Raw materials of 36000 were requisitioned to the factory an

Reference no: EM13599270

Bjerg Corporation incurred several costs. Prepare entries for manufacturing costs. Journalize the following transactions.

1. Purchased raw materials on account $46,300
2. Raw Materials of $36,000 were requisitioned to the factory. An analysis of the materials requisition slips indicates that $6,800 was classified as indirect materials.
3. Factory labor costs incurred were $53,900, of which $49,000 pertained to factory wages payable and $4,900 pertained to employer payroll taxes payable.
4. Time tickets indicated that $48,000 was direct labor and $5,900 was indirect labor.
5. Overhead costs incurred on account were $80,500.
6. Manufacturing overhead was applied at the rate of 150% of direct labor cost.
7. Goods costing $88,000 were completed and transferred to finished goods.
8. Finished goods costing $75,000 to manufacture were sold on account for $103,000.

Reference no: EM13599270

Questions Cloud

Using the lower-of-cost-or-market rule determine the proper : riegel company uses the lower-of-cost-or-market method on an individual-item basis in pricing its inventory items. the

What type of account is treasury stock what is its normal : what type of account is treasury stock? what is its normal balance? where is it reported in the financial statements?

Henries drapery service is investigating the purchase of an : henries drapery service is investigating the purchase of an new machine for cleaning and blocking drapes. the machine

Describe the it control procedures that should exist in : a. identify two major control weaknesses in the family support centers cash receipts procedures. for each weakness you

Raw materials of 36000 were requisitioned to the factory an : bjerg corporation incurred several costs. prepare entries for manufacturing costs. journalize the following

In an attempt to identify possible suspects the auditors : in an attempt to identify possible suspects the auditors researched the personal files of every employee in the

Part j88 is used in one of quinney corporations products : 1. part j88 is used in one of quinney corporations products. the company makes 3000 units of this part each year. the

Nicole organized a new corporation the corporation began : nicole organized a new corporation. the corporation began business on april 1 of year 1. she made the following

Wenig inc has some material that originally cost 73500 the : wenig inc. has some material that originally cost 73500. the material has a scrap value of 45600 as is but if reworked

User Account

All Pages