Question: During its first month of operation Portia Company purchased 90 000
During its first month of operation, Portia Company purchased $90,000 of materials on account and requisitioned $64,000 of materials for use in production. The company recorded $30,000 of direct labor cost and applied $20,000 of manufacturing overhead. Prepare Portia’s journal entries to record these events.
Answer to relevant QuestionsSuppose your sister Becky and her three best friends start a small business making beaded bracelets. They plan to purchase the materials, assemble the jewelry themselves, and sell the finished pieces to friends at school. ...Silver Company manufactures kites and has the following information available for the monthof April:Required:Using the weighted-average method, complete each of the following steps:1. Reconcile the number of physical units ...Refer to E3-12 for information regarding Arboles Company.Required:Complete all requirements for E3-12 using the FIFO method of process costing.1. Reconcile the number of physical units worked on during the period.2. ...Sereno Company makes piñatas for children's birthday parties. Information for Sereno's last six months of operation is listed below. Required: Prepare the journal entries to record each of the following transactions. (a) ...Crismon Company makes camping tents in a single production department. All direct materials are added at the beginning of the manufacturing process. Information for the month of July follows:Required:1. Using the ...
Post your question