Sheridan Company purchases $46,000 of raw materials on account, and it incurs $55,200 of factory labor...

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Sheridan Company purchases $46,000 of raw materials on account, and it incurs $55,200 of factory labor costs. Supporting records show that (a) the Assembly Department used $22,080 of direct materials and $32,200 of direct labor, and (b) the Finishing Department used the remainder. Journalize the assignment of the costs to the processing departments on March 31. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 Work in Process - Assembly Work in Process - Finishing 31 Manufacturing Overhead (To record materials used) (To assign factory labor to production) eTextbook and Media List of Accounts Save for Later Debit 46,000 36800 Credit 88320 Assistance Used Attempts: 1 of 5 used Submit Answer Sheridan Company purchases $46,000 of raw materials on account, and it incurs $55,200 of factory labor costs. Supporting records show that (a) the Assembly Department used $22,080 of direct materials and $32,200 of direct labor, and (b) the Finishing Department used the remainder. Journalize the assignment of the costs to the processing departments on March 31. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 Work in Process - Assembly Work in Process - Finishing 31 Manufacturing Overhead (To record materials used) (To assign factory labor to production) eTextbook and Media List of Accounts Save for Later Debit 46,000 36800 Credit 88320 Assistance Used Attempts: 1 of 5 used Submit Answer

Answer rating: 100% (QA)

1 Raw materials purchased on account Debit Raw Materials Inventory 46000 Credit Accounts Payable 46000 Explanation This entry reflects the purchase of ... View the full answer