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Brockton shoe company manufactures shoes of unusual lengths and with on special order. Prepare the journal entries for each of the following transactions in the
Brockton shoe company manufactures shoes of unusual lengths and with on special order. Prepare the journal entries for each of the following transactions in the journal paper provided Assume that the company uses a job order cost system. Purchased (on credit) materials costing dollar2, 950. Issued materials costing dollar 850 into production. Of this amount, dollar50 was for indirect numerials. Paid the following bills for the factory: The week's gross factory payroll of dollar1.500 was distributed to production of this amount, 80 percent repressors direct labor. The week's overhead costs are applied to production based on direct labour dollars. Estimated overhead for the year is dollar165,000 and estimated direct labor dollars are dollar55,000. Goods costing dollar3, 900 were completed. Finished Goods coasting dollar 2,000 were shipped to a customer. The scalling was dollar3, 400, and payment for the goods is expected need month. Applied overhead for the year was dollar132, 500, and normal overhead was dollar130,000. The overapplied overhead was considered to be in material
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