MA Required information Use the following information to answer questions (The following information applies to the...

Transcribed Image Text:

MA Required information Use the following information to answer questions (The following information applies to the questions displayed below] The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 30 Ray 31 Inventories Raw materials $29,000 $ Book Work in process 9,800 42,000 19,000 Finished goods 67,000 34,000 Hint Factory overhead Activities and information for Hay Factory payroll (paid with cash) Indirect materials Raw materials purchases (paid with cash) 197,000 150,000 Indirect labor 17,000 34,500 Priv Other overhead costs Sales (received in cash). Predetermined overhead rate based on direct labor cost 1,700,000 100,500 558 Exercise 19-8 Journal entries for materials LO P1 1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage. MA Required information Use the following information to answer questions (The following information applies to the questions displayed below] The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 30 Ray 31 Inventories Raw materials $29,000 $ Book Work in process 9,800 42,000 19,000 Finished goods 67,000 34,000 Hint Factory overhead Activities and information for Hay Factory payroll (paid with cash) Indirect materials Raw materials purchases (paid with cash) 197,000 150,000 Indirect labor 17,000 34,500 Priv Other overhead costs Sales (received in cash). Predetermined overhead rate based on direct labor cost 1,700,000 100,500 558 Exercise 19-8 Journal entries for materials LO P1 1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage.