was incurred on factory equipment. Required: Record...
Starr Company reports the following information for August. Raw materials purchased on account $76,200 Direct materials...
Starr Company reports the following information for
August.
Raw materials purchased on account $76,200
Direct materials used in production $48,000
Factory wages earned (direct labor) $15,350
Overhead rate 120 % of direct labor cost
Prepare journal entries to record the following events.
1. Raw materials purchased.
2. Direct materials used in production.
3. Direct labor used in production.
4. Applied overhead.
View transaction list Journal entry worksheet < ( 1 ) 2 3 4 Record raw materials purchased on account....
Lamed Corporation recorded the following transactions for the just completed month. a. $80,000 in raw materials...
Lamed Corporation recorded the following transactions for the just completed month. a. $80,000 in raw materials were purchased on account b. $71,000 in raw materials were used in production of this amount. $62.000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $112,000 were paid in cash. Of this amount, $101,000 was for direct labor and the remainder was for indirect labor. d. Depreciation of $175,000 was incurred on factory equipment. Required: Record...
Fairfield Company's raw materials inventory transactions for the most recent month are summarized here: $ 11,400 116,000 Beginning raw materials Purchases of raw materials Raw materials issued Materials requisition 1445 Materials requisition 1446 Materials requisition 1447 45,500 For Job 101 32,500 For Job 102 13,000 Used on multiple jobs 1. & 2. Prepare the journal entries for materials. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal...
Fairfield Company's raw materials inventory transactions for the most recent month are summarized here 113.000 Beginning raw materials Purchases of raw materials Ra materials issued Materials requisition 1445 Materials requisition 1446 Materials requisition 1447 46,000 For Job 101 33,500 For Job 102 14.000 Used on multiple jobs 1. & 2. Prepare the journal entries for materials. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet...
thise
are the possible joirnal entries
Fairfield Company's raw materials inventory transactions for the most recent month are summarized here: $ 11,6ee 113.00 Beginning raw materials Purchases of raw materials Raw materials issued Materials requisition 1445 Materials requisition 1446 Materials requisition 1447 46,009 For Job 101 33,5ee For Job 102 14,000 Used on multiple jobs 1. & 2. Prepare the journal entries for materials. Of no entry is required for a transaction/event, select "No Journal Entry Required in the first...
Fairfield Company's payroll costs for the most recent month are summarized here: Total Cost Item Description Hourly labor wages 790 hours @ $16 per hour 160 hours for Job 101 = 270 hours for Job 102 - 360 hours for Job 103 = Factory supervision Production engineer Factory janitorial work Selling, general, and administrative salaries Total payroll costs $2,560 4,320 5,760_$12,640 4,250 6,300 1,300 9,900 $34,390 1. & 2. Prepare the journal entries for payroll and to apply manufacturing overhead...
Larned Corporation recorded the following transactions for the just completed month. a $71,000 in raw materials were purchased on account b. $69,000 in raw materials were used in production. Of this amount, $56,000 was for direct materials and the remainder was for indirect materials. c Total labor wages of $127,000 were paid in cash. Of this amount, $102,600 was for direct labor and 32 the remainder was for indirect labor d. Depreciation of $195,000 was incurred on factory equipment. Required:...
Larned Corporation recorded the following transactions for the just completed month. a. $89,000 in raw materials were purchased on account. b. $87,000 in raw materials were used in production. Of this amount, $79,000 was for direct materials and the remainder was for indirect materials c. Total labor wages of $111,500 were paid in cash. Of this amount, $104,100 was for direct labor and the remainder was for indirect labor. d. Depreciation of $197,000 was incurred on factory equipment. Required: Record...
Larned Corporation recorded the following transactions for the just completed month. a. $83,000 in raw materials were purchased on account. b. $81,000 in raw materials were used in production. Of this amount, $72,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $112,500 were paid in cash. Of this amount, $101,400 was for direct labor and the remainder was for indirect labor. d. Depreciation of $195,000 was incurred on factory equipment. Required: Record...
Starr Company reports the following information for
August.
Raw materials purchased on account $76,200
Direct materials used in production $48,000
Factory wages earned (direct labor) $15,350
Overhead rate 120 % of direct labor cost
Prepare journal entries to record the following events.
1. Raw materials purchased.
2. Direct materials used in production.
3. Direct labor used in production.
4. Applied overhead.
View transaction list Journal entry worksheet < ( 1 ) 2 3 4 Record raw materials purchased on account....
Lamed Corporation recorded the following transactions for the just completed month. a. $80,000 in raw materials were purchased on account b. $71,000 in raw materials were used in production of this amount. $62.000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $112,000 were paid in cash. Of this amount, $101,000 was for direct labor and the remainder was for indirect labor. d. Depreciation of $175,000 was incurred on factory equipment. Required: Record...
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