Author Question: Paulson Enterprises uses a job costing system. Record the following transactions in Paulson ... (Read 80 times)

bobbysung · **on:** Jan 4, 2020

Paulson Enterprises uses a job costing system. Record the following transactions in Paulson Enterprises's general journal for the current month:

a)	Purchased raw materials on account, $75,000.

b)	Requisitioned $44,500 of direct materials and $7,000 of indirect materials for use in production.

c)	Factory payroll incurred, $90,000; 80% direct labour, 20% indirect labour.

d)	Recorded depreciation expense factory equipment $12,000, and other manufacturing overhead

of $42,100 (credit accounts payable).

e)	Allocated manufacturing overhead costs based on 120% of direct labour cost.

f)	Cost of completed production for the current month, $142,000.

g)	Cost of finished goods sold, $115,000; selling price, $175,000 (all sales on account).

ryrychapman11 · **Reply #1 on:** Jan 4, 2020

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