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Prepare journal entries for the following: a) Requisitioned into production $50,000 direct material & $5,000 indirect material. b) Recorded $60,000 direct labor &13,000 indirect labor
Prepare journal entries for the following:
a) Requisitioned into production $50,000 direct material & $5,000 indirect material.
b) Recorded $60,000 direct labor &13,000 indirect labor on account.
c) Recorded $ 10,000 for factory electricity on account
d) Applied OH at 50% of DL$. Show computation.
e) Closed over/under applied OH to COGS. Show computations.
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