On May 7, Bergan Company purchased on account 60,500 units of raw materials at $13.00 per unit. During May, raw materials were requisitioned for production as follows: 26,600 units for Job 200 at $9.00 per unit and 26,800 units for Job 305 at $13.00 per unit. Journalize the entry on May 7 to record the purchase and on May 31 to record the requisition from the materials storeroom. Refer to the Chart of Accounts for exact wording of account titles.
Journalize the entry on May 7 to record the purchase and on May 31 to record the requisition from the materials storeroom. Refer to the Chart of Accounts for exact wording of account titles.
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JOURNAL
ACCOUNTING EQUATION
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Journalize the entry on May 7 to record the purchase and on May 31 to record the requisition from the materials storeroom.
Date | Description | Post. Ref. | Debit | Credit | |
1 | May-07 | Raw Materials Inventory (60,500 x $13) | 7,86,500 | ||
2 | Accounts payable | 7,86,500 | |||
3 | May-31 | Work in progress (26,600 x $9) + (26,800 x $13) | 5,87,800 | ||
4 | Raw Materials Inventory | 5,87,800 |
On May 7, Bergan Company purchased on account 60,500 units of raw materials at $13.00 per...
BE 16-1 Issuance of materials Obj. 2 On May 7, Bergan Company purchased on account 10.000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 weits for Job 200 at $8 per unit and 1.480 units for Job 305 at $5 per unit Journalive the entry on May 7 to record the purchase and on May 31 to record the requisition from the materials storeroom.
Issuance of Materials On May 7, Darling Company purchased on account 770 units of raw materials at $11 per unit. During May, raw materials were requisitioned for production as follows: 239 units for Job 200 at $8 per unit and 370 units for Job 305 at $11 per unit. Journalize the entry on May 7 to record the purchase. If an amount box does not require an entry, leave it blank. May 7 Journalize the entry on May 31 to...
Issuance of Materials On May 7, Jernigan Company purchased on account 660 units of raw materials at $13 per unit. During May, raw materials were requisitioned for production as follows: 257 units for Job 200 at $11 per unit and 323 units for Job 305 at $13 per unit. Journalize the entry on May 7 to record the purchase. If an amount box does not require an entry, leave it blank. May 7 Journalize the entry on May 31 to...
On April 6, Keenan Company purchased on account 480 units of raw materials at $16 per unit. On April 21, raw materials were requisitioned for production as follows: 202 units for Job 50 at $12 per unit and 149 units for Job 51 at $16 per unit. Journalize the entry on April 6 to record the purchase. Apr. 6 Journalize the entry on April 21 to record the requisition from the materials storeroom. Apr. 21
On August 4, Darling Company purchased on account 660 units of raw materials at $11 per unit. During August, raw materials were requisitioned for production as follows: 198 units for Job 40 at $9 per unit and 284 units for Job 42 at $11 per unit. Journalize the entry on August 4 to record the purchase. Aug. 4 Journalize the entry on August 31 to record the requisition from the materials storeroom. Aug. 31
Issuance of Materials On August 4, Jernigan Company purchased on account 760 units of raw materials at $22 per unit. During August, raw materials were requisitioned for production as follows: 289 unit for Job 40 at $18 per unit and 312 units for Job 42 at $22 per unit. Journalize the entry on August 4 to record the purchase. Aug. 4 Journalize the entry on August 31 to record the requisition from the materials storeroom. Aug. 31
Issuance of Materials On August 4, Rothchild Company purchased on account 12,000 units of raw materials at $14 per unit. During August, raw materials were requisitioned for production as follows: 5,000 units for Job 40 at $8 per unit and 6,200 units for Job 42 at $14 per unit. Journalize the entry on August 4 to record the purchase. Aug. 4 Journalize the entry on August 31 to record the requisition from the materials storeroom. Aug. 31 Accounts Payable Accounts...
10. set? cribe how a job order cost system can be used for professional service businesses. ic Exercises SHOW WE ROW BE 16.1 Issuance of materials Obj. 2 On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 units for Job 200 at $8 per unit and 1,480 units for Job 305 at $5 per unit. Journalize the entry on May 7...
Direct labor costs Instructions Chart of Accounts Journal Instructions Duning May Bergan Company accumulated 19.000 hours of direct labor costs on Job 200 and 22.000 hours on Job 305 The total direct labor was incurred at a rate of $20.00 per direct labor hour for Jeb 200 and $21.00 per direct labor hour for Job 305 Journalize the entry on May 30 to record the flow of labor costs into production during May Refer to the Chart of Accounts for...
Job Costs At the end of May, Bergan Company had completed Jobs 200 and 305. Job 200 is for 2,390 units, and Job 305 is for 2,053 units. The following data relate to these two jobs: On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 units for Job 200 at $8 per unit and 1,480 units for Job 305 at $5...