April 30 may 31 inventories raw materials 39000 53000

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April 30May 31InventoriesRaw materials$ 39,000 $53,000 Goods in process11,900 20,500 Finished goods61,000 33,000 Activities and information for MayRaw materials purchases (paid with cash)187,000 Factory payroll (paid with cash)410,000 Factory overheadIndirect materials14,000 Indirect labor74,000 Other overhead costs96,000 Sales (received in cash)1,290,000 Predetermined overhead rate based on direct labor cost65%1.Raw materials purchases for cash.2.Direct materials usage.3.Indirect materials usage.Prepare journal entries for the above events for the month of May.
Score:43out of 43 points (100%)13.award:2 out of2.00 pointsExercise 19-9 Journal entries for labor LO P2The following information is available for Lock-Safe Company, which produces special-order securityproducts and uses a job order cost accounting system.April 30May 31InventoriesRaw materials$ 43,000 $46,000 Goods in process10,300 18,500 Finished goods65,000 36,400 Activities and information for MayRaw materials purchases (paid with cash)188,000 Factory payroll (paid with cash)395,000 Factory overheadIndirect materials11,000 Indirect labor70,000 Other overhead costs98,500 Sales (received in cash)1,280,000 Predetermined overhead rate based on direct labor cost65%1.Factory payroll costs in cash.2.Direct labor usage.3.Indirect labor usage.Prepare journal entries for the above events for the month of May.EventGeneral JournalDebitCredit1Factory payroll395,000Cash395,0002Goods in process inventory325,000Factory payroll325,0003Factory overhead70,000Factory payroll70,000WorksheetExercise 19-9 Journal entries forlabor LO P2Learning Objective: 19-P2Describe and record the flow oflabor costs in job order costaccounting.
Exercise 19-9 Journal entries for labor LO P2The following information is available for Lock-Safe Company, which produces special-order securityproducts and uses a job order cost accounting system.April 30May 31InventoriesRaw materials$ 43,000 $46,000 Goods in process10,300 18,500 Finished goods65,000 36,400 Activities and information for MayRaw materials purchases (paid with cash)188,000 Factory payroll (paid with cash)395,000 Factory overheadIndirect materials11,000 Indirect labor70,000 Other overhead costs98,500 Sales (received in cash)1,280,000 Predetermined overhead rate based on direct labor cost65%1.Factory payroll costs in cash.2.Direct labor usage.3.Indirect labor usage.Prepare journal entries for the above events for the month of May.EventGeneral JournalDebitCredit1Factory payroll395,000Cash395,0002Goods in process inventory325,000Factory payroll325,0003Factory overhead70,000Factory payroll70,000Explanation:
Score:43out of 43 points (100%)14.

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