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Coronado Corporation incurred the following transactions. 1. 2. 3. Purchased raw materials on account $53,000. Raw Materials of $36,100 were requisitioned to the factory.
Coronado Corporation incurred the following transactions. 1. 2. 3. Purchased raw materials on account $53,000. Raw Materials of $36,100 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,400 was classified as indirect materials. Factory labor costs incurred were $61,300, of which $51,200 pertained to factory wages payable and $10,100 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,300 was direct labor and $7,000 was indirect labor. 5. Manufacturing overhead costs incurred on account were $82,000. 6. Depreciation on the company's office building was $3,800. 7. Manufacturing overhead was applied at the rate of 160% of direct labor cost. 8. Goods costing $92,200 were completed and transferred to finished goods. 9. Finished goods costing $80,900 to manufacture were sold on account for $106,300. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation (1) (2) (3) (4) (5) (6) Debit Credit
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