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Question # 3 : 2 5 Points ET Alloy Casting Company of Benicia, California, Inc. had the following transactions during its first month of operations:
Question #: Points
ET Alloy Casting Company of Benicia, California, Inc. had the following transactions
during its first month of operations:
Purchased raw materials on account, $
Raw Materials of $ were requisitioned to the factory. An analysis of the materials
requisition slips indicated that $ was classified as indirect materials.
Factory labor costs incurred were $ of which $ pertained to factory wages
payable and $ pertained to employer payroll taxes payable.
Time tickets indicated that $ was direct labor and $ was indirect labor.
Overhead costs incurred on account were $
Manufacturing overhead was applied at the rate of of direct labor cost.
Goods costing $ are still incomplete at the end of the month; the other goods were
completed and transferred to finished goods.
Finished goods costing $ to manufacture were sold on account for $
Instructions
Journalize the above transactions for ET Alloy Company. Omit Explanations
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