Question
Current Attempt in Progress Blossom Corporation had the following transactions during its first month of operations: 1. Purchased raw materials on account, $105,400. 2. Raw
Current Attempt in Progress Blossom Corporation had the following transactions during its first month of operations: 1. Purchased raw materials on account, $105,400. 2. Raw materials of $37200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7440was classified as indirect materials. 3. Factory labor costs incurred were $217000of which $179800pertained to factory wages payable and $37200 pertained to employer payroll taxes payable. 4. Time tickets indicated that $179800 was direct labor and $37200was indirect labor. 5. Overhead costs incurred on account were $245520. 6. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 7. Goods costing $142600are still incomplete at the end of the month; the other goods were completed and transferred to finished Goods Inventory. 8. Finished Goods Inventory with a cost of $124000was sold on account for $161200. Journalize the above transactions for Blossom Corporation, (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)
Blossom Corporation had the following transactions during its first month of operations: 1. Purchased raw materials on account, $105,400. 2. Raw materials of $37,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,440 was classified as indirect materials. 3. Factory labor costs incurred were $217,000 of which $179,800 pertained to factory wages payable and $37,200 pertained to employer payroll taxes payable. 4. Time tickets indicated that $179,800 was direct labor and $37,200 was indirect labor. 5. Overhead costs incurred on account were $245,520. 6. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 7. Goods costing $142,600 are still incomplete at the end of the month; the other goods were completed and transferred to finished Goods Inventory. 8. Finished Goods Inventory with a cost of $124,000 was sold on account for $161,200. Journalize the a bove tranactions for Blogsom Corporation. (Credit account titles are automatically indented when the amount is enteredStep by Step Solution
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