On May 7, Jernigan Company purchased on account 700 units of raw materials at $21 per unit. During May, raw materials were requisitioned for production as follows: 280 units for Job 200 at $18 per unit and 315 units for Job 305 at $21 per unit. Journalize the entry on May 7 to record the purchase. If an amount box does not require an entry, leave it blank.   Accounts Payable Factory Overhead Finished Goods Materials Wages Payable Work in Proces May 7   fill in the blank e5a440080fed06b_2 fill in the blank e5a440080fed06b_3     fill in the blank e5a440080fed06b_5 fill in the blank e5a440080fed06b_6 Journalize the entry on May 31 to record the requisition from the materials storeroom. If an amount box does not require an entry, leave it blank.   Accounts Payable Factory Overhead Finished Goods Materials Wages Payable Work in Process May 31   fill in the blank 79fb7dfb8fe0040_2 fill in the blank 79fb7dfb8fe0040_3     fill in the blank 79fb7dfb8fe0040_5 fill in the blank 79fb7dfb8fe0040_6

Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,500 and two jobs in process: Job No. 429 $2,000, and Job No. 430 $1,500. During May, a summary of source documents reveals the following. Job Number Materials Requisition Slips Labor Time Tickets 429 $2,500 $1,900 430 3,500 3,000 431 4,400 $10,400 7,600 $12,500 General use 800 1,200 $11,200 $13,700 Stine Company applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost. Job No. 429 is completed during the month. Prepare May 31 summary journal entries to record (1) the requisition slips, (2) the time tickets, (3) the assignment of manufacturing overhead to jobs, and (4) the completion of Job No. 429. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Ottoson Fencing Inc. uses job order costing. The following data summarize the operations related to production for December, the first month of operations: a. Materials purchased on account, $50,000. b. Materials requisitioned and factory labor used: Job 301 302 303 304 305 306 For general factory use Job Machine Hours 301 302 303 c. Factory overhead costs incurred on account, $1,800. d. Depreciation of machinery and equipment, $2,700. e. The factory overhead rate is $40 per machine hour. Machine hours used: 304 305 306 Total 30 60 41 63 70 36 Materials Factory Labor $1,850 $2,500 3,150 2,200 1,900 4,230 1,770 1,200 300 7,220 5,350 2,300 6,225 2,900 5,000 1. Jobs completed: 301, 302, 303, and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $9,000; Job 302, $16,150; Job 303, $12,800. Required: 1. Journalize the entries to record the summarized operations. Record each item (items a-f) as an individual entry on December 31. Record item g as 2 entries. 2. Post the…

In January, Wildhorse Tool & Die requisitions raw materials for production as follows: Job 1 $910, Job 2 $1,500, Job 3 $810, and general factory use $710. Prepare a summary journal entry to record raw materials used. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 31 Debit Credit