Illustrate the effects on the accounts and financial statements of each of the following transactions for a company using a job order cost system:

(a)Materials purchased on account$186,000

(b)Materials requisitioned:

For production orders 161,500

For general factory use 8,700

(c)Factory labor used:

On production orders 139,800

For general factory purposes 9,000

(d)Depreciation on factory equipment 40,000

(e)Factory overhead applied, based on machine hours 97,650

(f)Jobs finished 406,000

(g)Jobs shipped to customers: cost, $394,000; selling price 580,000

Enter an increase in Accumulated Depreciation as a negative value. In all other cases, enter increases in accounts as positive values and decreases as negative values. If an answer cell does not require an entry, leave it blank.

Student Portal | Ashford Universit X CengageNOWv2 | Online teachin X d How to Calculate Overhead Alloc X C Solved: The Following Information X Course Hero X + X -CD v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=assignment-take&inprogress=false B Week 1 Quiz Calculator b) Materials requisitioned: 1. EX. 10-118 For production orders 161,500 2. EX.10-117 For general factory use 8,700 (c) Factory labor used: 3. EX. 10-116 On production orders 139,800 For general factory purposes 9,000 4. EX. 10-115 (d) Depreciation on factory equipment 40,000 5. EX.10-114 (e) Factory overhead applied, based on machine hours 97,650 (f) Jobs finished 406,000 6. EX.10-113 [g) Jobs shipped to customers: cost, $394,000; selling price 580,000 7. MC. 10-112 Enter an increase in Accumulated Depreciation as a negative value. In all other cases, enter increases in accounts as positive values and decreases as negative values. If an answer cell does not require an entry, leave it blank. 8. MC.10-111 Assets = Liabilities + Stockholders' Equity 9. MC. 10-110 Accounts Rec. Factory Overhead Materials Inventory Work in Process Finished Goods Accumulated Depreciation Accounts Payable Wages Payable Stockholders' Equity 10. MC.10-109 X 11. MC.10-108 b. X X 12. MC.10-107 C. X X x 13. MC. 10-106 d. X 14. MC. 10-105 e. X 15. MC.10-104 f . X X 16. MC.10-103 g. 1x 17. MC.10-102 X x 18. MC.10-101 Effect on Statement of Cash Flows Effect on Income Statement 19. MC.10-100 (Select "No Effect" if nothing will be reported) (Select "No Effect" if nothing will be reported No Effect v O V Sales V 1 x 20. MC.10-099 Cost of Goods Sold v x 21. MC. 10-098 Progress: 2/31 items Check My Work Previous Next All work saved. Email Instructor Save and Exit Submit Test for Grading