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Record the journal entries for the following transactions: 1. March 10: 400 units of raw materials...
Calculato Record the journal entries for the following transactions 1. March 10: 400 units of raw...
Calculato Record the journal entries for the following transactions 1. March 10: 400 units of raw materials were purchased on account at $5.50 per unit 2. March 15: 300 units of raw materials were requisitioned at $6.00 per unit for production, Job 872. 3. March 25: 200 units of raw materials were requisitioned at $5.50 per unit for production, Job 879 March 10 ?? March 15 March 25
Record the journal entries for the following transactions: 1. March 10: 500 units of raw materials...
Record the journal entries for the following transactions: 1. March 10: 500 units of raw materials were purchased on account at $5.50 per unit. 2. March 15: 400 units of raw materials were requisitioned at $6.00 per unit for production, Job 872. 3. March 25: 300 units of raw materials were requisitioned at $5.50 per unit for production, Job 879. March 10 March 15 March 25
Journalize the entries to record the following transactions: 1. Mar. 10: 500 units of raw materials...
Journalize the entries to record the following transactions: 1. Mar. 10: 500 units of raw materials were purchased on account at $6.50 per unit. 2. Mar. 15: 400 units of raw materials were requisitioned at $7.00 per unit for production, Job 872. 3. Mar. 25: 300 units of raw materials were requisitioned at $6.50 per unit for production, Job 879. If an amount box does not require an entry, leave it blank. Mar. 10 Mar. 15 Mar. 25 The cost...
Prepare Journal Entries for 1. Raw materials were purchased on account: $236000 2. Raw materials were...
Prepare Journal Entries for
1. Raw materials were purchased on account: $236000
2. Raw materials were requisitioned for use in production:
$208,000 (85% direct and 15% indirect)
3. Record the costs that were incurred for employee
services.
4. Heat, power, and water costs were incurred in the factory:
$50,100.
5. Prepaid insurance expired during the year: $19,000 (80%
relates to factory operations, and 20% relates to selling and
administrative activities).
6. Advertising costs were incurred, $59,000.
7. Depreciation was recorded...
Job Costing Journal Entries Prepare journal entries to record the following transactions and events for September...
Job Costing Journal Entries Prepare journal entries to record the following transactions and events for September using a job order costing system. (a) Purchased raw materials on credit, $189.000. (b) Raw materials requisitioned: $62,000 direct and $40,000 indirect. (c) Factory payroll accrued $125,000, including $75,000 indirect labor, remainder was direct labor. (d) Paid other actual overhead costs totaling $58,500 with cash. (e) Applied overhead totaling $47.500. (f) Finished and transferred jobs totaling $277,800. (g) Jobs costing $189.800 were sold on...
Journal Entries, Job Costs The following transactions occurred during the month of April for Olakala Company:...
Journal Entries, Job Costs The following transactions occurred during the month of April for Olakala Company: Purchased materials costing $3,000 on account. Requisitioned materials totalling $1,700 for use in production: $500 for Job 443 and the remainder for Job 444. Recorded 50 hours of direct labour on Job 443 and 100 hours on Job 444 for the month. Direct labourers are paid at the rate of $8 per hour. Applied overhead using a plantwide rate of $7.50 per direct labour...
1. Prepare the journal entries to record the raw materials used in production and the direct...
1. Prepare the journal entries to record the raw materials used
in production and the direct labor cost incurred. (If no
entry is required for a transaction/event, select "No journal entry
required" in the first account field.)
2. Prepare the journal entry to record the overhead cost applied
to production. (If no entry is required for a
transaction/event, select "No journal entry required" in the first
account field.)
3. How many units were completed and transferred to finished
goods during...
Issuance of Materials On August 4, Jernigan Company purchased on account 760 units of raw materials...
