Exercise 7-23 Assigning Costs to Jobs (LO 7-1, 2) Foreet Components makes aicraft parts. The lallowing transactions occurTed in July 1. purchasec 16.910 of ma erials *n accom. 2. lesued 318,000 in drec: maerials to the producton cepariment Issued $1,320 cf supples from t e maarials inventory. 4, Paid for the materia s purchased in transacecn 1: uang cash. 5. Returred $2,180 of the materiale iseued to produtton in 121 ls the materials inventery &. Droct laber amployees aarred 832,500, which was paid in cash 7. Paid 17,260 for miscelanacua hems for tha manufacturing plant. Accounta Payabla a a csadhed. & Recognized depreciation on mauladuring pant of S37,000 e. Appliod manufacturing averhoad for the month L the begnning of the year marlygement esti TKlod that druct , or toets or rorost usus orral oosing. It apples eac on JJ5,50 drott labor costs using " nnual, pro e ormmod rato. would ba $435,100. Estimated overhaad far the yar was $391,590 The tollwing balances aapeaned in the invetory accounts ot Forest Campanents tar July orer $2670 Coet el Goods Sold 4,800 Prapare journal eraries to racord th sa transactors. It no entry is required for a transactionevent, select ..No pournal entry required, in the first account field.) Debit Credit No Tranaacticn Rccorded Tea sctien Recorced Transaclicn Recorded 7 No Trasctin Recorded Beg, bal 8eg be Beg ba End ba End, tel Eeg. bal End. bal. Beg, bel Beg be Goocs So d End ba End. tel. Beg. bal. Goods compisted End. bal. Exercise 7-23 Assigning Costs to Jobs (LO 7-1, 2) Foreet Components makes aicraft parts. The lallowing transactions occurTed in July 1. purchasec 16.910 of ma erials *n accom. 2. lesued 318,000 in drec: maerials to the producton cepariment Issued $1,320 cf supples from t e maarials inventory. 4, Paid for the materia s purchased in transacecn 1: uang cash. 5. Returred $2,180 of the materiale iseued to produtton in 121 ls the materials inventery &. Droct laber amployees aarred 832,500, which was paid in cash 7. Paid 17,260 for miscelanacua hems for tha manufacturing plant. Accounta Payabla a a csadhed. & Recognized depreciation on mauladuring pant of S37,000 e. Appliod manufacturing averhoad for the month L the begnning of the year marlygement esti TKlod that druct , or toets or rorost usus orral oosing. It apples eac on JJ5,50 drott labor costs using " nnual, pro e ormmod rato. would ba $435,100. Estimated overhaad far the yar was $391,590 The tollwing balances aapeaned in the invetory accounts ot Forest Campanents tar July orer $2670 Coet el Goods Sold 4,800 Prapare journal eraries to racord th sa transactors. It no entry is required for a transactionevent, select ..No pournal entry required, in the first account field.) Debit Credit No Tranaacticn Rccorded Tea sctien Recorced Transaclicn Recorded 7 No Trasctin Recorded Beg, bal 8eg be Beg ba End ba End, tel Eeg. bal End. bal. Beg, bel Beg be Goocs So d End ba End. tel. Beg. bal. Goods compisted End. bal
