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The following events occurred during March for Ajax Company. Materials were purchased on account for $35,425. Materials were requisitioned to begin work on Job C15
The following events occurred during March for Ajax Company.
- Materials were purchased on account for $35,425.
- Materials were requisitioned to begin work on Job C15 in the amount of $25,261.
- Direct labor expense for Job C15 was $24,128.
- Actual overhead was incurred on account of $32,849.
- Factory overhead was charged to Job C15 at the rate of 200% of direct labor.
- Job C15 was transferred to finished goods at $97,645.
- Job C15 was sold on account for $403,000.
Prepare a journal entry for each transaction. If an amount box does not require an entry, leave it blank.
A. | Raw Materials Inventory | fill in the blank 2 | fill in the blank 3 |
Accounts Payable | fill in the blank 5 | fill in the blank 6 | |
B. | Work in Process Inventory | fill in the blank 8 | fill in the blank 9 |
Raw Materials Inventory | fill in the blank 11 | fill in the blank 12 | |
C. | Work in Process Inventory | fill in the blank 14 | fill in the blank 15 |
Factory Wages Payable | fill in the blank 17 | fill in the blank 18 | |
D. | Manufacturing Overhead | fill in the blank 20 | fill in the blank 21 |
Accounts Payable | fill in the blank 23 | fill in the blank 24 | |
E. | Work in Process Inventory | fill in the blank 26 | fill in the blank 27 |
Manufacturing Overhead | fill in the blank 29 | fill in the blank 30 | |
F. | Finished Goods Inventory | fill in the blank 32 | fill in the blank 33 |
Work in Process Inventory | fill in the blank 35 | fill in the blank 36 | |
G. | Cost of Goods Sold | fill in the blank 38 | fill in the blank 39 |
Finished Goods Inventory | fill in the blank 41 | fill in the blank 42 | |
Accounts Receivable | fill in the blank 44 | fill in the blank 45 | |
Sales | fill in the blank 47 | fill in the blank 48 |
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