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Kirk Manufacturing Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $3,800, Work in Process%u2014Cutting $2,900, Work in Process%u2014Assembly $10,800,
Kirk Manufacturing Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $3,800, Work in Process%u2014Cutting $2,900, Work in Process%u2014Assembly $10,800, and Finished Goods $31,400. During July, the following transactions occurred.
1. | Purchased $62,900 of raw materials on account. | |
2. | Incurred $56,400 of factory labor. (Credit Factory Wages Payable.) | |
3. | Incurred $70,400 of manufacturing overhead; $40,300 was paid and the remainder is unpaid. | |
4. | Requisitioned materials for Cutting $15,400 and Assembly $9,300. | |
5. | Used factory labor for Cutting $29,200 and Assembly $27,200. | |
6. | Applied overhead at the rate of $17 per machine hour. Machine hours were Cutting 1,200 and Assembly 1,900. | |
7. | Transferred goods costing $67,700 from the Cutting Department to the Assembly Department. | |
8. | Transferred goods costing $134,700 from Assembly to Finished Goods. | |
9. | Sold goods costing $150,300 for $200,400 on account. Journalize the transactions |
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