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 125 125 (Recording the labour cost to the process) Factory Overheads 175 80 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 625 125 Factory Overheads 225 FINISHED GOODS WIP 625 COGS 400 COST OF GOODS SOLD
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Finished Goods 400 FACTORY DEPARTMENT OVERHEADS 80 WIP 225 Acc. Depreciation - Pl 55 Miscelaneous Overhea 40 Ending Balances Raw material 30 Work in Process 55 Finished Goods 225 310
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solution to Ch14 - Smothers Manufacturing Company General...

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