During the current month, Tanaka Tech incurs the following manufacturing costs. a. Purchased raw materials of 1,800,000

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During the current month, Tanaka Tech incurs the following manufacturing costs.

a. Purchased raw materials of ¥1,800,000 on account.

b. Incurred factory labor of ¥4,000,000. Of that amount, ¥3,100,000 relates to wages payable and ¥900,000 relates to payroll taxes payable.

c. Factory utilities of ¥310,000 are payable, prepaid factory property taxes of ¥270,000 have expired, and depreciation on the factory building is ¥950,000.

Prepare journal entries for each type of manufacturing cost. (Use a summary entry to record manufacturing overhead.)

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Accounting Principles

ISBN: 978-1119419617

IFRS global edition

Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt

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Question Posted: Jul 18, 2019 08:32 AM

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During the current month, Tanaka Tech incurs the following manufacturing costs. a. Purchased raw materials of 1,800,000

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a Raw Materials Inventory 1800000 Accounts Payable 1800000 Purchases of raw materials on account b ...View the full answer

Accounting Principles

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