Ch02 - Student Name: Class: Problem 02-18 PRODUCTOS ELINA...

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Student Name: Class: Problem 02-18 PRODUCTOS ELINA S.A. General Journal (Currency in Pesos) Date Account Title Debit Credit a. Raw Materials Cash b. Work in Process Manufacturing Overhead Raw Materials c. Work in Process Manufacturing Overhead Sales Commissions Expense Salaries Expense Salaries and Wages Payable d. Manufacturing Overhead Rent Expense Cash e. Manufacturing Overhead Accounts Payable f. Advertising Expense Accounts Payable g. Manufacturing Overhead Depreciation Expense Accumulated Depreciation h. Work in Process Manufacturing Overhead I. Finished Goods Work in Process j. Accounts Receivable Sales Cost of Goods Sold Finished Goods 3. Cost of Goods Sold Manufacturing Overhead PRODUCTOS ELINA S.A. Income Statement (Currency in Pesos) Sales Cost of goods sold Gross margin Selling and administrative expenses: Sales commissions Administrative salaries Rent expense Advertising expense Depreciation expense Net operating income
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Given Data P02-18: PRODUCTOS ELINA S.A. (Currency in Pesos) Beginning estimates: Direct labor cost $370,000 Manufacturing overhead cost 481,000 Inventory balances: Raw materials $35,000 Work in process 25,000 Finished goods 65,000 Transactions: a. Raw materials purchased $400,000 b. Raw materials requisitioned 429,000 Charged directly to jobs 350,000 c. Costs for employee services: Direct labor 375,000 Indirect labor 110,000 Sales commissions 95,000 Administrative salaries 80,000 d. Rent for year
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This note was uploaded on 10/10/2010 for the course ACCT 225 S taught by Professor Webster during the Spring '10 term at Franklin.

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Ch02 - Student Name: Class: Problem 02-18 PRODUCTOS ELINA...

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