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Northwest Inc. has provided the following information for 20x5: a. Purchased raw materials on account for $150,000. b. Issued $130,000 in raw materials to production
Northwest Inc. has provided the following information for 20x5: a. Purchased raw materials on account for $150,000. b. Issued $130,000 in raw materials to production ($34,000 were not traceable to specific jobs) Incurred $144,000 in direct labor costs (14,120 hours) and $62,500 in supervision costs (paid in cash). lepreciation on equipment $30,000; indirect supplies $13,500 (paid in cash). e. Incurred the following nonmanufacturing costs, both paid in cash: advertising $45,000; sales commissions $48,000. f. Applied manufacturing overhead to jobs in process at a rate of $13 per direct labor hour. g. Completed jobs costing a total of $415,000. h. Sold jobs for $625,000 on account. The cost of the jobs was $412,000. i. Closed the Manufacturing Overhead account balance. Prepare the journal entries to record these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 6 7 10 Record the purchase of raw materials on account. Note: Enter debits before credits. Event General Journal Debit Credit a View general journal Record entry Clear entry
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