Author Question: Jameson Enterprises uses a job costing system. Record the following transactions in Jameson ... (Read 76 times)

kaid0807 · **on:** Jan 4, 2020

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

a)	Purchased raw materials on account, $112,500

b)	Requisitioned $66,750 of direct materials and $10,500 of indirect materials for use in

production.

c)	Factory payroll incurred, $135,000; 80% direct labour, 20% indirect labour.

d)	Recorded depreciation expense factory equipment $18,000, and other manufacturing overhead

of $63,150 (credit accounts payable).

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

f)	Cost of completed production for the current month, $213,000.

g) Cost of finished goods sold, $172,500; selling price, $262,500 (all sales on account).

kaykay69 · **Reply #1 on:** Jan 4, 2020

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