Question

Cullumber Company is working on two job orders. The job cost sheets show the following. Job...

Cullumber Company is working on two job orders. The job cost sheets show the following.

Job 201

Job 202
Direct materials $7,350 $8,950
Direct labor 4,300 8,250
Manufacturing overhead 5,200 9,950


Prepare the three summary entries to record the assignment of costs to Work in Process from the data on the job cost sheets. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.

Account Titles and Explanation

Debit

Credit

(a)

(To assign materials to jobs)

(b)

(To assign labor to jobs)

(c)

(To assign overhead to jobs)
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Answer #1

No.

Account Titles and Explanation

Debit

Credit

(a)

Work in progress inventory

16300

  Raw materials Inventory

16300

(To assign materials to jobs.)

(b)

Work in progress inventory (4300+8250)

12550

Factory labor

12550

(To assign labor to jobs.)

(c)

Work in progress inventory (5200+9950)

15150

Manufacturing overhead

15150

(To assign overhead to jobs.)
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