Prepare the journal entries for requisitioning all materials used during the month.blankAccountDebitCreditblank Prepare the journal entries for direct labor for the month. Assume the workers have not been paid yet. During February, Alexander Inc. worked on two jobs with the following data:Job 12Job 13210unitsUnits in each orderUnits sold60units140unitsMaterials requisitioned$2,540Direct labor hours840hrs.Direct labor cost$11,300Overhead is assigned on the basis of direct labor hours at a rate of $10. During February, Job 12 was completed and transferred to finished goods. Job 13 is the onlyunfinished job at the end of the month.$1,7901,110hrs.$17,420

Finished Goods -Finished goods are products that have been purchased in a completed state or that…

Answered: each order old Is requisitioned Job 12…

Business

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each order old Is requisitioned Job 12 60units 140units $2,540 Job 13 210units $1,790

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Prepare the journal entries for requisitioning all materials used during the month.

blank	Account	Debit	Credit
blank

Prepare the journal entries for direct labor for the month. Assume the workers have not been paid yet.

During February, Alexander Inc. worked on two jobs with the following data:
Job 12
Job 13
210units
Units in each order
Units sold
60units
140units
Materials requisitioned
$2,540
Direct labor hours
840hrs.
Direct labor cost
$11,300
Overhead is assigned on the basis of direct labor hours at a rate of $10. During February, Job 12 was completed and transferred to finished goods. Job 13 is the only
unfinished job at the end of the month.
$1,790
1,110hrs.
$17,420

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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