Question
Need help journaling these transactions Jan. 16 Purchased$1,486.00 offactorysuppliesfrom Keys Supplies Inc.and paidcash. 16 Applied$6,834.00ofdirectlabortoJobNo. 1405,whichwillcompletethejob.(Time Ticket No. 260) 8% FICA tax , 15% Employee
Need help journaling these transactions
Jan. 16 Purchased$1,486.00 offactorysuppliesfrom Keys Supplies Inc.and paidcash.
16 Applied$6,834.00ofdirectlabortoJobNo. 1405,whichwillcompletethejob.(Time Ticket No. 260)
8% FICA tax , 15% Employee Income Tax
Applied factory overhead using the appropriate rate.
Transferredthecompletedjobtothefinished goods account.
16 SoldoneStandardC1(Competition)custom stand-uppaddle(SUP)boardtoacash customerfor$3,200.00.Thecostofthe goodsshippedfromfinishedgoodsinventory was $2,400.00.
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, G. Richard Chesley, Ray Carroll
6th Canadian Edition
0070915164, 9780070915169
