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McKeever Auto EV manufactures parts for electric cars. McKeever Auto reports the following for September:TRANSACTIONAMcKeever Auto purchases $ 5 4 , 0 0 0 in

McKeever Auto EV manufactures parts for electric cars. McKeever Auto reports the following for September:TRANSACTIONAMcKeever Auto purchases $54,000 in raw materials on account/creditBMcKeever Auto pays $10,000 in cash for factory electricity.McKeever Auto owes its factory assembly line laborers $32,000(hint: has not paid them yet, but will in future)DMcKeever Auto paid $25,000 cash in Research and Development (R&D) costs.EMcKeever Auto incurs $35,000 in depreciation on factory equipment (hint: Accumulated Depreciation is Credit entry)FMcKeever Auto's monthly insurance on the factory building is $8,000. The insurance was paid in a lump sum payment in July (Hint: we used $8K from the prepaid insurance account, which is credit entry)GMcKeever Auto uses a total of $65,000 worth of raw materials in production. Of that amount, $7,000 is indirect materials like cleaning and maintenance supplies.HMcKeever Auto incurs $24,000 in indirect labor payroll for the production supervisor (wages have not been paid).-McKeever Auto paid $15,000 cash in marketing/advertising costs.JMcKeever Auto determines that $84,000 of manufacturing overhead should be applied to parts completed during September (Hint: Applied MOH is put in "process")KMcKeever Auto determines its cost of goods manufactured (COGM) during the month totals $200,000.McKeever Auto sells goods that cost a total of $210,000 to produce. The sales revenue generated from these sales equaled $600,000 and was collected in cash at the time of sale.MMcKeever Auto paid $20,000 cash for the CEO's Salary (not involved in production process)
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