Final

IV. (16 points) records. The I. onos Menofacturing Company employs a job order cost accounting system and keeps perpetual inventory Direct materials requisitioned during the month: following transactions occurred in the first month of operations: Job 101 Job 102 Job 103 $20,000 16,000 24,000 2. Direct labor incurred and charged to jobs during the month was: Job 101 Job 102 Job 103 $32,000 28,000 20,000 Manufacturing overhead was applied to jobs worked on using a predetermined overhead rate based on 75% of direct labor costs 3. Actual manufacturing overhead costs incurred during the month were factory depreciation expense $20,000 and other overhead expenses incurred on account, $46,000. 4. 5. Jobs 101 Job 102 were completed during the month. Instructions (a) Prepare journal entries to record the above transactions. General Journal Entry # Account Title Debit Credit