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XYZ company uses a job order system. The following data summarizes the operations related to production during the month of July. Assume $ 0 starting
XYZ company uses a job order system. The following data summarizes the operations
related to production during the month of July. Assume $ starting balances
Materials purchased for cash $
Materials requisitioned and factory labor used:
Materials Factory Labor
$ $
$ $
$ $
$ $
$ $
Other Factory overhead costs incurred on account $
Depreciation of factory machine and equipment $
The predetermied overhead rate is $ per machine hour.
Machine hours used for the period:
MH Used
Jobs completed for the period are Job and
Jobs shipped and billed were as follows:
Sales Amount
$
$
At the end of the month, over or under applied overhead is closed
to Cost of Goods Sold
Required: Journalize the required journal entries to record the above operations.
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