Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Current Attempt in Progress Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $53,000. 2. 3. 4. Raw Materials of $36,100

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Current Attempt in Progress Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $53,000. 2. 3. 4. 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. 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. 7. Depreciation on the company's office building was $8,800. 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) Debit Credit

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

Principles of Cost Accounting

Authors: Edward J. Vanderbeck, Maria Mitchell

17th edition

9781305480520, 1305087402, 130548052X, 978-1305087408

More Books

Students also viewed these Accounting questions