' Major League Bat Company manufactures baseball bats. In addition to its work in process inventories,...

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' Major League Bat Company manufactures baseball bats. In addition to its work in process inventories, the company maintains inventories of raw materials and finished goods. It uses raw materials as direct materials in production and as indirect materials. Its factory payroll costs include direct labor for production and indirect labor. All materials are added at the beginning of the process, a conversion costs are applied uniformly throughout the production process. Required: You are to maintain records and produce measures of inventories to reflect the July events of this company. The June 30 balances: Raw Materials Inventory, $39,000; Work in Process Inventory, $11,585 ($3,660 of direct materials and $7,925 of conversion); Finishe Goods Inventory, $200,000; Sales, $0; Cost of Goods Sold, $0; Factory Payroll Payable, $0; and Factory Overhead, $0. 1. Prepare journal entries to record the following July transactions and events. a. Purchased raw materials for $215,000 cash. b. Used raw materials as follows: direct materials, $70,090; and indirect materials, $20,000. c. Recorded factory wages payable costs as follows: direct labor, $227,250; and indirect labor, $35,000. d. Incurred other actual factory overhead costs of $58,625 paid in cash. e. Applied factory overhead to production at 50% of direct labor costs. 2. Information about the July work in process (WIP) inventory follows. Use this information with that from part 1 to prepare a production cost report, assuming the weighted average method is used. Units Beginning WIP inventory Started 12,500 units 17,000 units Units transferred out 18,500 units 11,000 units Ending WIP inventory Beginning WIP Inventory Required 1 Required 2 Required 2 Required 4 Prepare journal entries to record the following July transactions and events. . Purchased raw materiale for $215,000 cash and indirect coats as follows direct labor $227.2001 and indirect la d. Incurred other actual factory overhead costs of $58.625 paid in cash and indir e. Applied factory overhead to production at 50% of direct labor costs. View transaction list Journal entry worksheet Record the purchase of raw materials for cash Note: Enter debit before credite Debit Cred Required Required 2 Required Required 4 Required 5 Prepare jumal entries to record the following July transactions and events Purchaserials as follows direct materials, 70,090, and indirect materials, 20,000. Recorded factory wages payable coate as follows direct laban $227.250: and indirect labon $35.000 d. Incurred other actual factory overhead costs of $5,625 paid in cash. .Applied factory overhead to production at 30% of direct labor costs. View fraction bat Journal entry worksheet 6 6 7 Record the use of direct materials. Nate Enter debts before credits General Journal ' Major League Bat Company manufactures baseball bats. In addition to its work in process inventories, the company maintains inventories of raw materials and finished goods. It uses raw materials as direct materials in production and as indirect materials. Its factory payroll costs include direct labor for production and indirect labor. All materials are added at the beginning of the process, a conversion costs are applied uniformly throughout the production process. Required: You are to maintain records and produce measures of inventories to reflect the July events of this company. The June 30 balances: Raw Materials Inventory, $39,000; Work in Process Inventory, $11,585 ($3,660 of direct materials and $7,925 of conversion); Finishe Goods Inventory, $200,000; Sales, $0; Cost of Goods Sold, $0; Factory Payroll Payable, $0; and Factory Overhead, $0. 1. Prepare journal entries to record the following July transactions and events. a. Purchased raw materials for $215,000 cash. b. Used raw materials as follows: direct materials, $70,090; and indirect materials, $20,000. c. Recorded factory wages payable costs as follows: direct labor, $227,250; and indirect labor, $35,000. d. Incurred other actual factory overhead costs of $58,625 paid in cash. e. Applied factory overhead to production at 50% of direct labor costs. 2. Information about the July work in process (WIP) inventory follows. Use this information with that from part 1 to prepare a production cost report, assuming the weighted average method is used. Units Beginning WIP inventory Started 12,500 units 17,000 units Units transferred out 18,500 units 11,000 units Ending WIP inventory Beginning WIP Inventory Required 1 Required 2 Required 2 Required 4 Prepare journal entries to record the following July transactions and events. . Purchased raw materiale for $215,000 cash and indirect coats as follows direct labor $227.2001 and indirect la d. Incurred other actual factory overhead costs of $58.625 paid in cash and indir e. Applied factory overhead to production at 50% of direct labor costs. View transaction list Journal entry worksheet Record the purchase of raw materials for cash Note: Enter debit before credite Debit Cred Required Required 2 Required Required 4 Required 5 Prepare jumal entries to record the following July transactions and events Purchaserials as follows direct materials, 70,090, and indirect materials, 20,000. Recorded factory wages payable coate as follows direct laban $227.250: and indirect labon $35.000 d. Incurred other actual factory overhead costs of $5,625 paid in cash. .Applied factory overhead to production at 30% of direct labor costs. View fraction bat Journal entry worksheet 6 6 7 Record the use of direct materials. Nate Enter debts before credits General Journal