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Oriole Manufacturing Company uses a job order cost system and keeps perpetual inventory records. June 1 Purchased raw materials for $22,000 on account. 8
Oriole Manufacturing Company uses a job order cost system and keeps perpetual inventory records. June 1 Purchased raw materials for $22,000 on account. 8 Raw materials requisitioned by production: $8,800 Direct materials Indirect materials 1,100 Paid factory utilities, $2,310 and repairs for factory equipment, $8,800. 15 25 Incurred $88,000 of factory labor. 25 Time tickets indicated the following Direct Labor (7.000 hrs x $10 per hr) $70,000 Indirect Labor (3,000 hrs x $6 per hr) 18,000 $88,000 25 25 28 220 30 Applied manufacturing overhead to production based on a predetermined overhead rate of $5 per direct labor hour worked. Goods costing $18,650 were completed in the factory and were transferred to finished goods inventory. Goods costing $15,650 were sold for $20.650 on account Prepare journal entries to record the above transactions during the month of June. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles and Fynlanatio
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