CH19hw - Ch 19-1A 306 March Direct Materials Direct Labor...

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Ch 19-1A 306 March: Direct Materials $29,000 Direct Labor 20,000 Applied Overhead 10,000 Beginning good in process 59,000 April: Direct Materials 135,000 Direct Labor 85,000 Applied Overhead 42,500 Total costs in April 262,500 Total costs $321,500 Part 2 Journal entries for April a. Raw Materials Inventory Accounts Payable To record materials purchases. Factory Payroll Cash To record factory payroll. Factory Overhead Raw Materials Inventory To record indirect materials. Factory Overhead Factory Payroll To record indirect labor. Factory Overhead Cash To record factory rent. Factory Overhead Cash To record factory utilities. Factory Overhead Accumulated Depreciation—Factory Equip
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To record other factory overhead. b. Goods in Process Inventory Raw Materials Inventory To assign direct materials to jobs. Goods in Process Inventory Factory Payroll To assign direct labor to jobs. Goods in Process Inventory Factory Overhead To apply overhead to jobs. c. Finished Goods Inventory (306 and 307) Goods in Process Inventory To record jobs completed ($321,500 + $507,000).
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