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Al Ahlia Corporation incurred the following transactions. 1. Purchased raw materials on account $56,300. 2. Raw Materials of $46,800 were requisitioned to the factory. An
Al Ahlia Corporation incurred the following transactions. 1. Purchased raw materials on account $56,300. 2. Raw Materials of $46,800 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,500 was classified as indirect materials. Factory labor costs incurred were $54,800, of which $50,000 pertained to factory wages payable and $4,800 pertained to employer payroll taxes payable. 1. Time tickets indicated that $48,000 was direct labor and $6,800 was indirect labor. 2. Overhead costs incurred on account were $90,500. 3. Manufacturing overhead was applied at the rate of 165% of direct labor cost. Goods costing $98,000 were completed and transferred to finished goods. Finished goods costing $85,000 to manufacture were sold on account for $101,500. Instructions Journalise the transactions
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