1) Record the purchase of materials (on credit)

2) Record direct materials used in production

3) record the usage of indirect materials.

4) Record the cost of direct labor incurred but not yet paid. (Use "factory wages payable" account)

5) Record the cost of indirect labor incurred but not yet paid. (Use "factory wages payable" account)

6) Record the payment of the total factory payroll.

7) Record the cost of other factory overhead costs (credit other accounts)

8) Record the application of overhead at a rate of 150% of direct materials costs (cutting) and 120% of direct labor cost (stitching)

9) Record the transferred costs of partially completed goods.

10) Record the transfer of production to finished goods, as calculated on the cost of goods manufactured tab.

11) Record the cost of goods sold, calculated on the cost of goods sold tab

12) Record the sales of goods on account

Transcribed Image Text:

Amidon Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Direct materials. Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) Factory Overhead (Actual costs) Indirect materials used Indirect labor used. Other overhead costs The following additional information describes the company's production activities for May. Factory Overhead Rates Cutting Stitching Sales Beginning Inventory $ 41,000 $ 28,800 56,400 54,000 113,500 133,300 90, 100 $ 60,000 23,500 0 $ 19, 100 76,400 151,900 Ending Inventory $48,700 (150% of direct materials used) (120% of direct labor used) $536,000 55,000 95,500 22,250 Amidon Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Direct materials. Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) Factory Overhead (Actual costs) Indirect materials used Indirect labor used. Other overhead costs The following additional information describes the company's production activities for May. Factory Overhead Rates Cutting Stitching Sales Beginning Inventory $ 41,000 $ 28,800 56,400 54,000 113,500 133,300 90, 100 $ 60,000 23,500 0 $ 19, 100 76,400 151,900 Ending Inventory $48,700 (150% of direct materials used) (120% of direct labor used) $536,000 55,000 95,500 22,250

Answer rating: 100% (QA)

Record the purchase of materials on credit Raw materials purchased on credit 60000 Record direct materials used in production Direct materials usedCut... View the full answer