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Foley Company uses a job-order costing system. The following data relate to the month of October, the first month of the companys fiscal year: a.

Foley Company uses a job-order costing system. The following data relate to the month of October, the first month of the companys fiscal year:

a. Raw materials purchased on account, $211,000.
b. Raw materials issued to production, $189,000 (80% direct and 20% indirect).
c. Direct labor cost incurred, $49,000; and indirect labor cost incurred, $22,000.
d. Depreciation recorded on factory equipment, $104,000.
e. Other manufacturing overhead costs incurred during October, $130,000 (credit accounts payable).
f.

The company applies manufacturing overhead cost to production on the basis of $4 per machine-hour. A total of 76,100 machine-hours were recorded for October.

g.

Production orders costing $514,000 according to their job cost sheets were completed during October and transferred to Finished Goods.

h.

Production orders that had cost $449,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold on account at 50% above cost.

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4.00 points Foley Company uses a job-order costing system. The following data relate to the month of October, the first month of the company's fiscal year a. Raw materials purchased on account, $211,000 b Raw materials issued to production, $189,000 (80% direct and 20% indirect). c. Direct labor cost incurred, $49,000; and indirect labor cost incurred, $22,000 d. Depreciation recorded on factory equipment, $104,000 e. Other manufacturing overhead costs incurred during October, $130,000 (credit accounts payable) f. The company applies manufacturing overhead cost to production on the basis of $4 per machine-hour. A total of 76,100 machine-hours were recorded for October g Production orders costing $514,000 according to their job cost sheets were completed during October and transferred to Finished Goods h. Production orders that had cost $449,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold on account at 50% above cost Required: 1. Prepare journal entries to record the information given above. General Journal Debit Credit a. Click to select) Click to select b. (Click to select) (Click to select) Click to select (Click to select) lick to select c. Click to select) d. (Click to select) lick to select e. (Click to select) Click to select f. Click to select) (Click to select) g. (Click to select) Click to select h. Click to select) Click to select Click to select) Click to select) 2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant information above to each account. Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $37,000. (Record the transactions in the given order.) 12:54 PM 4) 7/2/2016

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