Prepare journal entries to record the following transactions a. Purchased $38,500 of raw materials on account....

   

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Prepare journal entries to record the following transactions a. Purchased $38,500 of raw materials on account. b. Transferred $22,400 of direct materials and $6,350 of indirect materials from raw materials into production. c. Recorded $5,800 of direct labor and $7,630 of indirect labor. d. Paid $3,200 for factory utilities. e. Received and paid an advertising bill for $8,000. 1. Recorded $1,860 of depreciation on the factory equipment. g. Manufacturing overhead of $18,500 was applied to production. h. Completed product with a total cost of $39,750 and transferred it to the finished goods warehouse. i. Sold product costing $17,240 for $26,500 on account. j. Closed the under- over applied manufacturing overhead. The amount was deemed immaterial. Prepare journal entries to record the following transactions a. Purchased $38,500 of raw materials on account. b. Transferred $22,400 of direct materials and $6,350 of indirect materials from raw materials into production. c. Recorded $5,800 of direct labor and $7,630 of indirect labor. d. Paid $3,200 for factory utilities. e. Received and paid an advertising bill for $8,000. 1. Recorded $1,860 of depreciation on the factory equipment. g. Manufacturing overhead of $18,500 was applied to production. h. Completed product with a total cost of $39,750 and transferred it to the finished goods warehouse. i. Sold product costing $17,240 for $26,500 on account. j. Closed the under- over applied manufacturing overhead. The amount was deemed immaterial.

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To record the transactions in journal entries here are the entries for each transaction a Purchased ... View the full answer