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Cline Manufacturing Company uses a job order system and maintains perpetual inventory records. Indicate the the appropriate account(s) to be debited and credited for the
Cline Manufacturing Company uses a job order system and maintains perpetual inventory records. Indicate the the appropriate account(s) to be debited and credited for the transactions listed below. (On multiple entries enter answers in alphabetical order.) Account(s) Debited Account(s) Credited Transactions 1. Raw Materials Inventory Accounts Payable Raw materials were purchased on account. 2. Manufacturing Overhead cas Issued a check to Dixon Machine Shop for repair work on factory equipment. 3. Work in Process Inventory raw ma Direct materials were requisitioned for Job 280. 4. Factory Labor Cash Factory labor was paid as incurred. 5. Manufacturing Overhead Factory Labor Recognized direct labor and indirect labor used. Manufacturing Overhead 6. Work in Process Inventory Raw Materials Inventory The production department requisitioned indirect materials for use in the factory. 7. Work in Process Inventory Manufacturing Overhead Manufacturing overhead was applied to production based on a predetermined overhead rate of $8 per labor hour. 8. Finished Goods Inventory Work in Process Inventory Goods that were completed were transferred to finished goods inventory. 9. Cost of Goods Sold Sales Revenue Goods costing $80,000 were sold for $105,000 on account. Cost of Goods Sold Finished Goods Inventory 10. Accounts Payable Cash Paid for raw materials purchased previously on account
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