Selected information from Skybox Studios shows the following: Raw materials purchased Direct materials Direct labor Factory...

 

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Selected information from Skybox Studios shows the following: Raw materials purchased Direct materials Direct labor Factory depreciation Total manufacturing overhead incurred Machine hours per month Unit cost for material Unit cost of conversion Number units transferred $ 5,000 $ 1,500 $11,000 $ 2,000 $15,000 28,000 $ $ 2 8 15,000 1. Prepare journal entries to record the following: a. Raw material purchased b. Direct labor incurred c. Depreciation expense (hint: this is part of manufacturing overhead) d. Raw materials used e. Overhead applied on the basis of $0.50 per machine hour f. The transfer from department 1 to department 2 Selected information from Skybox Studios shows the following: Raw materials purchased Direct materials Direct labor Factory depreciation Total manufacturing overhead incurred Machine hours per month Unit cost for material Unit cost of conversion Number units transferred $ 5,000 $ 1,500 $11,000 $ 2,000 $15,000 28,000 $ $ 2 8 15,000 1. Prepare journal entries to record the following: a. Raw material purchased b. Direct labor incurred c. Depreciation expense (hint: this is part of manufacturing overhead) d. Raw materials used e. Overhead applied on the basis of $0.50 per machine hour f. The transfer from department 1 to department 2

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a Raw material purchased Raw Materials Inventory 5000 Accounts Pay... View the full answer