On August 1st, Custom Car Co's work in process inventory was $24900; its raw materials inventory...

 

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On August 1st, Custom Car Co's work in process inventory was $24900; its raw materials inventory was $6000; manufacturing overhead had a $1800 debit balance. Work in Process Subsidiary Data 8/1: Direct Materials Mercedes $4,800 Corvette $3,600 Murcielago $3,000 $11,400 Direct Labor Man Overhead $1,200 $1,500 $3,000 $3,750 $1,800 $2,250 $6,000 $7,500 A. Journalize the following transactions: 8/5 Raw materials of $10800 are purchased on account from Wholesaler Co. 8/8 $2400 is paid to repair factory equipment (ck#522). 8/11 Factory rent of $3600 is paid (ck #523). 8/15 Depreciation on factory equipment totals $4800 for the month. 8/30 Property taxes for the factory total $1200. They're due next month. Date 5-Aug Account (Purchase RM-Wholesaler) 8-Aug (Repairs Ck #522) 11-Aug (Rent -Ck #523) 15-Aug 30-Aug (Depreciation factory equip) (Property taxes) B. Record journal entries given the following information for August. Material Job Requisitions Time Tickets Mercedes $2,400 $1,800 Corvette $1,800 $3,000 Murcielago $6,000 $4,800 Land Rover $4,200 $2,400 $14,400 $12,000 General use $600 $1,200 $15,000 $13,200 *Idle time, cleaning & maintenance, indirect materials, etc.) Date 31-Aug Account Dr. Cr. XX XX XX XX X X XX XX XX XX X X Dr. Cr. XX XX On August 1st, Custom Car Co's work in process inventory was $24900; its raw materials inventory was $6000; manufacturing overhead had a $1800 debit balance. Work in Process Subsidiary Data 8/1: Direct Materials Mercedes $4,800 Corvette $3,600 Murcielago $3,000 $11,400 Direct Labor Man Overhead $1,200 $1,500 $3,000 $3,750 $1,800 $2,250 $6,000 $7,500 A. Journalize the following transactions: 8/5 Raw materials of $10800 are purchased on account from Wholesaler Co. 8/8 $2400 is paid to repair factory equipment (ck#522). 8/11 Factory rent of $3600 is paid (ck #523). 8/15 Depreciation on factory equipment totals $4800 for the month. 8/30 Property taxes for the factory total $1200. They're due next month. Date 5-Aug Account (Purchase RM-Wholesaler) 8-Aug (Repairs Ck #522) 11-Aug (Rent -Ck #523) 15-Aug 30-Aug (Depreciation factory equip) (Property taxes) B. Record journal entries given the following information for August. Material Job Requisitions Time Tickets Mercedes $2,400 $1,800 Corvette $1,800 $3,000 Murcielago $6,000 $4,800 Land Rover $4,200 $2,400 $14,400 $12,000 General use $600 $1,200 $15,000 $13,200 *Idle time, cleaning & maintenance, indirect materials, etc.) Date 31-Aug Account Dr. Cr. XX XX XX XX X X XX XX XX XX X X Dr. Cr. XX XX