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PLEASE ANSWER THIS ASAP!! 3 Extra Credit (Ch1-8, 35 points) Spring, 2019 cm 3. E3-41B Record journal entries (5 points) Following transactions were incurred by
PLEASE ANSWER THIS ASAP!!
3 Extra Credit (Ch1-8, 35 points) Spring, 2019 cm 3. E3-41B Record journal entries (5 points) Following transactions were incurred by Giregor Fabricators during January, the first month of its fiscal year Requirements 1. Record the proper journal entry for each transaction. a. b. $205,000 of materials was purchased on account. $170,000 of materials was used in production; of this amount, S152,000 was used on specific jobs. c. Manufacturing labor and salaries for the month totaled $255,000. $215,000 d. The company recorded $25,000 of depreciation on the plant and plant e. $79,000 of manufacturing overhead was allocated to specific jobs. of the total manufacturing labor and salaries was traced to specific jobs, and the remainder was indirect labor used in the factory equipment. The company also received a plant utility bill for $12,000 which will be paid at a later date. f. The company received a bill for CAD design services for $1,000. By the end of January, was manufacturing overhead overallocated or underallocated? By how much? 2 Step by Step Solution
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