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Author Question: Paulson Enterprises uses a job costing system. Record the following transactions in Paulson ... (Read 77 times)

bobbysung

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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).


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Marked as best answer by bobbysung on Jan 4, 2020

ryrychapman11

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bobbysung

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Reply 2 on: Jan 4, 2020
Great answer, keep it coming :)


momolu

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Reply 3 on: Yesterday
Gracias!

 

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