Magnolia

Company makes artificial flowers and reports the following data for the month:

1(Click

the icon to view the data.)

Journalize the entries relating to materials and labor. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

Begin by journalizing the entry for the purchase of materials on account.

Date			Accounts and Explanation	Debit	Credit
			(1)
			(2)
			(3)
			(4)
			(5)

Next, journalize the entry to record raw materials used in production.

Date			Accounts and Explanation	Debit	Credit
			(6)
			(7)
			(8)
			(9)
			(10)

Finally, journalize the entry to record the labor incurred in production but not yet paid.

Date			Accounts and Explanation	Debit	Credit
			(11)
			(12)
			(13)
			(14)
			(15)

1: Data Table

Purchases of materials, on account	$50,000
Materials requisitions:
Direct materials	38,200
Indirect materials	1,000
Labor incurred (not yet paid):
Direct labor	26,400
Indirect labor	1,620

(1)

Accounts Payable

Accounts Receivable

Cash

Cost of Goods Sold

Finished Goods Inventory

Manufacturing Overhead

Raw Materials Inventory

Sales Revenue

Wages Payable

Work-in-Process Inventory

(2)

Accounts Payable

Accounts Receivable

Cash

Cost of Goods Sold

Finished Goods Inventory

Manufacturing Overhead

Raw Materials Inventory

Sales Revenue

Wages Payable

Work-in-Process Inventory

(3)

Accounts Payable

Accounts Receivable

Cash

Cost of Goods Sold

Finished Goods Inventory

Manufacturing Overhead

Raw Materials Inventory

Sales Revenue

Wages Payable

Work-in-Process Inventory

(4)

Accounts Payable

Accounts Receivable

Cash

Cost of Goods Sold

Finished Goods Inventory

Manufacturing Overhead

Raw Materials Inventory

Sales Revenue

Wages Payable

Work-in-Process Inventory

(5)

Adjusted MOH for underallocated overhead.

Allocated overhead to WIP.

Completed jobs, costs assigned to FG.

Incurred labor, direct labor assigned to WIP, indirect labor accumulated in MOH.

Incurred overhead, costs accumulated in MOH.

Purchased materials, accumulated in RM.

Sold jobs, costs assigned to COGS.

Sold jobs on account.

Used materials, direct materials assigned to WIP, indirect materials accumulated in MOH.

(6)

Accounts Payable

Accounts Receivable

Cash

Cost of Goods Sold

Finished Goods Inventory

Manufacturing Overhead

Raw Materials Inventory

Sales Revenue

Wages Payable

Work-in-Process Inventory

(7)

Accounts Payable

Accounts Receivable

Cash

Cost of Goods Sold

Finished Goods Inventory

Manufacturing Overhead

Raw Materials Inventory

Sales Revenue

Wages Payable

Work-in-Process Inventory

(8)

Accounts Payable

Accounts Receivable

Cash

Cost of Goods Sold

Finished Goods Inventory

Manufacturing Overhead

Raw Materials Inventory

Sales Revenue

Wages Payable

Work-in-Process Inventory

(9)

Accounts Payable

Accounts Receivable

Cash

Cost of Goods Sold

Finished Goods Inventory

Manufacturing Overhead

Raw Materials Inventory

Sales Revenue

Wages Payable

Work-in-Process Inventory

(10)

Adjusted MOH for underallocated overhead.

Allocated overhead to WIP.

Completed jobs, costs assigned to FG.

Incurred labor, direct labor assigned to WIP, indirect labor accumulated in MOH.

Incurred overhead, costs accumulated in MOH.

Purchased materials, accumulated in RM.

Sold jobs, costs assigned to COGS.

Sold jobs on account.

Used materials, direct materials assigned to WIP, indirect materials accumulated in MOH.

(11)

Accounts Payable

Accounts Receivable

Cash

Cost of Goods Sold

Finished Goods Inventory

Manufacturing Overhead

Raw Materials Inventory

Sales Revenue

Wages Payable

Work-in-Process Inventory

(12)

Accounts Payable

Accounts Receivable

Cash

Cost of Goods Sold

Finished Goods Inventory

Manufacturing Overhead

Raw Materials Inventory

Sales Revenue

Wages Payable

Work-in-Process Inventory

(13)

Accounts Payable

Accounts Receivable

Cash

Cost of Goods Sold

Finished Goods Inventory

Manufacturing Overhead

Raw Materials Inventory

Sales Revenue

Wages Payable

Work-in-Process Inventory

(14)

Accounts Payable

Accounts Receivable

Cash

Cost of Goods Sold

Finished Goods Inventory

Manufacturing Overhead

Raw Materials Inventory

Sales Revenue

Wages Payable

Work-in-Process Inventory

(15)

Adjusted MOH for underallocated overhead.

Allocated overhead to WIP.

Completed jobs, costs assigned to FG.

Incurred labor, direct labor assigned to WIP, indirect labor accumulated in MOH.

Incurred overhead, costs accumulated in MOH.

Purchased materials, accumulated in RM.

Sold jobs, costs assigned to COGS.

Sold jobs on account.

Used materials, direct materials assigned to WIP, indirect materials accumulated in MOH.