Solution
No. | Account Titles and explanation | Dr | Cr |
1 | Purchases/ Raw material inventory | $55,000 | |
Account payable | $55,000 | ||
2 | Work in progress | $28,300 | |
Manufacturing overhead | $8,100 | ||
Raw material inventory | $36,400 | ||
3 | Factory labour | $61,000 | |
Factory wages payable | $51,600 | ||
Employer payroll taxes | $9,400 | ||
4 | Manufacuring overhead | $54,300 | |
Work in progress inventory | $6,700 | ||
Factory labour | &61000 | ||
5 | Manufacturing overhead | $82,100 | |
Account payable | $82,100 | ||
6 | Depreciation | ||
Accoumulated depriciation | $8,400 | ||
$8,400 |
7 | Work in progress | $97,600 | |
manufacturing overhead | $97,600 | ||
8 | Finished goods | 90200 | |
Workin in progress | 90200 | ||
9 | Account receivable | 108200 | |
Sales | 108200 | ||
COGS | |||
Finished inventory | 85000 | ||
85000 | |||
Crawford Corporation incurred the following transactions. 1. 2. 3. 4. 5. Purchased raw materials on account...
Exercise 15-7 Crawford Corporation incurred the following transactions 1. Purchased raw materials on account $55,000. 2. Raw Materials of $36,400 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,100 was classified as indirect materials. 3. Factory labor costs incurred were $61,000, of which $51,600 pertained to factory wages payable and $9,400 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,300 was direct labor and $6,700 was indirect labor. 5. Manufacturing overhead...
Crawford Corporation incurred the following transactions. 1. 2. 3. 4. Purchased raw materials on account $50,600. Raw Materials of $42,300 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,500 was classified as indirect materials. Factory labor costs incurred were $65,500, of which $50,900 pertained to factory wages payable and $14,600 pertained to employer payroll taxes payable. Time tickets indicated that $54,400 was direct labor and $11,100 was indirect labor. Manufacturing overhead costs incurred on...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $52,800. 2. Raw Materials of $45,500 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,600 was classified as indirect materials. 3. Factory labor costs incurred were $68,000, of which $51,500 pertained to factory wages payable and $16,500 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,100 was direct labor and $12,900 was indirect labor. 5. Manufacturing overhead costs incurred...
Crawford Corporation incurred the following transactions. Purchased raw materials on account $52,700. 1. 2. Raw Materials of $42,700 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,600 was classified as indirect materials. Factory labor costs incurred were $67,600, of which $50,300 pertained to factory wages payable and $17,300 pertained to employer payroll taxes payable. 3. Time tickets indicated that $55,500 was direct labor and $12,100 was indirect labor. 4. Manufacturing overhead costs incurred on...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $53,600. 2. Raw Materials of $44,800 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,600 was classified as indirect materials. 3. Factory labor costs incurred were $66,300, of which $51,500 pertained to factory wages payable and $14,800 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,200 was direct labor and $11,100 was indirect labor. 5. Manufacturing overhead costs incurred...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $52,800. Raw Materials of $45,500 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,600 was classified as indirect materials. 3. Factory labor costs incurred were $68,000, of which $51,500 pertained to factory wages payable and $16,500 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,100 was direct labor and $12,900 was indirect labor. 5. Manufacturing overhead costs incurred on...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $53,000. 2. Raw Materials of $41,800 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,700 was classified as indirect materials. 3. Factory labor costs incurred were $60,500, of which $50,600 pertained to factory wages payable and $9,900 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,800 was direct labor and $5,700 was indirect labor. 5. Manufacturing overhead costs incurred...
Exercise 15-7 Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $52,800. 2. Raw Materials of $45,500 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,600 was classified as indirect materials 3. Factory labor costs incurred were $68,000, of which 551,500 pertained to factory wages payable and $16,500 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,100 was direct labor and $12.900 was indirect labor. 5. Manufacturing overhead...
Bonita Corporation incurred the following transactions. 1. 2. 3. 4. Purchased raw materials on account $55,000. Raw Materials of $36,400 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 $61,000. Time tickets indicated that $54,300 was direct labor and $6,700 was indirect labor. Manufacturing overhead costs incurred on account were $82,100. Manufacturing overhead was applied at the rate of 160% of direct labor cost....
Exercise 15-7 Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $51,000. 2. Raw Materials of $42,300 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,800 was classified as indirect materials. 3. Factory labor costs incurred were $66,200, of which $50,600 pertained to factory wages payable and $15,600 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,000 was direct labor and $11,200 was indirect labor. 5. Manufacturing overhead...