Question

9 Prepare general journal entires to record the following production activites for oaks Manufacturing. A purchased 82,00 of raw materials on credit.

B used 63,500 of direct materials in production.

C used 12,800 of indirect materials.

D Used 93,900 of direcct labor in product placement.

E Used 11,200 of indirect labor

F incured overhead costs of 79,000 ( paid in cash)

G applied overhead at 110% of direct labor which are 93,00

H transfered competed products with a cost of 258,200 to finished goods inventory.

I sold 602,000 of the product on credit. Cost is 271,000

Answer 1

DATE	PARTICULARS	DEBIT ( in$)	CREDIT (in$0
a.	Raw Material Inventory	82,000
	Accounts Payable		82,000
	(to record purchase of raw material on credit)
b	Work in Process Inventory	63,500
	Raw Material Inventory		63,500
	(to record usage of direct material production)
c	Factory Overhead	12,800
	Raw Material Inventory		12,800
	(to record usage of indirect material)
d	Work in Process Inventory	93,900
	Factory Payroll Payable		93,900
	(to record usage of direct labor in production department)
e	Factory Overhead	11,200
	Factory Payroll Payable		11,200
	(to record usage of indirect labor)
f	Factory Overhead	79,000
	Cash		79,000
	(to record payment of overhead costs in cash)
g	Work in Process Inventory	103,290
	Factory Overhead		103,290
	(to record overhead of direct labor)
h	Finished Goods Inventory	258,200
	Work in Process Inventory		258,200
	(transfered completed products to finished goods inventory)
i	Accounts Receivable	602,000
	Sales		602,000
	(to record sales transaction)
	Cost of Goods Sold	271,000
	Finished Goods Inventory		271,000
	( to record on sales transaction cost )

NOTE- It is assumed in a. and g. the value given is miswritten by one 0 less, just seeing by commas at there corrective place and from others value

ASSUMED VALUE OF a and g are 82,000 and 93,000 respectively.

hope you got the answer

Thankyou and all the best for future

PLEASE UPVOTE...