Job Order Costing Transactions Stonestreet Enterprises makes garage doors. During the month of February, the company had four job orders: 205, 206, 207, and 208. Overhead was applied at predetermined rates, while actual factory overhead was recorded as incurred. All four jobs were completed. (a) Purchased raw materials on account, $44,000. (b) Issued direct materials to production: Job No. 205: $8,500 Job No. 206: 9,600 Job No. 207: 8,000 Job No. 208: 9,000 (c) Issued indirect materials to production, $5,700. (d) Incurred direct labor costs: Job No. 205: $5,400 Job No. 206: 4,600 Job No. 207: 5,200 Job No. 208: 5,500 (e) Charged indirect labor to production, $3,400. (f) Paid electricity, heating oil, and repair bills for the factory and charged to production, $5,300. (g) Applied factory overhead to each of the jobs using a predetermined factory overhead rate as follows: Job No. 205: $3,300 Job No. 206: 3,900 Job No. 207: 3,300 Job No. 208: 3,900 (h) Finished Job Nos. 205-208 and transferred to the finished goods inventory account as products L, M, N, and O, respectively. (i) Sold products L, M, N, and O, on account, for $21,000, $20,300, $19,000, and $20,500, respectively. Page: 1 DATE ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 1 a. Materials 44,000 0 1 2 Accounts Payable 44,000 2 3 3 4 b. Work in Process (Job No. 205) 8,500 04 Work in Process (Job No. 206) 9,600 0 5 6 Work in Process (Job No. 207) 8,000 0 6 7 Work in Process (Job No. 208) 9,000 0 7 8 Materials 0 35,100 8 9 9 10 c. Factory Overhead 11 Materials 5,700 0 0 10 5,700 11 12 12 13 d. Work in Process (Job No. 205) 5,400 0 13 14 Work in Process (Job No. 206) 4,600 014 15 Work in Process (Job No. 207) 5,200 16 Work in Process (Job No. 208) 5,500 015 016 17 Wages Payable 0 20,700 17 18 18 19 e. Factory Overhead 3,400 0 19 20 21 Wages Payable 0 3,400 20 21 22 f. Factory Overhead 23 Cash 5,300 022 0 5,300 23 24 24 25 9. Work in Process (Job No. 205) 3,300 0 25 26 Work in Process (Job No. 206) 3,900 026 24 24 25 9. Work in Process (Job No. 205) 3,300 0 25 26 Work in Process (Job No. 206) 3,900 0 26 27 Work in Process (Job No. 207) 3,300 0 27 28 29 Work in Process (Job No. 208) Factory Overhead 3,900 0 28 0 14,400 29 Feedback Check My Work A job order cost system provides a separate record of the cost of each individual product that is produced. Record Prepare general journal entries to record transactions (h) and (i) in page 2. Make separate entries for each Page: 2 DATE ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 1 h. Finished Goods (Product L) 0 1 2 Work in Process (Job No. 205) X 2 3 3 4 5 10 6 7 Finished Goods (Product M) Work in Process (Job No. 206) Finished Goods (Product N) 0 4 x 5 6 X 0 7 8 Work in Process (Job No. 207) X 8 9 9 10 Finished Goods (Product O) x 0 10 11 Work in Process (Job No. 208) X 11 12 12 13 i. Accounts Receivable 13 14 Sales 14 10 Finished Goods (Product O) 11 Work in Process (Job No. 208) 12 13 i 14 Accounts Receivable Sales 0 x 0 < 10 X 11 23 12 13 14 4 15 16 Cost of Goods Sold 17 Finished Goods (Product L) 18 19 Accounts Receivable Sales 15 Sales 27 28 29 30 20 21 24 25 26 222222222233 Cost of Goods Sold Finished Goods (Product M) Accounts Receivable Cost of Goods Sold Finished Goods (Product N) 31 Accounts Receivable 32 Sales 33 34 Cost of Goods Sold 35 Finished Goods (Product O) 16 17 18 19 20 21 24 25 26 27 28 29 30 31 222222222233 34 35 2. Post the entries to the work in process and finished goods T accounts only. Work in Process (b)-Job No.205 8,500 (h)-Job No.205 b)-Job No.206 9,600 (h)-Job No.206 (b)-Job No.207 8,000 (h)-Job No.207 (b)-Job No.208 9,000 (h)-Job No.208 (d)-Job No.205 5,400 (d)-Job No.206 4,600 (d)-Job No.207 5,200 (d)-Job No.208 5,500 (g)-Job No.205 3,300 (g)-Job No.206 3,900 (g)-Job No.207 3,300 (g)-Job No.208 3,900 Finished Goods (h)-Product L (i)-Product L (h)-Product M (i)-Product M (h)-Product N (i)-Product N (h)-Product O (i)-Product O