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answer the question in english..show the formula and calculate completly QUESTIONS 8 During March, the following transactions occurred at Sinar Mentari, Inc.: 1. 2. 3.
answer the question in english..show the formula and calculate completly
QUESTIONS 8 During March, the following transactions occurred at Sinar Mentari, Inc.: 1. 2. 3. 4. 5. 6. 7. Materials were purchased on account for RM24,000. Direct Materials totaling RM20,000 were requisitioned for use in production. Direct labor payroll for the month was RM30,000 with an average wage of RM10 per hour. Actual overhead of RM28,000 was incurred and paid. Factory overhead was charged to production at the rate of RM11 per direct labor hour. Completed units costing RM52,000 were transferred to finished goods. Units costing RM44,000 were sold on account at 145 percent on cost. Beginning balances as of March 1 were as follows: Materials Work in Process Finished Goods RM6,500 8,000 7,000 REQUIRED: a) b) Prepare the journal entries for the above transactions. Calculate the ending balances of the following accounts: D) Raw Materials Inventory Work in Process Inventory ii) Finished goods inventory iv) Manufacturing overheadStep by Step Solution
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