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ABC Company employs a job-order costing and reported the following transactions during the month of March: a. direct materials purchased on account totaled $27,000 b.
ABC Company employs a job-order costing and reported the following transactions during the month of March: a. direct materials purchased on account totaled $27,000 b. direct materials used were: Job #1, $12,500; Job #2, $11,260; and Job #3, $5,500 c. direct labor incurred was: Job #1, 250 hours at $20 per hour; Job #2, 280 hours at $15 per hour; and Job #3, 140 hours at $12 per hour d. overhead was applied to jobs at a rate of 70% of direct labor cost e. Job #2, which consisted of 100 units, was completed and transferred to the finished goods warehouse f. 37 units from Job #2 were sold and shipped to the customer; the customer was billed for 160% of the cost of the units The journal entry to record the direct labor cost for March would include a debit to:
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