For Job 101, company has the following transactions 1. purchased raw material of 100,000 on credit 2.
Fantastic news! We've Found the answer you've been seeking!
Question:
For Job 101, company has the following transactions
1. purchased raw material of 100,000 on credit
2. Direct material assigned to WIP is 20,000 and indirect material assigned is 5,000
3. The time ticket shows labour cost as 20,000
4. Direct labour assigned to WIP is 10,000 and indirect material is 4,000
5. The depreciation of 2,000 and electricity expense of 3,000 are still due
6. company has assigned MoH of 14,000 to WIP
7. All products are completed
8. company sold all products for 50,000 and did not receive cash
Write journal entries and prepare T accounts
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date: