solution to Ch14 - Smothers Manufacturing Company General...

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Smothers Manufacturing Company General Journal Debit Credit Raw Material 360 Cash 360 (Direct Material purchased for cash) Work in Process 330 Raw Material 330 (Direct material issued to the process) Work in Process 125 Salaries & Wages Payable 125 (Recording the labour cost to the process) Factory Overheads 175 Salaries & Wages Payable 80 Acc. Depreciation - Plant & Machinery 55 Miscelaneous Overheads 40 (Recording of factory overheads) Work in Process 225 Factory Overheads 225 (To record the factory overheads applied) Finished Goods 625 Work in Process 625 (To record the cost of goods completed) Cost of Goods Sold 400 Finished Goods 400 (To record the cost of goods sold) RAW MATERIAL Cash 360 WIP 330 WORK IN PROCESS Raw material 330 Finished Goods 625 Salaries & wages 125 Factory Overheads 225 FINISHED GOODS WIP 625 COGS 400 COST OF GOODS SOLD
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Finished Goods 400 FACTORY DEPARTMENT OVERHEADS Salaries & Wages Paya 80 WIP 225 Acc. Depreciation - Pla 55 Miscelaneous Overhea 40 Ending Balances Raw material 30 Work in Process 55 Finished Goods 225 310
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Problem 14-A2 CellTel
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