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accounting costs Exercise 1 The following information was taken from the Window Manufacturing books after all accounting transactions were posted in their books at the
accounting costs Exercise 1 The following information was taken from the Window Manufacturing books after all accounting transactions were posted in their books at the end of January, in their first month of operations. Direct material costs were $ 65,340; the direct labor cost was $ 27,000; General manufacturing expenses consisted of indirect materials of $ 3,530 and indirect labor of $ 1399. All works during the month of January were completed and sold at the end of the month. Prepare the following journal entries for: (1) Charge the July cost of materials to work in process and factory overhead. (2) Charge the July cost of labor to work in process and factory overhead. (3) Record the closing of factory overhead to work in process, (4) Record the completion of all jobs. Exercise 2 At the end of the year 2019, Window Manufacturing held a meeting with the plant managers. In the meeting then gives several analyzes each department supply the following data: 1. Final inventory of finished products was $ 217,435 = 33,341 units 2. Costs of units produced $ 1,323,520 = 398,000 units 3. Initial inventory cost finished products $ 193, 963 = 20,000 units Using the information provided above they must prepare a Statement of Sales Costs. Focu Exercise 3 At the afore mentioned meeting the following data were established: Raw Material Product in process Finished Product Initial $3,225,000 $132,656 $291,000 Final $1,822,450 $91,302 $236,511 Purchase of Raw Material Direct Labor Indirect Expense Freight Returns and Discounts $1,352,164 $183,264 $60,000 $196,000 $28,000 With this information they must prepare a State of Cost of Production and Sales. In order to solve the exercise, they must use the data provided in exercise 2 and 3. When preparing your answers, you should do them step by step
accounting costs
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