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  • Assignment Cost Acctg

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    Sheila Mae L. Bordomeo
    11 views2 pages
    1) The document contains journal entries recording various manufacturing costs for a company over a period of time, including direct materials, direct labor, manufacturing overhead, and the transfer of completed goods to finished goods inventory. 2) It shows debits to work in process inventory and various expense accounts, and credits to asset and liability accounts, to record the incurrence and payment of these costs. 3) A calculation at the bottom determines that total manufacturing overhead for the period was $270,000.

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    ASSIGNMENT COST ACCTG.xlsx

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    1) The document contains journal entries recording various manufacturing costs for a company over a period of time, including direct materials, direct labor, manufacturing overhead, and the transfer of completed goods to finished goods inventory. 2) It shows debits to work in process inventory and various expense accounts, and credits to asset and liability accounts, to record the incurrence and payment of these costs. 3) A calculation at the bottom determines that total manufacturing overhead for the period was $270,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    11 views2 pages

    Assignment Cost Acctg

    Uploaded by

    Sheila Mae L. Bordomeo
    1) The document contains journal entries recording various manufacturing costs for a company over a period of time, including direct materials, direct labor, manufacturing overhead, and the transfer of completed goods to finished goods inventory. 2) It shows debits to work in process inventory and various expense accounts, and credits to asset and liability accounts, to record the incurrence and payment of these costs. 3) A calculation at the bottom determines that total manufacturing overhead for the period was $270,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 2

    Ex.2-44 Sheila Mae L.

    Bordomeo 20-257388

    A. Journal Entries B.
    Date Title Debit Credit
    10-Jan Work in Process Inventory $800,000
    Raw Materials Inventory $800,000
    Direct materials issued to producion

    2 Work in Process Inventory 720,000


    Cash 720,000
    Paid direct labor of 40,000 hours

    3 Manufacturing Overhead 232,500


    Wages Payable 232,500
    Accrued Indirect labor cost 15,000 hours

    4 Manufacturing Overhead 102,100


    Accumulated Depreciation 102,100
    Depreciation on factory assets

    5 Manufacturing Overhead 32,800


    Wages Payable 32,800
    Accrued supervisor's salaries

    6 Work in Process Inventory 25,400


    Supplies Inventory 25,400
    Indirect materials issued to production

    7 Finished Goods Inventory 1,749,300


    Work in Process Inventory 1,749,300
    Completed goods cost $1,749,300
    Work in Process Inventory
    Debit Credit
    Beg.Balance $18,900 $1,749,300 COGM
    Direct Materials ###
    Direct Labor ###
    Manufacturing OH ###

    End Balance $59,600

    OH = $18,900 + $800,000 + $720,000 - $1,749,300 - $59,600


    Manufacturing OH = $270,000

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