Question
Enter the following entries for the month of August. A. Purchased raw materials on account: $3,100. B. Selling and Administrative expenses incurred and paid: $1,200.
Enter the following entries for the month of August.
A. Purchased raw materials on account: $3,100.
B. Selling and Administrative expenses incurred and paid: $1,200.
C. Used direct materials: $3,900.
D. Used indirect materials: $300.
E. Manufacturing wages incurred totaled $4,000, of which 90% was direct labor and 10% was indirect labor.
F. Incurred other actual factory overhead on account: $1,300.
G. Factory Overhead was allocated to Work in Process Inventory at a predetermined overhead allocation rate of 60% of Direct Labor costs incurred during August.
H. The cost of product completed: $10,000.
I. Sales on account: $17,500. The cost of the units sold was $9,500.
What would the journal entries for this look like?
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