Question
PLEASE help on these questions! A) Cotton Manufacturing Co. uses a job order cost system and maintains inventories under the perpetual method. Prepare the journal
PLEASE help on these questions!
A) Cotton Manufacturing Co. uses a job order cost system and maintains inventories under the perpetual method. Prepare the journal entry for the purchase of raw materials on account for $250,000.
B) Cotton Manufacturing Co. uses a job order cost system and maintains inventories under the perpetual method. Prepare the journal entry to show Raw Materials of $182,000 ($105,000 direct; $77,000 indirect) requisitioned to the factory.
C) Cotton Manufacturing Co. uses a job order cost system and maintains inventories under the perpetual method. Journalize the entry to show factory labor incurred on account totaling $165,000.
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