266 29 250 Homework 20-2 151 Lonyx Telecommunications produces components for the telecommunication systems. 252 initially the company manufactured the parts for its own networks, but it gradually 253 began selling them to other companies as well. 254 155 a Collections on account, $150,000 156 b. Marketing and general expenses incurred and paid $35,000. 157 Paid $40,000 on account 158 d. Materials purchases on credit, glass substrate of $27,500; indirect 259 materials, $5,800 260 e Materials used in production requisitioned): 161 1. Job 120, glass substrate, $850 162 2. Job 121. glass substrate, $8,200 163 3. Indirect Materials, $3,500 164 Manufacturing wages incurred during April, $42,000 of which $36,000 265 was paid Labor time records for the month: Job 120,$5,000; 106 121, $19,000; 167 Indirect labor, $18,000. 168 h Depreciation on plant and equipment (debit overhead) $2,400. 169 Manufacturing overhead was allocated at the predetermined rate of 170 75% of direct labor dollars. 172 Jobs completed during the month; Job 120. 172 Credit Sales on account: Job 120 for $12,000. 1731 Closed the manufacturing overhead account to Cost of Goods sold. 175 Prepare journal entries for the above transactions 176 177 a 278 179 180 181 182 163 184 185 186 d 187 188 189 174 190 191 192 ABES Draw Page Layout Insert Home Formulas Data Review View Calibri (Body 11 Paste H32 vo A . 1 . C D 200 101 22 TOT SAT E 165 180 22 113 294 SEE 11 131 195 201 DE 201 210 un 3 RE DIE SHE 25 758 SEE CEE E 22 NE 2 3 3 a W E RU tob 205 205 207 208 209 210 212 212 213 214 215 216 217 218 229 220 221 222 223 DM 224 DU 225 OH 226 Total 227 WIP Job 120 Job Overhead Actual Applied