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Need help w filling blanks ! Thank you Question 3 of 5 - /20 Crane Corporation incurred the following transactions. 1. 2. 3. 4. Purchased
Need help w filling blanks ! Thank you
Question 3 of 5 - /20 Crane Corporation incurred the following transactions. 1. 2. 3. 4. Purchased raw materials on account $58,430. Raw Materials of $45,360 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8.660 was classified as indirect materials. Factory labor costs incurred were $75,520. Time tickets indicated that $68,040 was direct labor and $7.480 was indirect labor. Manufacturing overhead costs incurred on account were $101,430. Depreciation on the company's office building was $10,160. Manufacturing overhead was applied at the rate of 150% of direct labor cost. Goods costing $110,880 were completed and transferred to finished goods. Finished goods costing $94,500 to manufacture were sold on account for $129,780. 5. 6. 7. 8. 9. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Cred (1) Purchased raw materials (2) Direct materials Indirect mater (3) Factory Labor Question 3 of 5 > - /20 (4) Direct labor Indirect labor (5) Overhead (6) Assigned overhead (7) Complete jobs (8) Cost of Goods Sold (9) (To record the sale) Finished Goods Inventory (To record the cost of the sale) Step by Step Solution
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