Starr Company reports the following information for
August.
Raw materials purchased on account | $ | 80,600 | |
Direct materials used in production | $ | 50,200 | |
Factory wages earned (direct labor) | $ | 21,050 | |
Overhead rate | 135 | % 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.
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Transaction | Accounts title | Debit | Credit |
1 | Raw Material Inventory | $ 80,600.00 | |
Accounts Payable | $ 80,600.00 | ||
(material purchased on account) | |||
2 | Work In process Inventory | $ 50,200.00 | |
raw material Inventory | $ 50,200.00 | ||
(material used) | |||
3 | Work In process Inventory | $ 21,050.00 | |
Direct labor cost | $ 21,050.00 | ||
(Labor cost used) | |||
4 | Work In process Inventory | $ 28,417.50 | |
Manufacturing Overhead | $ 28,417.50 | ||
(Overheads applied = 21050 x 135%) |
Starr Company reports the following information for August. Raw materials purchased on account $ 80,600 Direct...
Starr Company reports the following information for August. Raw materials purchased on account Direct materials used in production Factory wages earned (direct labor) Overhead rate $ 85,800 $51,400 $18,500 135 % of direct labor cost ed Prepare journal entries to record the following events. ok at 1. Raw materials purchased. 2. Direct materials used in production. 3. Direct labor used in production. 4. Applied overhead. nt ences
Starr Company reports the following information for August. Raw materials purchased on account Direct materials used in production Factory wages earned (direct labor) Overhead rate $76,200 $48,000 $15,350 120% 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.
Starr Company reports the following information for August. Raw materials purchased on account $ 84,600 Direct materials used in production $ 50,000 Factory wages earned (direct labor) $ 15,650 Overhead rate 135 % of direct labor cost Prepare journal entries to record the following events. Raw materials purchased. Direct materials used in production. Direct labor used in production. Applied overhead. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record raw materials purchased on account, Record the entry...
Starr Company reports the following information for August. Raw materials purchased on account Direct materials used in production Factory wages earned (direct labor) Overhead rate $83,400 $49,600 $20,450 130 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 Note: Enter debits...
Starr Company reports the following information for August. Raw materials purchased on account Direct materials used in production Factory wages earned (direct labor) Overhead rate $80, 200 $49,800 $15,800 125% 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 < A B C D Record raw materials purchased on account. Note: Enter...
Starr Company reports the following information for August. Raw materials purchased on account Direct materials used in production Direct labor incurred, but not yet paid Overhead rate $76,200 $48,000 $15,350 120% 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, but not yet paid. 4. Applied overhead.
Exercise 15-4 Recording product costs LO P1, P2, P3 Starr Company reports the following information for August. Raw materials purchased on account Direct materials used in production Factory wages earned (direct labor) Overhead rate $81,000 $48,400 $16,400 135 % 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. 2. Applied overhead. View transaction list Journal entry worksheet < A B C...
Starr Company reports the following information for August. Raw materials purchased on account $77,400 Direct materials used in production $50,600 Factory wages earned (direct labor) $20,900 Overhead rate 120% of direct labor cost Prepare journal entries to record the following events. 1. Raw materials purchased. Direct materials used in production. 3. Direct labor used in production. 4. Applied overhead. Journal entry worksheet A B C D Record raw materials purchased on account. Note: Enter debits before credits Transaction General Journal...
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....
Exercise 15-4 Recording product costs LO P1, P2, P3 Starr Company reports the following information for August Raw materials purchased on account Direet materials used in production Factory wages earned direct labor) Overhead rate $89,000 $53,800 $21,050 125 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 « А в со Record...