TB Problem $3-134($Algo$)$ Prepare the journal entries...

a$.$ Purchased $$94,000$ of steel $(9,400$ tons$)$ with cash.

b$.$ Issued $$82,000$ of steel $(8,200$ tons$)$ into production.

c$.$ Paid $$16,400$ cash in production labor costs.

d$.$ Applied overhead at the predetermined rate of $$7$ per ton of steel.

e$.$ Incurred $$65,800$ of actual overhead costs, paid in cash.

f$.$ Completed $28,500$ helmets. $($Approximately $$33,250$ of inventory remains in process.$)$

g$.$ Sold for cash $26,000$ helmets at $$26\mathrm{.}00$ per unit.

$($Hint: Record two entries.$)$

h$.$ Disposed of any over$-$ or underapplied overhead cost.

Required:

Prepare the journal entries to record each of the above transactions for Viking Company, a company that produces Viking helmets for sale to tourists.

Note: If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.

View transaction list

$\backslash$table$[[,$No$,$Transaction,General Journal,Debit,Credit$],[0,1,$a$,$Raw Materials Inventory,$94,000,],[,,,$Cash,,$94,000],[0,2,$b$,$Work in Process Inventory,$82,000,]]$