T accounts etc

T accounts etc - f) Recorded manufacturing overhead to...

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This material is produced by the SI Program at Arizona State University student success .asu.edu { collaborative peer-led structured group study SI Prepare journal entires and T-accounts for the following transactions. a) Received bill for Web site expenses $3,400. b) Incurred manufacturing wages, $15,000, $70% of which was direct labor and 30% of which was indirect labor. c) Purchased materials on account $14,750. d) Used in production: direct materials, $7,000; indirect materials $3,000 e) Recorded manufacturing overhead:L depreciation on plant, $13,000; prepaid plant insurance expired, $1,700; plant property tax, $4,200 (credit property tax payable).
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Unformatted text preview: f) Recorded manufacturing overhead to jobs, 200% of direct labor costs. g) Cost of jobs completed during the month: $33,000. h) Sold all jobs (on account) completed during the month for $52,000. Assume a perpetual inventory system. i) Adjust the cost of goods sold account for the period. Journal DATE ACCOUNTS AND EXPLANATIONS POST . REF. DEBIT CREDIT a. b. c. This material is produced by the SI Program at Arizona State University student success .asu.edu { collaborative peer-led structured group study SI d. e. f. g. h. What was the actual cost of goods sold?...
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This note was uploaded on 02/28/2011 for the course ACC 231 taught by Professor Levin during the Spring '08 term at ASU.

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T accounts etc - f) Recorded manufacturing overhead to...

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