Answered step by step
Verified Expert Solution
Question
1 Approved Answer
It is using the numbers given above to create journal entries there as follows: yeac: a. Raw metetais were purchased on accourit 3200.000 b. Raw
It is using the numbers given above to create journal entries
there as follows: yeac: a. Raw metetais were purchased on accourit 3200.000 b. Raw materials were requisitioned for use in production: $199,000 (tlow dieect and 20% indirect e. The following costs were incurred for employee services: d. Heat, power, and water costs were incurred in the foctory, $43,800 e. Prepaid insurance explred during the year; \$11,300 (90\%, relates to foctory operatons, and 10%, relates to sehing and administrative activitiess). f. Advertising costs were incuried, $51,800. activities). h. Manufactufing overhead cost was applled to production. The company recorded 40,000 machine-hours for the year. 1. Goods that cost 5501,600 to manufacture according to their job cost sheets wete transferred to the finistred gocis warehouse. 1. Sales for the year totalled $763,000 and were all on account. The total cost to manufacture these foods according to their fob cost sheets was $493,000. Journal entry worksheet Journal entry worksheet 567 Record the costs that were incurred for employee services. Noter Enter debits before credits. Journal entry worksheet 567 Record the costs that were incurred for employee services. Notet Enter debits before credits. Journal entry worksheet Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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