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Author Question: Myer's Enterprises uses a job costing system. Record the following transactions in Myer's ... (Read 91 times)

WWatsford

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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).


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Marked as best answer by WWatsford on Jan 4, 2020

macagnavarro

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WWatsford

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Reply 2 on: Jan 4, 2020
Gracias!


kswal303

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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