Sunland Corporation incurred the following transactions. 1. Purchased raw materials on account $53,000. 2. Raw Materials of $41,800 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,700 was classified as indirect materials. 3. Factory labor costs incurred were $60,500, of which $50,600 pertained to factory wages payable and $9,900 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,800 was direct labor and $5,700 was indirect labor. 5. Manufacturing overhead costs incurred on account were $84,800. 6. Depreciation on the company's office building was $9,000. 7. Manufacturing overhead was applied at the rate of 160% of direct labor cost. 8. Goods costing $94,200 were completed and transferred to finished goods. 9. Finished goods costing $78,200 to manufacture were sold on account for $109,000. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Sunland Corporation incurred the following transactions. 1. Purchased raw materials on account $53,000. 2. Raw Materials of $41,800 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,700 was classified as indirect materials. 3. Factory labor costs incurred were $60,500, of which $50,600 pertained to factory wages payable and $9,900 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,800 was direct labor and $5,700 was indirect labor. 5. Manufacturing overhead costs incurred on account were $84,800. 6. Depreciation on the company's office building was $9,000. 7. Manufacturing overhead was applied at the rate of 160% of direct labor cost. 8. Goods costing $94,200 were completed and transferred to finished goods. 9. Finished goods costing $78,200 to manufacture were sold on account for $109,000. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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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