Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $46,300. 2. Raw materials of $36,000 were requisitioned to the factory. An analysis

Crawford Corporation incurred the following transactions.

1. Purchased raw materials on account $46,300.

2. Raw materials of $36,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,800 was classified as indirect materials.

3. Factory labor costs incurred were $59,900, of which $51,000 pertained to factory wages payable and $8,900 pertained to employer payroll taxes payable.

4.Time tickets indicated that $54,000 was direct labor and $5,900 was indirect labor.

5. Manufacturing overhead costs incurred on account were $80,500.

6. Depreciation on the company's office building was $8,100.

7. Manufacturing overhead was applied at the rate of 150% of direct labor cost.

8. Goods costing $88,000 were completed and transferred to finished goods.

9. Finished goods costing $75,000 to manufacture were sold on account for $103,000.

Jounalize the transactions (omit explanations)

But if you could actually show explantions that would be great.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

What advice would you provide to Jennifer?

Answered: 1 week ago

Question

What are the issues of concern for each of the affected parties?

Answered: 1 week ago