Author Question: Myer's Enterprises uses a job costing system. Record the following transactions in Myer's ... (Read 84 times)

WWatsford · **on:** Jan 4, 2020

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

a)	Purchased raw materials on account, $45,000.

b)	Requisitioned $26,700 of direct materials and $4,200 of indirect materials for use in production.

c)	Factory payroll incurred, $54,000; 80% direct labour, 20% indirect labour.

d)	Recorded depreciation expense factory equipment $7,200, and other manufacturing overhead

of $25,260 (credit accounts payable).

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

f)	Cost of completed production for the current month, $85,200.

g)	Cost of finished goods sold, $69,000; selling price, $105,000 (all sales on account).

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

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