Issuance of Materials On August 4, Jernigan Company purchased on account 760 units of raw materials at $22 per unit. During August, raw materials were requisitioned for production as follows: 289 unit for Job 40 at $18 per unit and 312 units for Job 42 at $22 per unit. Journalize the entry on August 4 to record the purchase. Aug. 4 Journalize the entry on August 31 to record the requisition from the materials storeroom. Aug. 31
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 requisitioned for use 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 incurred. Of this amount, $101,000 was for direct labor and the remainder was for indirect labor d. Additional manufacturing overhead costs of $175,000 were incurred. Required: Record...
record journal entries for the following transactions 23) Record journal entries for the following transactions. a)...
record journal entries for the following transactions
23) Record journal entries for the following transactions. a) Issued S8,000 of direct materials to production in the Carving Department. b) Manufacturing labor in the Carving Department amounted to $7,200. c) Allocate manufacturing labor to the appropriate accounts: 90% direct labor; 10% indirect labor. The pay rate for all direct labor is $20 per hour. d) Allocated manufactured overhead in the Carving Department at $15 direct labor per hour Transferred $8,000 of product...
Calculato Record the journal entries for the following transactions 1. March 10: 400 units of raw materials were purchased on account at $5.50 per unit 2. March 15: 300 units of raw materials were requisitioned at $6.00 per unit for production, Job 872. 3. March 25: 200 units of raw materials were requisitioned at $5.50 per unit for production, Job 879 March 10 ?? March 15 March 25
Record the journal entries for the following transactions: 1. March 10: 500 units of raw materials were purchased on account at $5.50 per unit. 2. March 15: 400 units of raw materials were requisitioned at $6.00 per unit for production, Job 872. 3. March 25: 300 units of raw materials were requisitioned at $5.50 per unit for production, Job 879. March 10 March 15 March 25
Journalize the entries to record the following transactions: 1. Mar. 10: 500 units of raw materials were purchased on account at $6.50 per unit. 2. Mar. 15: 400 units of raw materials were requisitioned at $7.00 per unit for production, Job 872. 3. Mar. 25: 300 units of raw materials were requisitioned at $6.50 per unit for production, Job 879. If an amount box does not require an entry, leave it blank. Mar. 10 Mar. 15 Mar. 25 The cost...
Prepare Journal Entries for
1. Raw materials were purchased on account: $236000
2. Raw materials were requisitioned for use in production:
$208,000 (85% direct and 15% indirect)
3. Record the costs that were incurred for employee
services.
4. Heat, power, and water costs were incurred in the factory:
$50,100.
5. Prepaid insurance expired during the year: $19,000 (80%
relates to factory operations, and 20% relates to selling and
administrative activities).
6. Advertising costs were incurred, $59,000.
7. Depreciation was recorded...
Job Costing Journal Entries Prepare journal entries to record the following transactions and events for September using a job order costing system. (a) Purchased raw materials on credit, $189.000. (b) Raw materials requisitioned: $62,000 direct and $40,000 indirect. (c) Factory payroll accrued $125,000, including $75,000 indirect labor, remainder was direct labor. (d) Paid other actual overhead costs totaling $58,500 with cash. (e) Applied overhead totaling $47.500. (f) Finished and transferred jobs totaling $277,800. (g) Jobs costing $189.800 were sold on...
1. Prepare the journal entries to record the raw materials used
in production and the direct labor cost incurred. (If no
entry is required for a transaction/event, select "No journal entry
required" in the first account field.)
2. Prepare the journal entry to record the overhead cost applied
to production. (If no entry is required for a
transaction/event, select "No journal entry required" in the first
account field.)
3. How many units were completed and transferred to finished
goods during...
Issuance of Materials On August 4, Jernigan Company purchased on account 760 units of raw materials at $22 per unit. During August, raw materials were requisitioned for production as follows: 289 unit for Job 40 at $18 per unit and 312 units for Job 42 at $22 per unit. Journalize the entry on August 4 to record the purchase. Aug. 4 Journalize the entry on August 31 to record the requisition from the materials storeroom. Aug. 31
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 requisitioned for use 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 incurred. Of this amount, $101,000 was for direct labor and the remainder was for indirect labor d. Additional manufacturing overhead costs of $175,000 were incurred. Required: Record...
record journal entries for the following transactions
23) Record journal entries for the following transactions. a) Issued S8,000 of direct materials to production in the Carving Department. b) Manufacturing labor in the Carving Department amounted to $7,200. c) Allocate manufacturing labor to the appropriate accounts: 90% direct labor; 10% indirect labor. The pay rate for all direct labor is $20 per hour. d) Allocated manufactured overhead in the Carving Department at $15 direct labor per hour Transferred $8,000 of product...
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