Question

record the transaction

Coronado Corporation incurred the following transactions, 1. 2. 3 4. Purchased raw materials on account $49,700. Raw Materials of $41,700 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,100 was classified as indirect materials. Factory labor costs incurred were $61,900. Time tickets indicated that $55,400 was direct labor and $6,500 was indirect labor Manufacturing overhead costs incurred on account were $83,700. Manufacturing overhead was applied at the rate of 160% of direct labor cost. Goods costing $93,500 were completed and transferred to finished goods, Finished goods costing $85,100 to manufacture were sold. 5. 6. 7. 8.

Answer 1

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Coronado	Raw materials	Factory labor	Manufacturing overhead	Finished Goods	Cost of goods sold
1	49,700.00
2	(33,600.00)
2	(8,100.00)		8,100.00
3		61,900.00
4		(55,400.00)
4		(6,500.00)	6,500.00
5			83,700.00
6			(88,640.00)
7				93,500.00
8				(85,100.00)	85,100.00