Author Question: Morgan Enterprises uses a job costing system. Record the following transactions in Morgan ... (Read 49 times)

frankwu · **on:** Jan 4, 2020

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

a)	Purchased raw materials on account, $60,000.

b)	Requisitioned $35,600 of direct materials and $5,600 of indirect materials for use in production.

c)	Factory payroll incurred, $72,000; 80% direct labour, 20% indirect labour.

d)	Recorded depreciation expense factory equipment $9,600, and other manufacturing overhead

of $33,680 (credit accounts payable).

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

f)	Cost of completed production for the current month, $113,600.

g)	Cost of finished goods sold, $92,000; selling price, $140,000 (all sales on account).

missalyssa26 · **Reply #1 on:** Jan 4, 2020

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 64% of students answer this correctly