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Please help me with both questions.. thank you so much!!! 1 25 points a. Raw materials of $85,000 were purchased on account. b. Raw materials
Please help me with both questions.. thank you so much!!!
1 25 points a. Raw materials of $85,000 were purchased on account. b. Raw materials of $83,000 were used in production. Of this amount. $75,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $122,500 were paid in cash. Of this amount, $101,500 was for direct labor and the remainder was for indirect labor. d. Depreciation incurred on factory equipment was $193,000. eBook Required: Record the above transactions in journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Print View transaction list References Journal entry worksheet $85,000 In raw materials were purchased on account. Note: Enter debits before credits. Transaction General Journal Debit Credit a. 2 All Seasons Heating & Cooling manufactures air conditioning unis for commercial buildings. All Seasons has provided the following data concerning last month's manufacturing operations. 25 points Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $30,000 $ 4,510 $58,400 $87,000 $ 4,030 eBook Inventories Raw materials Work in process Finished goods Beginning Ending $ 10,900 $ 18,600 $ 55,700 $ 65,600 $ 33,200 $ 42,900 Hint D Print Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. References Complete the question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month. All Seasons Heating & Cooling Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Raw materials used in production Total manufacturing costs Cost of goods manufactured Required 1 Required 2 Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. All Seasons Heating & Cooling Schedule of Cost of Goods SoldStep by Step Solution
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