Prepare journal entries for manufacturing cost

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Reference no: EM13336722

Question: During January, its first month of operations, Knox Company accumulated the following manufacturing cost: Raw materials $4,000 on account, Factory labor $6,000 of which $5,200 relates to factory wages payable and $800 relates to payroll taxes payable, and utilities payable $2,000.

Prepare separate journal entries for each type of manufacturing cost.

2331_Flowchart of Costs1.png

Reference no: EM13336722

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