Question: Need help in this one, thanks Forest Components makes aircraft parts. The following transactions occurred in July 1. Purchased $16.800 of materials on account 2.










Forest Components makes aircraft parts. The following transactions occurred in July 1. Purchased $16.800 of materials on account 2. Issued $16.710 in direct materials to the production department 3. Issued $1310 of supplies from the material inventory 4 Paid for the materials purchased in transaction (in cash 5. Returned $2.180 of the material issued to production into the materials inventory 6. Direct labor employees earned $31600, which was paidan Cash 7 Purchased miscellaneous des for the manufacturing plant for $17390 an account 8. Recognized depreciation on manufacturing plant of $36.000 9 Applied manufacturing overhead for the month ook Forest uses normal costing topplies overhead on the basis of drealabor costs using an annual predetermined Fate Ar the beginning of the year, management estimated that area labor costs for the year would be $435500 Estimated owerhed for the year wat $426,594 The following balanges appeared in the covertory accounts of Forest Components for July Beginning the Materials Inventory $1,440 Work-in-process Inventory 10,50 Finished Goods Inventory 12.610 6.970 Cost of Goods Sold 74,220 7 > Required: a. Prepare journal entries to record these transactions b. Prepare Taccounts to show the flow of costs during the period from Materials inventory through Cou Goods Sold 14.00 Pequired Preprenesis recordar Preparece how the low of costs during the period from Mineral Vivereory through Case Goods Sell Comolete this question by entering your wer in the tales below. to recordar Journal errey worksheet nued $16.710 in die man to the rectan apartment 5 DO a. Prepare altres record these transactions b. Prepe cu how the flow of couronng the period from Malerweigh Cow of Goods Sold Complete this ten bring your answers in the talis below Portes turtrete transactions with action of our Journal entry worksheet D H 1 of summer b. Prepare Tacourts to show the now of costs during the end from Materialientary tech Cost of Good Bold Complete this question by entering your answers in the tabs below . Prepare journalista record strane non sono arrivant, Pored the first account Journal entry worksheet Dirbamed.con, which waspadinah Revit Roured Drapare jumal entries to record these transition for the in the account View traction Journal entry worksheet
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
