College Accounting 2. All 4 photos combine as tabs of a single excel file. Please complete as organized as possible with labels. _______________________________________________________________________________________ _____________________________________________________________________________________ _______________________________________________________________________________________
College Accounting 2.
All 4 photos combine as tabs of a single excel file. Please complete as organized as possible with labels.
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Please journalize the following transactions for James Manufacturers, Inc. 8/1/23 James Manufacturers purchased $500,000 of Raw Material with cash. 8/3/23 James Manufacturers transferred $65,000 of direct material into production for WIP - \# 1. 8/5/23 James Manufacturers transferred $9,000 of indirect material into production for WIP - \# 1. 8/7/23 James Manufacturers transferred $53,000 of direct materials into production for WIP - \# 2. 8/9/23 James Manufacturers transferred $7,500 of indirect material into production for WIP - \# 2. 8/11/23 James Manufacturers paid $28,000 of labor costs ($8,000 of indirect labor &$20,000 of direct labor) for WIP - \#1. 8/13/23 James Manufacturers paid $24,000 of labor costs ($6,000 of indirect labor &$18,000 of direct labor) for WIP - \#2. 8/15/23 James Manufacturers paid $1,200 of factory utilities. 8/17/23 James Manufacturers paid $2,350 for rent on the factory. 8/19/23 James Manufacturers paid $950 in factory insurance. 8/31/23 James Manufacturers applies factory overhead to WIP at a rate of 27% of Direct Material applied. Please use the following balances as well as the transactions above to complete the Cost of Goods Manufacturered Assets = Liabilities + Raw Material Finishied Goods Work-In-Process #1 Factory Overhead Please journalize the following transactions for James Manufacturers, Inc. 8/1/23 James Manufacturers purchased $500,000 of Raw Material with cash. 8/3/23 James Manufacturers transferred $65,000 of direct material into production for WIP - \# 1. 8/5/23 James Manufacturers transferred $9,000 of indirect material into production for WIP - \# 1. 8/7/23 James Manufacturers transferred $53,000 of direct materials into production for WIP - \# 2. 8/9/23 James Manufacturers transferred $7,500 of indirect material into production for WIP - \# 2. 8/11/23 James Manufacturers paid $28,000 of labor costs ($8,000 of indirect labor &$20,000 of direct labor) for WIP - \#1. 8/13/23 James Manufacturers paid $24,000 of labor costs ($6,000 of indirect labor &$18,000 of direct labor) for WIP - \#2. 8/15/23 James Manufacturers paid $1,200 of factory utilities. 8/17/23 James Manufacturers paid $2,350 for rent on the factory. 8/19/23 James Manufacturers paid $950 in factory insurance. 8/31/23 James Manufacturers applies factory overhead to WIP at a rate of 27% of Direct Material applied. Please use the following balances as well as the transactions above to complete the Cost of Goods Manufacturered Assets = Liabilities + Raw Material Finishied Goods Work-In-Process #1 Factory Overhead
