Question
For each of the following events in a conversion cycle please identify the appropriate journal entry. Please use this format DR. (name the account) CR
For each of the following events in a conversion cycle please identify the appropriate journal entry. Please use this format
DR. (name the account) CR (name the account)
Assume normal business characteristics.
(1) Purchase raw materials
(2) Sale of products residing in the finished good inventory
(3) Recorded depreciation expense on manufacturing equipment
(4) Recorded direct labor hours and dollars of labor payable for the month
(5) Record the issuance of indirect materials currently residing in the raw materials inventory
(6) Record jobs that have now completed the production process.
(7) Apply factory overhead for the month
(8) Record indirect labor for the month
(9) Record the depreciation on office equipment (the accountant's office) for the month
(1) Record the issuance of direct materials from the raw materials warehouse.
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