Prepare journal entries to record the following transactions and events for April using a job order costing system.(a) Purchased raw materials on credit, $69,000.(b) Raw materials requisitioned: $26,000 direct and $5,400 indirect.(c) Factory payroll totaled $46,000, including $9,500 indirect labor.(d) Paid other actual overhead costs totaling $14,500 cash.(e) Applied overhead totaling $28,200.(f) Finished and transferred jobs totaling $77,500.(g) Jobs costing $58,800 were sold on credit for $103,000.
What will be an ideal response?
| (a) | Raw Materials Inventory…………………… | 69,000 | ? |
| ? | Accounts Payable……………………… | ? | 69,000 |
| ? | ? | ? | ? |
| (b) | Work in Process Inventory………………… | 26,000 | ? |
| ? | Raw Materials Inventory………………… | ? | 26,000 |
| ? | ? | ? | ? |
| ? | Factory Overhead…………………………… | 5,400 | ? |
| ? | Raw Materials Inventory………………… | ? | 5,400 |
| ? | ? | ? | ? |
| (c) | Work in Process Inventory………………… | 36,500 | ? |
| ? | Factory Wages Payable………………… | ? | 36,500 |
| ? | ? | ? | ? |
| ? | Factory Overhead…………………………… | 9,500 | ? |
| ? | Factory Wages Payable………………… | ? | 9,500 |
| ? | ? | ? | ? |
| (d) | Factory Overhead………………………… | 14,500 | ? |
| ? | Cash…………………………………… | ? | 14,500 |
| ? | ? | ? | ? |
| (e) | Work in Process Inventory………………… | 28,200 | ? |
| ? | Factory Overhead……………………… | ? | 28,200 |
| ? | ? | ? | ? |
| (f) | Finished Goods Inventory………………… | 77,500 | ? |
| ? | Work in Process Inventory……………… | ? | 77,500 |
| ? | ? | ? | ? |
| (g) | Accounts Receivable……………………… | 103,000 | ? |
| ? | Sales…………………………………… | ? | 103,000 |
| ? | ? | ? | ? |
| ? | Cost of Goods Sold………………………… | 58,800 | ? |
| ? | Finished Goods Inventory……………… | ? | 58,800 |
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