Warner Company purchases $51,600 of raw materials on account, and it incurs $65,700 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 31 (To record raw materials purchased) 31 (To record factory labor costs)

Warner Company purchases $51,600 of raw materials on account, and it incurs $65,700 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 31 (To record raw materials purchased) 31 (To record factory labor costs)

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 18E: Housley Paints Co. had a remaining debit balance of $25,000 in its under- and overapplied factory...

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Housley Paints Co. had a remaining debit balance of $25,000 in its under- and overapplied factory overhead account at year-end. The balance was deemed to be large and, therefore, should be closed to Work in Process, Finished Goods, and Cost of Goods Sold. The year-end balances of these accounts, before adjustment, showed the following: Determine the prorated amount of the underapplied factory overhead that is chargeable to each of the accounts. Prepare the journal entry to close the debit balance in Under-and Overapplied Factory Overhead.
Swifty Company purchases $50,700 of raw materials on account, and it incurs $64,000 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Date Mar. 31 31 Account Titles and Explanation (To record raw materials purchased) (To record factory labor costs) Debit Credit
Warner Company purchases $53,600 of raw materials on account, and it incurs $61,000 of factory labor costs.Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 31 (To record raw materials purchased) 31 (To record factory labor costs)
oriole company purchases $44, 000 of raw materials on account, and it incurs $52, 800 of factory labor costsOriole Company purchases $44,000 of raw materials on account, and it incurs $52, 800 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (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 Debit Credit Mar. 31 (To record raw materials purchased ) 31 (To record factory labor costs)
Blossom Company purchases $62,000 of raw materials on account, and it incurs $74,400 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (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 Mar. 31 31 (To record raw materials purchased) (To record factory labor costs) Debit Credit
In January, Pharoah Company requisitions raw materials for production as follows: Job 1$1,040, Job 2$1,280, Job 3720, and general factory use $640. 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 Debit Credit Jan. 31
Warner Company purchases $52,500 of raw materials on account, and it incurs $62,200 of the factory labor costs. Supporting records show that (a) the Assembly Department used $32,700 of raw materials and $42,200 of the factory labor, and (b) the Finishing Department used the remainder.Journalize the assignment of the costs to the processing departments on March 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 31 (To record materials used) 31 (To assign factory labor to production)
In January, Sandhill Company requisitions raw materials for production as follows: Job 1 $1,120, Job 2 $1,360, Job 3 $760, and general factory use $680. 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
In January, Cullumber Company requisitions raw materials for production as follows: Job 1 $1,200, Job 2 $1,440, Job 3 $800, and general factory use $720. 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
During January, its first month of operations, Sheridan Company accumulated the following manufacturing costs: raw materials purchased $5,200 on account, factory labor incurred $6,600, and factory utilities payable $2,400. Prepare separate journal entries for each type of manufacturing cost. (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 31 31 I (To record purchase of raw materials on account) (To record factory labor costs) (To record entry for utilities payable) eTextbook and Media Debit Credit
In January, Crane Company requisitions raw materials for production as follows: Job 1 $1,180, Job 2 $1,420, Job 3 $790, 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
In January, Carla Vista Company requisitions raw materials for production as follows: Job 1 $1,100, Job 2 $1,340, Job 3 $750, and general factory use $670. 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