Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please help me fill out the blanks! thank you Sunland Corporation incurred the following transactions. 1. 2. 3. 4. Purchased raw materials on account $53,000
please help me fill out the blanks! thank you
Sunland Corporation incurred the following transactions. 1. 2. 3. 4. Purchased raw materials on account $53,000 Raw Materials of $41,800 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,700 was classified as indirect materials. Factory labor costs incurred were $60,500, of which $50,600 pertained to factory wages payable and $9,900 pertained to employer payroll taxes payable. Time tickets indicated that $54,800 was direct labor and $5,700 was indirect labor, Manufacturing overhead costs incurred on account were $84,800. Depreciation on the company's office building was $9,000, Manufacturing overhead was applied at the rate of 160% of direct labor cost. Goods costing $94,200 were completed and transferred to finished goods. Finished goods costing $78,200 to manufacture were sold on account for $109,000 5. 6. 7. 8. 9. No. Account Titles and Explanation Debit Credit (1) (2 (2) (3) (4) (5) (6) (7) (8) (9) To record the sale Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started