Business, 26.02.2020 04:11, ayoismeisalex
Prepare summary journal entries to record the following transactions for a company in its first month of operations.
a. Raw materials purchased on account, $94,000.
b. Direct materials used in production, $40,500.
c. Indirect materials used in production, $25,000.
d. Paid cash for factory payroll, $70,000.
e. Of this total, $50,000 is for direct labor and $20,000 is for indirect labor.
f. Paid cash for other actual overhead costs, $7,875.
g. Applied overhead at the rate of 125% of direct labor cost.
h. Transferred cost of jobs completed to finished goods, $74,000.
i. Sold jobs on account for $105,000. The jobs had a cost of $74,000.
Answers: 3
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Business, 22.06.2019 22:30, nevejames07
Experts are particularly concerned about four strategic metal resources that are important for the u. s. economy and military strength, and that must be imported. what percentage does the u. s. import? *
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Prepare summary journal entries to record the following transactions for a company in its first mont...
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