Transaction | General journal | Debit | Credit |
a | Raw Material Inventory | 500000 | |
Accounts Payable | 500000 | ||
b | Work in process inventory | 455000 | |
Raw Material Inventory | 455000 | ||
c | Work in process inventory | 340000 | |
Cash | 340000 | ||
d | Factory Overhead | 23000 | |
Cash | 23000 | ||
e | Work in process inventory | 170000 | |
Factory Overhead | 170000 | ||
f (1) | Factory Overhead | 50000 | |
Raw Material Inventory | 50000 | ||
f (2) | Factory Overhead | 19000 | |
Cash | 19000 | ||
f (3) | Factory Overhead | 51000 | |
Accumulated depreciation - Factory equipment | 51000 | ||
f (4) | Factory Overhead | 32000 | |
Cash | 32000 | ||
g | Finished goods inventory | 828500 | |
Work in process inventory | 828500 | ||
h | Cost of goods sold | 321500 | |
Finished goods inventory | 321500 | ||
i | Cash | 635000 | |
Sales | 635000 | ||
j | Cost of goods sold | 5000 | |
Factory Overhead | 5000 |
g = 507000 + 321500 = 828500
j
Overhead applied to jobs | 170000 | |
Overhead incurred | ||
Indirect material | 50000 | |
Indirect labor | 23000 | |
Factory Rent | 32000 | |
Factory utilities | 19000 | |
Factory Equip. Depreciation | 51000 | 175000 |
Underapplied overhead | 5000 |
Required information The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory...
9 [The following information applies to the questions displayed below) Marcelino Co.'s March 31 inventory of raw materials is $86,000, Raw materials purchases in April are $520,000, and factory payroll cost in April is $380,000. Overhead costs incurred in April are: indirect materials $53,000; indirect labor, $21000; factory rent, $39,000; factory utilities, $22,000, and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of the...
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $363,000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $19,000, and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of...
Required information The following information applies to the questions displayed below) Marcelino Co.'s March 31 Inventory of raw materials is $88,000. Raw materials purchases in April are $520,000, and factory payroll cost in April is $389,000. Overhead costs incurred in April are: indirect materials, $51,000; Indirect labor, $27,000; factory rent, $39,000; factory utilities, $20,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 cash in April. Costs of...
Required information The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $530,000, and factory payroll cost in April is $388,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor, $30,000; factory rent, $31,000; factory utilities, $19,000, and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $630,000 cash in April. Costs of...
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $82,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $387,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $29,000; factory rent, $36,000; factory utilities, $19,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $655,000 cash in April. Costs of...
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $59,000; indirect labor, $28,000; factory rent, $33,000; factory utilities, $21,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of...
[The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $87,000. Raw materials purchases in April are $520,000, and factory payroll cost in April is $365,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor, $26,000; factory rent, $39,000; factory utilities, $21,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $675,000 cash in April. Costs of the three...
Required Information The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $90,000. Raw materials purchases in April are $520,000, and factory payroll cost in April is $386.000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor, $27.000; factory rent, $35.000; factory utilities, $20,000; and factory equipment depreciation, $54,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $665,000 cash in April. Costs of...
Required information (The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $86,000. Raw materials purchases in April are $540,000, and factory payroll cost in April is $378,000. Overhead costs incurred in April are: indirect materials, $59,000; indirect labor, $24,000; factory rent, $32,000; factory utilities, $22,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $670,000 cash in April. Costs of...
Required information [The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $83,000. Raw materials purchases in April are $590,000, and factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $28,000; factory rent, $30,000; factory utilities, $24,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $690,000 cash in April. Costs of...