Do It! Review 20-02 Wildhorse Company is working on two job orders. The job cost sheets...
Do It! Review 20-02
Wildhorse Company is working on two job orders. The job cost sheets show the following.
|
Job 201 |
Job 202 |
|||
| Direct materials | $7,200 | $8,850 | ||
| Direct labor | 4,250 | 8,150 | ||
| Manufacturing overhead | 5,200 | 9,900 |
Prepare the three summary entries to record the assignment of costs
to Work in Process from the data on the job cost sheets.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually.)
|
No. |
Account Titles and Explanation |
Debit |
Credit |
|
(a) |
|
|
|
|
|
|
|
|
|
(To assign materials to jobs) |
|||
|
(b) |
|
|
|
|
|
|
|
|
|
(To assign labor to jobs) |
|||
|
(c) |
|
|
|
|
|
|
|
|
|
(To assign overhead to jobs) |
Homework Answers
| No | Account | Debit | Credit |
| A | Work in Process Inventory | 16050 | |
| Raw materials inventory | 16050 | ||
| (7200+8850) | |||
| B | Work in Process Inventory | 12400 | |
| Factory labor | 12400 | ||
| (4250+8150) | |||
| C | Work in Process Inventory | 15100 | |
| Manufacturing overhead | 15100 | ||
| (5200+9900) |
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Do It! Review 20-02
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