Reference no: EM131680428
Question -
During January 2017, Alpha Company began & completed work on its only Job No. A1. On January 2, Alpha purchased, on account, $10,800 of raw materials and placed into the work order a total of $10,000 of direct material. Alpha also used 2,000 machine hours, and employed $19,200 of direct labor costs. Alpha Company applies manufacturing overhead at a predetermined rate of $12 per machine hour used.
Use this information to prepare the January 31 General Journal entries, without explanations, for the: (Round any final dollar answers to the nearest whole dollar. All journal entries except the purchase of raw material & sales will have the transaction date of January 31, 2017):
1. to purchase the raw materials
2. to record all costs used in the production of Job A1
3. to record the completion Job A1
4. to record the February 5 sales transaction, on account, of Job A1 to the customer for the sales price of $75,000
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