N M R S V T w Santos Company is a manufacturing firm that uses job order costing. At the beginning of the year, the company's inventory balances were as follows: $24,000 RAW materials Bes Inventory Work-in- Process Job 1244 Finished poods Job 573.000 $270.000 The company charges payroll directly to the appropriate control account, it doesn't use a Payroll account. The company applies overhead to jobs The following transactions were recorded for the first week in January, 1. Raw materials were purchased, S112,000. (Charge Accounts Payable.) 2. No new jobs were started this week: all raw materials now available were requisitioned for use on job 1244. 3. Paid for the materials purchased in transaction (1). 4 The following love costs were incurred this week direct lahor $21 000 indirect labor and non actory artministrative salaries $1 Sheet1 322 ant. The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that for the y hours. Al the beginning of the year, the company timated that for the year it would work 40,000 machine hours and incur 51,000,000 in manufacturing wont the company charges payroll directly to the appropriate control accounts a Perro account. They e following transactions were recorded for the first week in January Raw materials were purchased, $112.000. (Charge Accounts Payable.) No new jobs were started this week: all raw materials now available were requisitioned for use on yob 124 Paid for the materials purchased in transaction (1) The following employee costs were incurred this week: direct labor, 121,000 indirect labor, 16.000; and non-actory Selling costs this week, 314,000 Factory utility costs this week, 520,000 This week, recognized depreciation of $2.400 on manufacturing property, plant, and equipment Manufacturing overhead was applied to Job 124. The actual level of activity for the week wasmachine-hours for each The Job 12-4 was completed on Thursday. On Friday, Job 11-5 was sold for $320,000 and Job 12-4 was sold for $340,000 quired epare the appropriate journal entry for each of the items above (t through 10). You can assume that all transactions with employees, comert, and N M R S V T w Santos Company is a manufacturing firm that uses job order costing. At the beginning of the year, the company's inventory balances were as follows: $24,000 RAW materials Bes Inventory Work-in- Process Job 1244 Finished poods Job 573.000 $270.000 The company charges payroll directly to the appropriate control account, it doesn't use a Payroll account. The company applies overhead to jobs The following transactions were recorded for the first week in January, 1. Raw materials were purchased, S112,000. (Charge Accounts Payable.) 2. No new jobs were started this week: all raw materials now available were requisitioned for use on job 1244. 3. Paid for the materials purchased in transaction (1). 4 The following love costs were incurred this week direct lahor $21 000 indirect labor and non actory artministrative salaries $1 Sheet1 322 ant. The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that for the y hours. Al the beginning of the year, the company timated that for the year it would work 40,000 machine hours and incur 51,000,000 in manufacturing wont the company charges payroll directly to the appropriate control accounts a Perro account. They e following transactions were recorded for the first week in January Raw materials were purchased, $112.000. (Charge Accounts Payable.) No new jobs were started this week: all raw materials now available were requisitioned for use on yob 124 Paid for the materials purchased in transaction (1) The following employee costs were incurred this week: direct labor, 121,000 indirect labor, 16.000; and non-actory Selling costs this week, 314,000 Factory utility costs this week, 520,000 This week, recognized depreciation of $2.400 on manufacturing property, plant, and equipment Manufacturing overhead was applied to Job 124. The actual level of activity for the week wasmachine-hours for each The Job 12-4 was completed on Thursday. On Friday, Job 11-5 was sold for $320,000 and Job 12-4 was sold for $340,000 quired epare the appropriate journal entry for each of the items above (t through 10). You can assume that all transactions with employees, comert, and
