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Business, 19.04.2021 15:30 idk314159265359
Preparing job order costing journal entries
Journalize the following transactions for Marge's Sofas.
a. Incurred and paid Web site expenses, $2,000.
b. Incurred manufacturing wages of $15,000, 75% of which was direct labor and 25% of which was indirect labor.
c. Purchased raw materials on account, $24,000.
d. Used in production: direct materials, $7,500; indirect materials, $5,000.
e. Recorded manufacturing overhead: depreciation on plant, $18,000; plant insurance (previously paid), $1,500; plant property tax, $3,900 (credit Property Tax Payable).
f. Allocated manufacturing overhead to jobs, 200% of direct labor costs.
g. Completed production on jobs with costs of $40,000.
h. Sold inventory on account, $22,000; cost of goods sold, $18,000.
i. Adjusted for overallocated or underallocated overhead.
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Preparing job order costing journal entries
Journalize the following transactions for Marge's Sofas...
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