Question: Prepare journal entries to record the following transactions using a job order cost accounting system. 1. Purchased raw materials on credit, $53,000. 2. Raw materials

Prepare journal entries to record the following transactions using a job order cost accounting system. 1. Purchased raw materials on credit, $53,000. 2. Raw materials requisitioned: Direct: $12,300; Indirect $1,365. 3. Paid factory payroll totaling $68,000; this includes $60,000 Direct labor and $8,000 Indirect labor. 4. Paid other actual factory overhead costs of $8,900. 5. Applied factory overhead totaling $15,000. 6. Finished and transferred jobs totaling $7,200. 7. Jobs costing $16,000 were sold on credit for $32,000. (Remember two sets of entries)

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Prepare journal entries to record the following transactions using a job order cost accounting system. Raw materials requisitioned: Direct: $12,300; Indirect $1,365. View keyboard shortcuts

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