%3A%2F%2F Chapter 20 HW Part lI Help Save Major League Bat Company manufactures baseball bets. In addition to its work in process inventories, the company maintains inventories of raw materials and finished goods. It uses raw materials as direct materials in production and as indirect materials. Its factory payroll costs include direct labor for production and indirect labor. All materials are added at the beginning of the process, and conversion costs are applied uniformly throughout the production process Required e8okYou are to maintain records and produce measures of inventories to reflect the July events of this company. The June 30 balances: 9Goods Inventory. $144,000, Sales, $0: Cost of Goods Sold, $O. Factory Payroll Payable, $O: and Factory Overhead, so. Raw Materials Inventory, $22,000; Work in Process Inventory, $969?($2.810 of direct materials and $6880 of conversiont Finshed 1. Prepare journal entries to record the following July transactions and events. a. Purchased raw materials for $130,000 cash (the company uses a perpetual inventory system). b. Used raw materials as follows: direct materials, $52,540; and indirect materials, $11,500 c. Recorded factory payroll payable costs as follows: direct lebor, $206.000: and indirect labor, $26.500. Ud. Paid factory payroll cost of $232,500 with cash (ignore taxes References e.Incurred additional factory overheed costs of $83,000 paid in cash A located factory overhead to production at 50% of direct labor costs. View transaction lst View journal entry worksheet Debit Credit 130.000 General Journal No a Raw materials inventory 30,000 Cash Work in process inventory Factory overhead 52.540 11,500 64,040 Raw materiais invenbory Work in process inventory 206.000 Prev il 1 of 1 l Score.answer > %3A%2F%2F Chapter 20 HW Part lI Help Save Major League Bat Company manufactures baseball bets. In addition to its work in process inventories, the company maintains inventories of raw materials and finished goods. It uses raw materials as direct materials in production and as indirect materials. Its factory payroll costs include direct labor for production and indirect labor. All materials are added at the beginning of the process, and conversion costs are applied uniformly throughout the production process Required e8okYou are to maintain records and produce measures of inventories to reflect the July events of this company. The June 30 balances: 9Goods Inventory. $144,000, Sales, $0: Cost of Goods Sold, $O. Factory Payroll Payable, $O: and Factory Overhead, so. Raw Materials Inventory, $22,000; Work in Process Inventory, $969?($2.810 of direct materials and $6880 of conversiont Finshed 1. Prepare journal entries to record the following July transactions and events. a. Purchased raw materials for $130,000 cash (the company uses a perpetual inventory system). b. Used raw materials as follows: direct materials, $52,540; and indirect materials, $11,500 c. Recorded factory payroll payable costs as follows: direct lebor, $206.000: and indirect labor, $26.500. Ud. Paid factory payroll cost of $232,500 with cash (ignore taxes References e.Incurred additional factory overheed costs of $83,000 paid in cash A located factory overhead to production at 50% of direct labor costs. View transaction lst View journal entry worksheet Debit Credit 130.000 General Journal No a Raw materials inventory 30,000 Cash Work in process inventory Factory overhead 52.540 11,500 64,040 Raw materiais invenbory Work in process inventory 206.000 Prev il 1 of 1 l Score.answer >
