Schrager company has two production departments cutting and

Reference no: EM13576547

Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,200, Work in Process-Cutting $2,900, Work in Process-Assembly $10,600, and Finished Goods $31,000. During July, the following transactions occurred.

1.		Purchased $62,500 of raw materials on account.
2.		Incurred $60,000 of factory labor. (Credit Factory Wages Payable.)
3.		Incurred $70,000 of manufacturing overhead; $40,000 was paid and the remainder is unpaid.
4.		Requisitioned materials for Cutting $15,700 and Assembly $8,900.
5.		Used factory labor for Cutting $33,000 and Assembly $27,000.
6.		Applied overhead at the rate of $18 per machine hour. Machine hours were Cutting 1,680 and Assembly 1,720.
7.		Transferred goods costing $67,600 from the Cutting Department to the Assembly Department.
8.		Transferred goods costing $134,900 from Assembly to Finished Goods.
9.		Sold goods costing $150,000 for $200,000 on account.

Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.	Account Titles and Explanation

Reference no: EM13576547

Questions Cloud

The normal selling price is 16 per unit the companys : the normal selling price is 16 per unit. the companys capacity is 15000 units per month. an order has been received

Research the library and provide at least 1 example of how : research the library and provide at least 1 example of how a real company has used each of the following multivariate

On january 16 2013 sorter company determined that its : at the end of 2012 sorter company has accounts receivable of 882520 and an allowance for doubtful accounts of 41880. on

How much would profits increase or decrease as a result of : westerville auto co. produces a small part that it uses in the production of its automobiles. the companys unit product

Schrager company has two production departments cutting and : schrager company has two production departments cutting and assembly. july 1 inventories are raw materials 4200 work in

Use the gauss-seidel method without relaxation to solve the : use the gauss-seidel method without relaxation to solve the following system to a tolerance of error 5. if necessary

The good sounds corp is attempting to get a better estimate : the good sounds corp. is attempting to get a better estimate of the cost of their products. as a first step they are

Astaire company uses the gross profit method to estimate : astaire company uses the gross profit method to estimate inventory for monthly reporting purposes. presented below is

If the probability of the nl winning an allstar game is 07 : if the probability of the nl winning an allstar game is 0.7 while the probability of the al winning is 0.3 what is the

User Account

All Pages

Schrager company has two production departments cutting and

Reference no: EM13576547

Reference no: EM13576547

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT