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How to solve ACME Manufacturing uses a job order cost system. The following data summarize the operations related to production for October: a . Materials
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ACME Manufacturing uses a job order cost system. The following data summarize the operations related to production for October:
a Materials purchased on account, $
b Materials requisitioned, $ of which $ was for general factory use.
c Factory labor used, $ of which $ was indirect.
d Costs incurred on account for factory overhead, $
e Depreciation of factory equipment, $
f Overhead applied to production using a predetermined overhead rate of $ per direct labor hour; direct labor hours used,
g Jobs completed, $
h Cost of goods sold, $
Task: Record the journal entries for the summarized operations below. Replace MMM with the Month, DD with the Day, and the Xs with amounts:
a MMM DD Materials
Accounts Payable
b
DD Work in Process
Factory Overhead
Materials
c
DD Work in Process
Factory Overhead
Wages Payable
d
DD Factory Overhead
g
DD Finished Goods
Work in Process
h DD Cost of Goads Sold
Finished Goods
ACME Manufacturing uses a job order cost system. The following data summarize the operations related to production for October:
a Materials purchased on account, $
b Materials requisitioned, $ of which $ was for general factory use.
c Factory labor used, $ of which $ was indirect.
d Costs incurred on account for factory overhead, $
e Depreciation of factory equipment, $
f Overhead applied to production using a predetermined overhead rate of $ per direct labor hour; direct labor hours used,
g Jobs completed, $
h Cost of goods sold, $
Task: Record the journal entries for the summarized operations below. Replace MMM with the Month, DD with the Day, and the Xs with amounts:
a MMM DD Materials
Accounts Payable
b
DD Work in Process
Factory Overhead
Materials
c DD Work in Process
Factory Overhead
XXXX
Wages Payable
d DD Factory Overhead
XXXX
Accounts Payable
XXXX
e DD Factory Overhead
X XXX
Accumulated DepreciationEquipment
f DD Work in Process
Factory Overhead
g DD Finished Goods
Work in Process
h DD Cost of Goods Sold
Finished Goods
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