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Do F5-9 question, should in hand written The following job order cost detail pertains to the three jobs that were in process at the Westwood
Do F5-9 question, should in hand written
The following job order cost detail pertains to the three jobs that were in process at the Westwood Company during January. Prepare the appropriate journal entry to record each of the following January transactions: Direct materials were issued from the materials storeroom to work in process. The payroll was distributed to work m process. Factory overhead was applied to production for the period. Job orders 66 and 67 were completed and transferred to the finished goods storeroom. Wayne Company's July transactions included the following: Purchased materials on account cost $35,000. Requisitions for $8,000 of direct materials and $2,000 of indirect materials were filled from the storeroom. Factory payroll totaling $9, 400 consisted of $7, 600 direct labor and $1, 800 indirect labor. Depreciation of $1, 200on factory equipment was recorded. A job order was completed with $1, 830 of direct labor and $, 1450 of materials previously charged to the order. Factory overhead is to he applied at 66 2/3% of direct labor cost. Miscellaneous factory overhead of $1.250 was accrued. The job order referred to in transaction was shipped to Dixon Associates, who were billed for $5, 400 Prepare journal entries to record the transactions. The McCloud Company had the following inventories at the beginning and end of January: During January, the cost of materials purchased was $138,000, and factory overhead of $90,000 was applied at a rate of 50% of direct labor cost. January cost of goods sold was $205,000. Prepare completed T accounts showing the flow of the cost of goods manufactured and soldStep by Step Solution
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