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Prepare journal entries to record all of these transactions 2) The Button Box is a custom decorating and design store. The company prepares custom draperies
Prepare journal entries to record all of these transactions
2) The Button Box is a custom decorating and design store. The company prepares custom draperies to order for customers. The following transactions were incurred to support job number 759, custom drapes and furniture coverings for a luxury home: (a) Purchased $4,000 of materials on account. () Issued $200 supplies from the materials inventory. (c) Paid for the materials purchased in transaction (a) (d) Issued $3,200 of materials to the production department. (e) Incurred hourly labor to sew curtains of $1,500 and supervisor labor of $1,000. Supervisors are assigned to as many as 10 jobs at once. (f) Paid $2,000 for utilities and other miscellaneous items for the manufacturing plant (g) Overhead is applied at 200% of direct labor cost () Recorded depreciation on factory equipment of $1,000 and Sales director?s company car of $500Step by Step Solution
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