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post all journal entries to related t-accounts. (if you could double check my journal entries that would be awesome too:) Raw materials issued from the
post all journal entries to related t-accounts. (if you could double check my journal entries that would be awesome too:)
Raw materials issued from the storeroom for use in production: $130,000 180% direct materials and 20% indirect materials). ) Employee salaries and wages paid in cash were as follows: Direct Labor (WIP): \$183,000; Indirect Labor (Man OH): \$68,000; Selling, General and ) Utility Costs incurred in the factory and paid in cash (manufacturing overhead--indirect cost): $24.000. 0 D Depreciation: $80,000 (90\% related to factory assets and considered manufacturing overhead; 10% related to corporate assets and considered a period type depreciation expense). Estimated Manufacturing Overhead applied to jobs in W-I-P at a predetermined overhead rate of $5.50 per unit produced. 35,000 units produced in the current vear. Costs of goods transferred from W-I-P to Finished Goods totaled Sales for the year totaled $1,512,000 and were all in cash. The total cost to produce these goods was $351,000 and were transferred from Finished Goods to Cost of Goods Sold. IE to record SalesStep by Step Solution
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