Prepare journal entries to record transactions a through h. a. Raw materials purchased on credit, $82,000. b. Direct materials used, $37,500. Indirect materials used, $17,200. c. Direct labor used, $30,000. Indirect labor used, $10,000. (Record using Factory Wages Payable.) d. Paid cash for other actual overhead costs, $7,125. e. Applied overhead at the rate of 125% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $54,400. g. Sales of jobs on credit was $77,000. h. Cost of jobs sold was $54,400.

Prepare journal entries to record transactions a through h. a. Raw materials purchased on credit, $82,000. b. Direct materials used, $37,500. Indirect materials used, $17,200. c. Direct labor used, $30,000. Indirect labor used, $10,000. (Record using Factory Wages Payable.) d. Paid cash for other actual overhead costs, $7,125. e. Applied overhead at the rate of 125% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $54,400. g. Sales of jobs on credit was $77,000. h. Cost of jobs sold was $54,400.

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Description: Prepare journal entries to record transactions a through h.a. Raw materials purchased on credit, $82,000.b. Direct materials used, $37,500. Indirect materials used, $17,200.c. Direct labor used, $30,000. Indirect labor used, $10,000. (Record using F

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 8SPA: JOURNAL ENTRIES FOR MATERIAL, LABOR, AND OVERHEAD Eto Manufacturing had the following transactions...

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