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  • A Accumulating

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    Venyflo Sarang Burung Walet Surabaya
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    The document summarizes manufacturing transactions for a company including: 1) Raw materials being purchased on account and labor costs being incurred for factory work, 2) Materials and labor being transferred to Work in Process inventory accounts using a standard costing method, 3) A job being completed by transferring costs from WIP to Finished Goods, and 4) The finished goods being sold for cash, with the sale revenue and cost of goods sold being recorded.

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    The document summarizes manufacturing transactions for a company including: 1) Raw materials being purchased on account and labor costs being incurred for factory work, 2) Materials and labor being transferred to Work in Process inventory accounts using a standard costing method, 3) A job being completed by transferring costs from WIP to Finished Goods, and 4) The finished goods being sold for cash, with the sale revenue and cost of goods sold being recorded.

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    11 views2 pages

    A Accumulating

    Uploaded by

    Venyflo Sarang Burung Walet Surabaya
    The document summarizes manufacturing transactions for a company including: 1) Raw materials being purchased on account and labor costs being incurred for factory work, 2) Materials and labor being transferred to Work in Process inventory accounts using a standard costing method, 3) A job being completed by transferring costs from WIP to Finished Goods, and 4) The finished goods being sold for cash, with the sale revenue and cost of goods sold being recorded.

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    © All Rights Reserved
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    of 2

    A ACCUMULATING

    DR CR
    1 RAW MATERIAL INV 42000 C
    A/P 42000

    2 FACTORY LABOR 32000


    FACT. W/P 27000
    EMP PAYROLL TAXES PAYABLE 5000

    3 MANUF. OH (OH ACTUAL = INCURRED) 13800


    UTULITIES PAYABLE 4800
    PREP INS (EXPIRED) 2000
    A/P 2600
    ACC.DEPR 3000
    PROP TAXES PAY 1400

    B ASSIGNING
    DR CR
    WIP-DIRECT MATERIAL 24000
    MO - INDIRECT MATERIAL 6000
    RAW MATERIAL INV 30000

    WIP - DL 28000
    MO - INDIRECT LABOR 4000
    FACTORY LABOR 32000

    WIP
    MO (OH APPLIED) 22400
    22400
    JOB COMPLETED
    DR CR
    F/G 39000
    WIP 39000

    SALE OF F/G DR CR

    CASH (A/R) 50000


    SALES REVENUE 50000

    COGS 39000
    F/G 39000

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