pyson company usere a job order costing system. the following is a partial list of the company's accounts. (note: additional accounts may be needed.)

Project Description:

payson company uses a job order costing system. the following is a partial list of the company's accounts. (note: additional accounts may be needed.)


cash
manufacturing overhead
sales
cost of goods sold
sales commissions expense
administrative expenses
accounts receivable
commissions payable

1. prepare journal entries for each of the following transactions (omit explanations).

a. raw materials previously purchased on account were paid for in cash, $700.
b. raw materials were purchased for $1,500 on account.
c. direct labor costs of $3,000 were recorded
d. direct materials costing $1,100 were issued directly to production.
e. depreciation of $1,500 on manufacturing equipment was recorded. (assume this is a product cost.)
f. property taxes payable of $2,600 were recorded, half to manufacturing and half to administration.
g. manufacturing overhead costs of $400 were applied to a job in process
h.materials previously purchased on account were paid for in cash, $1,500.
i. sales commissions of $240 were recorded.
j. goods costing $2,700 were transferred from work-in-process inventory to finished goods inventory.
k. finished goods costing $2,300 were sold for $3,200 on credit, and the cost of goods sold was recorded.

2. prepare t-accounts and post the journal entries to the t-accounts.
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