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Pental Manufacturing Company incurred the following transactions during the year, a. Purchased raw materials on account, $56,500. b. Requisitioned raw materials of $34,400 to the
Pental Manufacturing Company incurred the following transactions during the year, a. Purchased raw materials on account, $56,500. b. Requisitioned raw materials of $34,400 to the factory, which included $9,500 of indirect materials. c. Accrued factory labor costs of $83,800, which included $18.200 of indirect labor. The workers have not yet been paid. d. Incurred actual manufacturing overhead costs (on account) of $114,000. e. Recorded depreciation for office equipment of $13,000. Manufacturing overhead was applied at the rate of 150% of direct labor cost. g. Completed jobs costing $138,000. h. Sold jobs costing $94,000 for $117.500 on account. Required: 1. Journalize transactions a-h. 2. Compute the over-or underapplied overhead. 3. Prepare the journal entry to transfer the over- or underapplied balance to Cost of Goods Sold. 4. Compute adjusted cost of goods sold. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Journalize transactions a-h(If no entry is required for a transaction/event, select "No Journal Entry Required in the first account Meld. View transaction list Journal entry worksheet 4 5 6 78 9 >
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