Transaction |
No |
General Journal |
Debit |
Credit |
a. |
1 |
Raw materials inventory |
220,000 |
|
Accounts payable |
220,000 |
|||
b. |
2 |
Work in process inventory |
131,700 |
|
Factory overhead |
21,500 |
|||
Raw materials inventory |
153,200 |
|||
c. |
3 |
Factory overhead |
15,500 |
|
Cash |
15,500 |
|||
d. |
4 |
Work in process inventory |
103,700 |
|
Factory overhead |
25,000 |
|||
Cash |
128,700 |
|||
e. |
5 |
Work in process inventory |
179,000 |
|
Factory overhead |
179,000 |
|||
f. |
6 |
Finished goods inventory |
359,700 |
|
Work in process inventory |
359,700 |
|||
g(1). |
7 |
Accounts receivable |
530,000 |
|
Sales |
530,000 |
|||
g(2). |
8 |
Cost of goods sold |
218,900 |
|
Finished goods inventory |
218,900 |
|||
h. |
9 |
Factory overhead |
154,000 |
|
Accum. depreciation—Factory building |
68,000 |
|||
Accum. depreciation—Factory equipment |
38,000 |
|||
Prepaid insurance |
11,000 |
|||
Property taxes payable |
37,000 |
|||
i. |
10 |
Work in process inventory |
28,400 |
|
Factory overhead |
28,400 |
|||
4. |
Prepare a report showing the total cost of each job in process and prove that the sum of their costs equals the Work in Process Inventory account balance. Prepare similar reports for Finished Goods Inventory and Cost of Goods Sold. |
Work in Process Inventory |
|
Balance | |
Finished goods Inventory | |
Balance | |
Cost of Goods Sold | |
Transaction No General Journal Debit Credit a. 1 Raw materials inventory 220,000 Accounts payable 220,000 b....
a. Purchased raw materials on credit, $240,000. b. Materials requisitions record use of the following materials for the month Job 136 Job 137 Job 138 Job 139 Job 140 $ 48,000 32.500 19,800 23,400 7,000 Total direct materials Indirect materials 130,700 19.500 Total materials used $150.200 c. Paid $15.750 cash to a computer consultant to reprogram factory equipment. d. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 Job 137...
Problem 15-3A Source documents, journal entries, and accounts in job order costing LO P1, P2, P3 [The following information applies to the questions displayed below.] Widmer Watercraft's predetermined overhead rate for year 2015 is 200% of direct labor. Information on the company's production activities during May 2015 follows. a. Purchased raw materials on credit, $220,000. b. Materials requisitions record use of the following materials for the month. Job 136 Job 137 Job 138 $ 48,500 33,000 19,400 22,600 7,400 Job...
Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases April are $500,000, and factory payroll cost in April is $363.000 Overhead costs incurred in April are: indirect materials, $50,000, indirect labor, $23,000; factory rent. $32,000, factory utilities, $19,000, and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow. Job 386 Job 307...
Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $379,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor, $25,000; factory rent, $32,000; factory utilities, $21,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $675,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job...
Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $363,000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $19,000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job...
Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $363,000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $19,000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job...
Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $540,000, and factory payroll cost in April is $390,000. Overhead costs incurred in April are: indirect materials, $53,000; indirect labor, $28,000; factory rent, $30,000; factory utilities, $22,000; and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $690,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job...
Marcelino Co.'s March 31 inventory of raw materials is $81,000. Raw materials purchases in April are $530,000, and factory payroll cost in April is $380,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor, $22,000; factory rent, $40,000; factory utilities, $21,000, and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job...
Marcelino's March 31 inventory of raw materials is $80.000 Raw materials purchases in April are $500000 and factory payroll cost in April is $363.000. Overhead costs incurred in April are indirect materials. $50,000 indirect labor. $23.000, factory rent. $32,000, factory utilities. S19.000 and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow Job 386 Job 387...
Marcelino Co.'s March 31 inventory of raw materials is $90,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $383,000. Overhead costs incurred in April are: indirect materials, $53,000; indirect labor, $24,000; factory rent, $31,000; factory utilities, $19,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $685,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job...