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Thank you! No. Account Titles and Explanation Debit Credit (1) Raw Materials Inventory 110700 Accounts Payable 110700 (2) Factory Labor 86100 Employer Payroll Taxes Payable
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No. Account Titles and Explanation Debit Credit (1) Raw Materials Inventory 110700 Accounts Payable 110700 (2) Factory Labor 86100 Employer Payroll Taxes Payable 19680 Factory Wages Payable 66420 (3) Manufacturing Overhead Raw Materials Inventory 20900 Factory Labor 24600 Depreciation Expense 14760 Accounts Payable 19680 e Textbook and Media Prepare the journal entries to record the assignment of (1) direct materials, (2) direct labor, and (3) manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in (a). (Credit account titles ar automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit Work in Process Inventory Raw Materials Inventory (2) Work in Process Inventory Factory Labor (3) Work in Process Inventory Manufacturing Overhead e Textbook and Media Open job cost sheets for Jobs 50,51, and 52. Enter the January 1 balances on the job cost sheet for Job 50. Post all costs to the job cost sheets as necessary. Job No. 50 Date Direct Materials Direct Labor Manufacturing Overhead Beg. 24600 $ Jan. $ $ Cost of completed job Direct materials Direct labor Manufacturing overhead Total cost $ Job No.51 Date Direct Materials Direct Labor Manufacturing Overhead Jan. $ LA $ $ $ $ Cost of completed job Direct materials Direct labor Manufacturing overhead Total cost $ Job No. 52 Date Direct Materials Direct Labor Manufacturing Overhead Jan. $ $ Prepare the journal entry to record the completion of any job(s) during the month. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Finished Goods Inventory Work in Process Inventory e Textbook and Media List of Accounts Prepare the journal entries to record the sale of any job(s) during the month. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit Accounts Receivable Sales Revenue (To record sale of jobs) (2) Cost of Goods Sold Finished Goods Inventory (To record cost of jobs) What is the balance in the Finished Goods Inventory account at the end of the month? What does this balance consist of? Finished Goods Inventory $ e Textbook and Media List of Accounts What is the amount of over-or underapplied overhead? Manufacturing Overhead $ Underapplied e Textbook and MediaStep by Step Solution
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