Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

a . Purchased materials on account, $ 4 9 0 , 0 0 0 . b . Incurred total manufacturing wages of $ 1 1

a. Purchased materials on account, $490,000.
b. Incurred total manufacturing wages of $111,000, which included both direct labor and indirect labor. Used direct labor in manufacturing as follows:
\table[[,Direct Labor],[Chalet 13dotsdotsdotsdots,14,600,],[Chalet 14dotsdotsdotsdots,28,300,],[Chalet 15dotsdotsdotsdots,19,300,],[Chalet 16dotsdotsdots$,21,900,]]
c. Requisitioned direct materials in manufacturing as follows:
\table[[,Direct Materials],[Chalet 13dotsdotsdotsdots$,41,000,],[Chalet 14dotsdotsdotsdots$,56,900,],[Chalet 15dotsdotsdotsdots,62,500,],[Chalet 16dotsdotsdotsdots,66,200,]]
Events
\table[[Chalet 15dotsdotsdots.$Superior Homes manufactures prefabricated chalets in Colorado. The company uses a perpetual inventory system and a job cost system in which each chalet is a job. The following events occurred during May:
View the events.
Read the requirements.
Requirement 1. Record the events in the general journal. (Record debits first, then credits. Exclude explanations from any journal entries.)
Start with the entry from event (a). Purchased materials on account, $490,000.
(b) Incurred total manufacturing wages of $111,000, which included both direct labor and indirect labor.
(c) Requisitioned direct materials in manufacturing.
\table[[Journal Entry,,,],[Date,Accounts,Debit,Credit],[c.,,,]]

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing The Art and Science of Assurance Engagements

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser

12th Canadian edition

978-0133098235

Students also viewed these Accounting questions