Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
i would like to have help with the process to fill out the jornal entries? thank you! Check my work mode : This shows what
i would like to have help with the process to fill out the jornal entries? thank you! Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion Return Required information Problem 02-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 [The following information applies to the questions displayed below) Marcelino Co's March 31 inventory of raw materials is $87000 Raw materials purchases in April are $510,000, and factory payroll cost in April is $385,000 Overhead costs incurred in April are Indirect materials, $55.000 indirect labor, $28.000, factory rent, $39,000, factory utilities, 525.000; and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $650,000 cash in April. Costs of the three jobs worked on in April follow Job 306 Job 30 Job 307 $ 45,000 13,000 6,500 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct Labor Applied overhead Status on April 30 $ 27.000 23,000 11,500 133,000 100,000 210,000 153,000 $105,000 104,000 Finished (sold) Finished (unsold) In process GO 2 3 ASSigrent on any underappred or overdopied overed to the LOSEOIGOODS Suru a Loule amount is Prepare journal entries for the month of April to record the above transactions. Answer is not complete. No Transaction General Journal Debit Credit Raw materials inventory Accounts payable 510,000 510,000 12 Work in process inventory Raw materials inventory B7000 Work in process inventory Cash d Factory overhead Cash
i would like to have help with the process to fill out the jornal entries? thank you!
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started