Crawford Corporation incurred the following transactions. (i) Purchased raw materials on account OMR86,300. (ii) Raw materials of OMR73,900 were requisitioned to the factory. An analysis of the materials requisition slips indicated that OMR6,800 was classified as indirect materials. (iii) Factory labor costs incurred were OMR53,900, of which OMR51,000 pertained to factory wages payable and OMR2,900 pertained to employer payroll taxes payable. (iv) Time tickets indicated that OMR4,000 was indirect labor and OMR49,900 was direct labor. (v) Manufacturing overhead costs incurred on account were OMR85,500. (vi) Manufacturing overhead was applied at the rate of 110% of direct labor cost. (vii) Goods costing OMR98,000 were completed. (viii) Finished goods costing OMR95,000 to manufacture were sold for cash for OMR113,000. Instructions: Journalize the transactions. (Omit explanations.)
Q.2. Crawford Corporation incurred the following transactions.
(i) Purchased raw materials on account OMR86,300.
(ii) Raw materials of OMR73,900 were requisitioned to the factory. An analysis of the materials requisition slips indicated that OMR6,800 was classified as indirect materials.
(iii)
(iv) Time tickets indicated that OMR4,000 was indirect labor and OMR49,900 was direct labor.
(v) Manufacturing
(vi) Manufacturing overhead was applied at the rate of 110% of direct labor cost.
(vii) Goods costing OMR98,000 were completed.
(viii) Finished goods costing OMR95,000 to manufacture were sold for cash for OMR113,000.
Instructions:
Journalize the transactions. (Omit explanations.)
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