Land 180 Equipment 181 Accumulated Depreciation LIABILITIES 210 Accounts

Land 180 equipment 181 accumulated depreciation

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Land 180 Equipment 181 Accumulated Depreciation LIABILITIES 210 Accounts Payable 220 Wages Payable 230 Various Payables EQUITY 310 Common Stock 320 Retained Earnings REVENUE 410 Sales Revenue EXPENSES 510 Cost of Goods Sold 520 Insurance Expense 530 Wages Expense 540 Supplies Expense 550 Utilities Expense 560 Depreciation Expense 590 Miscellaneous Expense Refer to the list below for the exact wording of text items within your job-order cost sheets. Amount Descriptions Applied overhead Direct labor Direct materials
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Total Yurman Inc. uses a job-order costing system. During the month of May, the following transactions occurred: Ma y 1 Purchased materials on account for $29,680. 3 Requisitioned materials totaling $24,480 for use in production. Of the total, $9,220 was for Job 58, $8,940 for Job 59, and the remainder for Job 60. 31 Incurred direct labor for the month of $28,800, with an average wage of $16 per hour. Job 58 used 790 hours; Job 59, 590 hours; and Job 60, 420 hours. 31 Incurred and paid actual overhead of $17,860 (credit Various Payables). 31 Charged overhead to production at the rate of $4.70 per direct labor hour.
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