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6. Journalize the following transactions for Kona Company assuming they use job order costing: a. $87,000 of raw materials were purchased on credit during the
6. Journalize the following transactions for Kona Company assuming they use job order costing: a. $87,000 of raw materials were purchased on credit during the period. b. Total materials used for the period was $62,000. Of this, $48,000 went directly to jobs 101104. The rest was indirect. Use separate journal entries to record direct and indirect materials. c. Total factory labor for the period was $44,000. $38,000 of the labor went directly to jobs 101-104. The rest was indirect. Use separate journal entries to record direct and indirect labor. d. Actual overhead incurred on credit totaled $36,000. e. Applied overhead at the rate of 110% of direct labor cost. f. Total cost of jobs completed and transferred to finished goods was $52,000. g. Jobs 101 and 102 were sold for $69,000 on credit. The total cost of these jobs was $43,000. 6. Journalize the following transactions for Kona Company assuming they use job order costing: a. $87,000 of raw materials were purchased on credit during the period. b. Total materials used for the period was $62,000. Of this, $48,000 went directly to jobs 101104. The rest was indirect. Use separate journal entries to record direct and indirect materials. c. Total factory labor for the period was $44,000. $38,000 of the labor went directly to jobs 101-104. The rest was indirect. Use separate journal entries to record direct and indirect labor. d. Actual overhead incurred on credit totaled $36,000. e. Applied overhead at the rate of 110% of direct labor cost. f. Total cost of jobs completed and transferred to finished goods was $52,000. g. Jobs 101 and 102 were sold for $69,000 on credit. The total cost of these jobs was $43,000
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