Question
The following transactions occurred during April: a. Purchased materials on account at a cost of $136,000. b. Requisitioned materials at a cost of $122,000,
The following transactions occurred during April: a. Purchased materials on account at a cost of $136,000. b. Requisitioned materials at a cost of $122,000, of which $28,000 was for general factory use. Click to c. Recorded unpaid factory labor of $155,000, of which $24,000 was indirect. d. Incurred other costs: Click to add Selling expense $44,000 Factory utilities 26,000 Administrative expenses 15,000 Factory rent 30,000 Factory depreciation 24,000 e. Applied overhead at a rate equal to 135 percent of direct labor cost. f. Completed jobs costing $375,000. g. Sold jobs costing $402,000. h. Recorded sales revenue (on account) of $500,000. Required: Prepare all of Lamonda's necessary journal entries for the month of April.
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