Cost CH 7 HW - General Journal Entries Ref Transaction 1...

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General Journal Entries T-Accounts Ref Transaction DB CR Assets Materials WIP Mfg Finished Accum. 1 Manufacturing Overhead 1,200.00 Inventory Inventory O/H Goods Cash Dep. Cash 1,200.00 2 73,000.00 3 42,000.00 1 1,200.00 9 46,705.98 1 (1,200.00) 6 (7,200.00) 3 (42,000.00) 5 27,000.00 4 6,500.00 10 (46,705.98) 2 (73,000.00) 2 Materials Inventory 73,000.00 4 (6,500.00) 8 20,900.00 6 7,200.00 5 (27,000.00) Cash 73,000.00 9 (46,705.98) 7 6,000.00 7 (6,000.00) 8 (20,900.00) 10 120,000.00 3 Work-in-Process Inventory 42,000.00 Materials Inventory 42,000.00 24,500.00 43,194.02 - - 12,800.00 (7,200.00) 4 Manufacturing Overhead 6,500.00 Liabilities Revenue Expense Cost of Materials Inventory 6,500.00 Sales Goods Sold 10 (120,000.00) 10 46,705.98 5 Work-in-Process Inventory 27,000.00 Cash 27,000.00 6 Manufacturing Overhead 7,200.00 - - - (120,000.00) - 46,705.98 Accumulated Depreciation 7,200.00 245 259 Total Job Sheet Job 245 Job 259 Machine Hours 152 254 406 7 Manufacturing Overhead 6,000.00 Direct Materials 3 25,000.00 3 17,000.00 Labor Hours 98 90 188 Cash 6,000.00 9 (25,000.00) Machine Hours: 8 Work-in-Process Inventory 20,900.00 Supplies 1,200.00 Manufacturing Overhead 20,900.00 - 17,000.00 - Indirect Materials 6,500.00 Depreciation 7,200.00 9 Finished Goods 46,705.98 Direct Labor 5 13,000.00 5 14,000.00 5,578.33 9,321.67 14,900.00 /406= 36.70 Work-in-Process 46,705.98 9 (13,000.00) Labor Hours: Indirect Labor 3,127.66 2,872.34 6,000.00 /188= 31.91 10 Cash 120,000.00 - 14,000.00 - 8,705.98 12,194.02 20,900.00 Sales 120,000.00 Cost of Goods Sold 46,705.98 Mfg. O/H 8 8,705.98 8 12,194.02 Finished Goods 46,705.98 9 (8,705.98) 0 12,194.02 -
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