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Prepare journal entries for the following: a) Requisitioned into production $50,000 direct material & $5,000 indirect material. b) Recorded $50,000 direct labor and $10,000 indirect
Prepare journal entries for the following: a) Requisitioned into production $50,000 direct material & $5,000 indirect material. b) Recorded $50,000 direct labor and $10,000 indirect labor on account. c) Recorded $8,000 for factory electricity on account. d) Applied OH at 60% of DL cost. e) Closed over or under applied OH to COGS
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