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this is not a test question this is for homework HMWRK Test 2-Job Order Costing 1. We had the following activities during its most recent
this is not a test question this is for homework
HMWRK Test 2-Job Order Costing 1. We had the following activities during its most recent period of operations: a. Purchased raw materials on account for $140.000 (both direct and indirect materials are recorded in the Raw Materials Inventory account). b. Issued raw materials to production of $130,000 (80% direct and 20% indirect). C. Incurred and paid factory labor costs of $250,000 cash; allocated the factory labor costs to produ ction (70% direct and 30% indirect). d. Incurred factory utilities costs of $20,000; this amount is still payable. e. Applied overhead at 80% of direct labor costs. f.Recorded factory depreciation, $22,000. g. Transferred completed product with a cost of $400,000 to finished goods. h. Sold products for $350,000 cash. It had a cost of $275,000 i. Adjusted the FOH accountStep by Step Solution
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