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Question : (9 marks) (BI, CI) Ahlia Corporation had the following transactions during its first month of operations: 1. Purchased raw materials on account. $95,200.

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Question : (9 marks) (BI, CI) Ahlia Corporation had the following transactions during its first month of operations: 1. Purchased raw materials on account. $95,200. 2. Raw Materials of $40,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $10,000 was classified as indirect materials. 3. Factory labor costs incurred were $180,000 of which $160,000 pertained to factory wages payable and $20,000 pertained to employer payroll taxes payable. 4. Time tickets indicated that $140,000 was direct labor. 5. Incurred the following overhead costs during the year. Utilities $7,800, Depreciation on manufacturing machinery $10,000. 6. Manufacturing overhead was applied at the rate of 150% of direct material cost. Instructions Journalize the above transactions for Ahlia Corporation

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