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Josie Inc. has provided the following information for the year ended 20x8: Purchased raw materials on account for $122,000. Issued $114,900 in raw materials to
Josie Inc. has provided the following information for the year ended 20x8:
- Purchased raw materials on account for $122,000.
- Issued $114,900 in raw materials to production ($20,700 were not traceable to specific jobs).
- Incurred $100,751 in direct labor costs (14,393 hours) and $61,100 in supervision costs (paid in cash).
- Incurred the following additional manufacturing overhead costs: factory lease $22,100 (paid in cash); depreciation on equipment $18,300; custodial supplies $6,000 (paid in cash).
- Incurred the following nonmanufacturing costs, both paid in cash: advertising $73,100; sales commissions $87,500.
- Applied manufacturing overhead to jobs in process at a rate of $10 per direct labor hour.
- Completed jobs costing a total of $344,200.
- Sold jobs for $425,000 on account. The cost of the jobs was $340,300.
- Closed the Manufacturing Overhead account balance.
Prepare the journal entries to record these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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