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Exercise 15-18 (Algo) Recording transactions in job order costing LO P1, P2, P3, P Prepare Journal entries to record transactions a through h. a. Raw
Exercise 15-18 (Algo) Recording transactions in job order costing LO P1, P2, P3, P Prepare Journal entries to record transactions a through h. a. Raw materials purchased on credit, $98,000. b. Direct materials used, $41,500. Indirect materials used, $18,800. c. Direct labor used, $33,000. Indirect labor used, $12,000. (Record using Factory Wages Payable.) d. Pald cash for other actual overhead costs, $8,125. e. Applied overhead at the rate of 125% of direct labor cost. 1. Transferred cost of Jobs completed to finished goods, $63,000. g. Sales of Jobs on credit was $90,000. h. Cost of Jobs sold was $63,000.
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