Question

1.General journal entries for factory overhead GGT Products, Inc., uses a job order cost system. Selected transactions dealing with factory items for the month follow: a. Requisitioned indirect materials from storeroom, $3,200. b. Purchased, on account, factory supplies for future needs, $4,400. c. Purchased parts, on account, for repairing a machine, $1,400. d. Requisitioned factory supplies from storeroom, $900. e. Returned other defective factory supplies to vendor, $700. f. Factory rent accrued for the month, $2,400. g. Returned previously requisitioned factory supplies to storeroom, $350. h. Depreciation of machinery and equipment, $2,800. i. Payroll taxes liability for month, $3,200. j. Heat, light, and power charges payable for the month, $6,400. k. Expired insurance on inventories, $1,350. I. Factory overhead applied to production, $34,600. m. Indirect labor for the month, $2,600. n. Goods completed and transferred to finished goods: materials, $14,400; labor, $40,400; factory overhead, $30,400. Required: Record the previous transactions. Assume that the records include a control account and a subsidiary ledger for factory overhead, to which the entries will be posted at some later date.

Answer 1

ANSWER:

#	Account	Debit	Credit
a	Work in progress	3,200
	Indirect material		3,200
b	Raw material inventory	4,400
	Account Payable		4,400
c	Repairing on machine	1,400
	Account Payable		1,400
d	Cost of goods manufactured	900
	Raw material inventory		900
e	Account Payable	700
	Purchase return		700
f	Factory Rent	2,400
	Factory Rent Payable		2,400
h	Raw material inventory	350
	Cost of goods manufactured		350
i	Manufacturing overhead	2,800
	Accumulated depreciation		2,800
j	Payroll Tax	3,200
	Payroll tax payable		3,200
k	Factory Overhead	6,400
	Heat, light and power charges payable		6,400
l	Work in progress	34,600
	Factory Overhead		34,600
m	Factory overhead	2,600
	Indirect labor		2,600
n	Finished goods	85,200
	Material		14,400
	Labor		40,400
	Factory overhead		30,400