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There should be 9 journal entries. Question 5 Crawford Corporation incurred the following transactions. 1. 2. 3. 4. 5. Purchased raw materials on account $49,100.
There should be 9 journal entries.
Question 5 Crawford Corporation incurred the following transactions. 1. 2. 3. 4. 5. Purchased raw materials on account $49,100. Raw Materials of $44,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,900 was classified as indirect materials. Factory labor costs incurred were $61,900, of which $51,400 pertained to factory wages payable and $10,500 pertained to employer payroll taxes payable. Time tickets indicated that $55,300 was direct labor and $6,600 was indirect labor. Manufacturing overhead costs incurred on account were $81,900. Depreciation on the company's office building was $8,500. Manufacturing overhead was applied at the rate of 160% of direct labor cost. Goods costing $93,900 were completed and transferred to finished goods. Finished goods costing $76,400 to manufacture were sold on account for $105,700. 6. 7. 8. 9. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)Step by Step Solution
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