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Can you please show your work so I can understand how you got the answers. thank you! Aggie Custom Kitchens Corporation uses a job order
Can you please show your work so I can understand how you got the answers. thank you!
Aggie Custom Kitchens Corporation uses a job order cost system. The following data summarizes the operations related to its first month's production. 1. Materials costing $181,000 were purchased by paying $65,000 in cash with the remainder on account. 2. Materials requisitioned were as follows: Job i $12,600; Job 2 $5,100; Job 3 $9,100; General factory use $1,400. 3. Factory wages incurred were as follow: Job 1 $6,200, Job 2 87,400; Job 3 $4,900: General factory use $4,863. The factory wages were paid in cash. 4. Depreciation on the factory equipment $1,800. 5. Depreciation on the corporate headquarters $2,100. 6. Manufacturing overhead costs incurred on account $7.900. 7. Manufacturing overhead rate is applied at 85% of the direct labor costs. 8. Job I and Job 3 were completed during the month. 9. Job 1 was sold for $42,452 cash. 10. Prepared the adjusting entry for manufacturing overhead, assuming the balance is allocated entirely to the Cost of Goods Sold account. Instructions: On the separately distributed general journal page, prepare (in good form) the general journal entries for the transactions described above. Identify the journal entries by the transaction number Step by Step Solution
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