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10. Prepare journal entries to record the following production activities for Hotwax. a. Requisitioned $9,800 of indirect materials for use in production of surfboard wax.
10. Prepare journal entries to record the following production activities for Hotwax. a. Requisitioned $9,800 of indirect materials for use in production of surfboard wax. b. Incurred $218,000 in actual other overhead costs (paid in cash). c. Applied overhead at the rate of 160% of direct labor costs. Direct labor costs were $80,000 in the Mixing department and $80,000 in the Shaping department.
Journal entry worksheet
- Requisitioned $9,800 of indirect materials for use in production of surfboard wax.
Note: Enter debits before credits.
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- Incurred $218,000 in actual other overhead costs (paid in cash).
Note: Enter debits before credits.
|
- Applied overhead at the rate of 160% of direct labor costs. Direct labor costs were $80,000 in the Mixing department and $80,000 in the Shaping department.
Note: Enter debits before credits.
|
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