MaBak Inc. manufacturers its products in a continuous process involving two departments, Machining and Assembly. Prepare...
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MaBak Inc. manufacturers its products in a continuous process involving two departments, Machining and Assembly. Prepare journal entries to record the following transactions related to production during June: (a) Materials purchased on account, $80,000 (b) Depreciation expenses: Machining, $2,000; Assembly, $5,000 (c) Materials requisitioned by: Machining, $4,000 direct and $1,000 indirect materials; Assembly, $3,000 indirect materials (d) (e) (1) (g) 123456789 Factory overhead applied: Machining, $2,500; Assembly, $8,400 Direct labor used by Machining, $7,500; Assembly, $1,500 Machining Department transferred $5,000 to Assembly Department; Assembly Department transferred $3,200 to finished goods Sold goods on account, $6,000; cost of goods sold, $2,000 PHDBHKHABA8 tem Date E Post ref Debit Credit 1 -N34567000 2 4 8 9 10 11 12 13 14 2004 15 16 17 1122 18 8600 19 20 21 MaBak Inc. manufacturers its products in a continuous process involving two departments, Machining and Assembly. Prepare journal entries to record the following transactions related to production during June: (a) Materials purchased on account, $80,000 (b) Depreciation expenses: Machining, $2,000; Assembly, $5,000 (c) Materials requisitioned by: Machining, $4,000 direct and $1,000 indirect materials; Assembly, $3,000 indirect materials (d) (e) (1) (g) 123456789 Factory overhead applied: Machining, $2,500; Assembly, $8,400 Direct labor used by Machining, $7,500; Assembly, $1,500 Machining Department transferred $5,000 to Assembly Department; Assembly Department transferred $3,200 to finished goods Sold goods on account, $6,000; cost of goods sold, $2,000 PHDBHKHABA8 tem Date E Post ref Debit Credit 1 -N34567000 2 4 8 9 10 11 12 13 14 2004 15 16 17 1122 18 8600 19 20 21
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Heres the journal entries for the transactions you provided 1 Materials purchased on account 80000 Date 1 Description Materials Purchased on Account D... View the full answer
Related Book For
Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
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