Journalize transactions.
The rest of the last transaction on January 31, reads:
Applied factory overhead using the appropriate rate. This job will not be completed until March.
The company began the job today. $4.93620 direct materials to Job Materials Requisition No. Jan. 11 Paid Light Inc. s18.200.00 in payment of the December 31 balance. Jan 24 GT Corporation the mount dug today from the purchase. II Applied s2 of direct 402. (Materials 2s Applied s3.320.00 of direct labor 12 Received a check from Go Paddle Sales Company for the amount due afier the will complete the job. Ticket No. 262) discount period has expired. 15 Applied of to Job No. 1404 (Materials Requisition No. 16830 Applied factory overhead using the 16 Purchased of factory supplies from $1.006.00 Keyz Supplies Inc. and paid cash. Transferred the completed job to the finishe 16 Applied S6,434.00 of direct labor to Job No. 26 sold and shipped Job No. 1402 to complete the job. Time appropriate customer. Refer to that 1405, which wil Cost Record for the total cost of the job Ticket No. 260) determine the selling price. Applied factory overhead using the appro- 26 Applied S 7,280.00 of direct labor to Job No. Transferred the completed job to the finished 1408, which will complete the job. Time Ticket No. 264) 16 Sold one Standard Cl (Competition) custom Applied factory overhead using the appro- stand up paddle (SUP board to a cash customer for $2,800.00 The cost of the goods Transferred the completed job to the finished shipped from finished goods inventory was S2,000.00. 29 Sold and shipped Job No. 1408 to 17 Requisitioned S2,235.00 of indirect materials and factory supplies to be used in all factory appropriate customer. Refer to the Job Cost jobs currently in process. (Materials Requi- Record for the total cost of the job for billing sition No. 1684) 17 Signed a contract with Extreme Board 29 Paid DH20 Corp. amount due in payment of Systems for the manufacture of 77 units R the January l balance. 1) custom stand up paddle (SUP) 29 a check from HP sUP Inc. for the amount due after the discount period has boards. The promise date is February 15. The company began the job today, applying S8440,000 of direct materials to Job No. 1407. (Materials Requisition No. 1685) 29 Paid Post Office S1.000.00 for postage added 17 Paid the sales manager of Hydro Paddle $285.24 to postage meter. Expense this amount. 29 Paid Telephone Company s500.00 for 18 Received a report from the treasurer that 29 Paid Island Signs & Advertising Company Blue Runner Sports Dealers, one of our customers, has declared bankruptcy. Wrote S2.000.00 for designing ads for our new the balance owed to Hydro Paddle Boards, Inc. by Blue Runner Sports Dealers. 8 sold and shipped Job No. 1405 to the Record Refer to determine for the total cost of the job to the selling price. S8,432.00 for Power and Light Company heat, power, and light. Allocate 25% of this amount to Electricity Expense and 75% to Factory Overhead. 31 Applied S2,000.00 of direct labor to Job No 1404. Time Ticket No. 266) Purchased $20,464.32 of direct materials from KC. Epoxy Supply Company, credit terms net 30 day Applied factory overhead using the appro- units R2 a job for the manufacture of 28 (Raci 2- SUP) for Four Designers. ing The promise date is January 31 until February 31 Applied s844000 of direct labor to Job Time Ticket No. 268)
