TR | General journal | Debit | Credit |
1) | Raw materials inventory | $16,810 | |
Accounts payable | $16,810 | ||
2) | Work in process inventory | $16,720 | |
Raw materials inventory | $16,720 | ||
3) | manufacturing overhead | $ 1,310 | |
Raw materials inventory | $ 1,310 | ||
4) | Accounts payable | $16,810 | |
cash | $16,810 | ||
5) | Raw materials inventory | $ 2,200 | |
work in process inventory | $ 2,200 | ||
6) | work in process inventory | $31,900 | |
cash | $31,900 | ||
7) | manufacturing overhead | $17,210 | |
Accounts payable | $17,210 | ||
8) | Manufacturing overhead | $36,600 | |
Accumulated depreciation | $36,600 | ||
9) | work in process inventory | $31,581 | |
applied Manufacturing overhead | $31,581 | ||
(31,900*99%) |
Materials inventory | Work in process inventory | |||||||
Beg.Bal | $11,610 | beg .bal | $11,309 | |||||
1) | $16,810 | $16,720 | 2) | 2) | $16,720 | $ 2,200 | 5) | |
5) | $ 2,200 | $ 1,310 | 3) | 6) | $31,900 | $78,780 | Trfd to finished | |
9) | $31,581 | goods | ||||||
end bal | $12,590 | End bal | $10,530 | |||||
Manufacturing overhead control | Applied manufacturing overhead | |||||||
Beg.bal | $ - | Beg.Bal | $ - | |||||
3) | $ 1,310 | $31,581 | 9) | |||||
7) | $17,210 | |||||||
8) | $36,600 | |||||||
End bal | $55,120 | end bal | $31,020 | |||||
Accounts payable | Cash | |||||||
Beg.Bal | $ - | Beg.Bal | $ - | |||||
4) | $16,810 | $16,810 | 1) | $16,810 | 4) | |||
$17,210 | 7) | $31,900 | 6) | |||||
End bal | $17,210 | End bal | $48,710 | |||||
Accumulated Depreciation -PP&E | finished goods inventory | |||||||
Beg.bal | $ - | Beg bal | $ 2,620 | |||||
$36,600 | 8) | goods com | $78,780 | $74,500 | Trfd to COGS | |||
End bal | $36,600 | end bal | $ 6,900 | |||||
cost of goods sold | ||||||||
Beg.Bal | $ - | |||||||
Goods comp | $74,500 | |||||||
End bal | $74,500 |
Forest Components makes aircraft parts. The following transactions occurred in July. 1. Purchased $16,810 of materials...
Forest Components makes aircraft parts. The following transactions occurred in July. Purchased $16,860 of materials on account. Issued $16,720 in direct materials to the production department. Issued $1,310 of supplies from the materials inventory. Paid for the materials purchased in transaction (1) using cash. Returned $2,170 of the materials issued to production in (2) to the materials inventory. Direct labor employees earned $31,300, which was paid in cash. Purchased miscellaneous items for the manufacturing plant for $17,390 on account. Recognized...
7. Forest Components makes aircraft parts. The following transactions occurred in July. Purchased $16,910 of materials on account. Issued $16,720 in direct materials to the production department. Issued $1,350 of supplies from the materials inventory. Paid for the materials purchased in transaction (1) using cash. Returned $2,080 of the materials issued to production in (2) to the materials inventory. Direct labor employees earned $32,400, which was paid in cash. Purchased miscellaneous items for the manufacturing plant for $17,250 on account....
Forest Components makes aircraft parts. The following transactions occurred in July: Purchased $16,980 of materials on account. Issued $16,700 in direct materials to the production department. Issued $1,280 of supplies from the materials inventory. Paid for the materials purchased in transaction (1) using cash. Returned $2,000 of the materials issued to production in (2) to the materials inventory. Direct labor employees earned $32,900, which was paid in cash. Paid $17,330 for miscellaneous items for the manufacturing plant. Accounts Payable...
Sunset Products manufactures skateboards. The following transactions occurred in March. 1. Purchased $22,500 of materials on account. 2. Issued $1,250 of supplies from the materials inventory. 3. Purchased $25,500 of materials on account. 4. Paid for the materials purchased in transaction (1) using cash. 5. Issued $30,500 in direct materials to the production department. 6. Incurred direct labor costs of $27,500, which were credited to Wages Payable. 7. Paid $22,000 cash for utilities, power, equipment maintenance, and other miscellaneous items...
The following transactions occurred in April at Steve’s Cabinets, a custom cabinet firm: Purchased $21,500 of materials on account. Issued $1,350 of supplies from the materials inventory. Purchased $12,300 of materials on account. Paid for the materials purchased in transaction (1) using cash. Issued $14,700 in direct materials to the production department. Incurred direct labor costs of $25,500, which were credited to Wages Payable. Paid $22,300 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing plant....
The following transactions occurred in April at Steve's Cabinets, a custom cabinet firm: 1. Purchased $23,000 of materials on account 2. Issued $1,500 of upplies from the m e inventory. 3. Purchased $12,600 of materials on account. 4. Paid for the materials purchased in transaction (1) using cash. 5. Issued $15,000 in direct materials to the production department 6. Incurred direct labor costs of $27,000, which were credited to Wages Payable. 7. Paid $22,600 cash for utilities, power, equipment maintenance,...
Exercise 7-22 (Static) Assigning Costs to Jobs (LO 7-1, 2) The following transactions occurred in April at Steve’s Cabinets, a custom cabinet firm. Purchased $80,000 of materials on account. Issued $4,000 of supplies from the materials inventory. Purchased $56,000 of materials on account. Paid for the materials purchased in transaction (1) using cash. Issued $68,000 in direct materials to the production department. Incurred direct labor costs of $100,000, which were credited to Wages Payable. Paid $106,000 cash for utilities, power,...
Exercise 7-24 (Algo) Assigning Costs to Jobs (LO 7-1, 2) Forest Components makes aircraft parts. The following transactions occurred in July. 1. Purchased $16,820 of materials on account. 2. Issued $16,890 in direct materials to the production department. 3. Issued $1,390 of supplies from the materials inventory. 4. Paid for the materials purchased in transaction (1) using cash. 5. Returned $2,060 of the materials issued to production in (2) to the materials inventory. 6. Direct labor employees earned $32,800, which...
please fill in miss parts in T account The following T-accounts represent November activity Materials Inventory Work-In-Process Inventory Ев (11/30) вв (11/1) 56,400 32,400 Dir.Materials 86,700 Finished Goods Inventory Cost of Goods Sold EB (11/30) 100,000 Applied Manufacturing overhead Manufacturing Overhead Control 270,000 Wages Payable Sales Revenue 761,900 Additional Data Materials of $111,900 were purchased during the month, and the balance in the Materials Inventory account increased by $10,700. Overhead is applied at the rate of 150 percent of direct...
i just need part B please and thank you Exercise 7-24 (Algo) Assigning Costs to Jobs (LO 7-1, 2) Forest Components makes aircraft parts. The following transactions occurred in July 2.5 points 1 Purchased $16,960 of materials on account 2. Issued $16,750 in direct materials to the production department 3. Issued $1,330 of supplies from the materials Inventory 4. Pald for the materials purchased in transaction (1) using cash. 5. Returned $2,130 of the materials issued to production in (2)...