Question
Records extracted from the books of Transatlantic Corporation for 2019 1. Purchase $20,000 of raw materials for cash 2. Requisitioned $17,000 for production ($12,000 for
Records extracted from the books of Transatlantic Corporation for 2019
1. Purchase $20,000 of raw materials for cash
2. Requisitioned $17,000 for production ($12,000 for job A and $12,000 for job Z)
3. The Company incurs labor cost for work done on the raw materials ($8,000 for job A and $2,000 for job Z)
4. $100 of glue is used to build the units, the glue cannot be traced to specific jobs
5. The company incurs $2,000 of salary cost for its production supervisor
6. The Company incurs $900 of janitorial for its factory
7. The Company incurs $700 of janitorial for its sales department
8. The factory incurs $4,000 cost of rent
9. The Company applies $5,000 of manufacturing overhead to job A
The Company applies $1,000 of manufacturing overhead to job Z
10. The job A is completed
11. The Job A is sold
Required:
Post journal entries for the above information for year 2019
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