Question

lacul Assignment Gradebook ORION Downloadable eTextbook 2001/ 2101) ignment CALCULATOR s FULL SCREEN PRINTER VERSION 4 BACK NEXT. Brief Exercise 15-02 During January, its first month of operations, Coronado Company accumulated the following manufacturing costs: raw materials $5,400 on account, factory labor $6,100 of which $5,900 relates to factory wages payable and $200 relates to payroll taxes payable, and factory utilities payable $2,500 Prepare separate journal entries for each type of manufacturing cost. (Credit account titles are automatically indented when amount is entered. Do not indent njanually.) Date Account Titles and Explanation Debit Credit Jan. 31 (To record purchase of raw materials on account) y 31 (To record factory labor costs) 31 (To record entry for utilities payable) Click if you would like to Show Work for this question: Open Show Work Version 4.24.20.1 ivacy Policy | 2000-2020 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc.

Answer 1

Required journal entries are:

Date	Account titles and explanation	Debit	Credit
Jan 31	Raw materials inventory	$5400
	Accounts payable		$5400
	(for raw materials purchase on account)
Jan 31	Direct labor expense	$6100
	Wages payable		$5900
	Payroll taxes payable		$200
	(for factory labor costs incurred)
Jan 31	Utilities expense	$2500
	Utilities payable		$2500
	(for utilities payable)