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Question 10 The following manufacturing costs were incurred: 1. Materials purchased on account were $256,400, and wages for factory workers were $111,460. 2. Materials requisitioned
Question 10 The following manufacturing costs were incurred: 1. Materials purchased on account were $256,400, and wages for factory workers were $111,460. 2. Materials requisitioned and factory labour used by each job were as follows: Job Number Materials A1 A2 Factory Labour $28,700 34,300 17,400 25,700 5,360 $43,380 33,420 39,530 39,280 3,140 A3 A4 General factory use Total 158,750 111,460 3. Manufacturing overhead costs incurred on account were $69,600. 4. Depreciation on machinery and equipment was $16,820. 5. The manufacturing overhead rate is 75% of the direct labour cost. Prepare entries for manufacturing costs and assigning costs to production. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record purchases of raw materials on account) (To record factory labour costs) (To record manufacturing overhead costs) (To assign factory labour to production) (To assign raw materials to production) (To assign overhead to production)
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