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Hello. I am stuck on this one. Can you help me? I need help with the T accounts. Do not leave anything out. Thank you
Hello. I am stuck on this one. Can you help me? I need help with the T accounts. Do not leave anything out. Thank you in advance
EXERCISES 1. Benton Printing Corp. uses a job order cost system. The following data summarize 9 the operations related to the first quarter's production. 1. Materials purchased on account $192,000 and factory wages incurred $87,300. 2. Materials requisitioned and factory labor used by job: Job Factory Number Materials $35,240 42,920 36,100 39,270 Labor $18,000 22,000 15,000 25,000 7,300 $87 300 A20 A21 A23 General factory use 4.470 Totals $158,000 3. Manufacturing overhead costs incurred on account $49,500. 4. Depreciation on factory machinery and equipment $14,550. 5. Depreciation on the company's office building was $14,300 (I'm a TRICK transaction!) 6. The pre-determined overhead rate is 90% of direct labor cost. 7. Jobs completed during the quarter: A20, A21, and A23 Instructions Complete a set of cost-flow T-accounts and prepare the journal entries to record the operations summarized above. Be sure to prepare job cost sheets for each jobStep by Step Solution
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