Question

Prepare journal entries to record the following transactions for June using a job order costing system....

Prepare journal entries to record the following transactions for June using a job order costing system.

(a) Purchased raw materials on credit, $84,000.

(b) Raw materials requisitioned: $10,000 direct and $6,200 indirect.

(c) Factory payroll accrued $35,000, including $12,500 indirect labor, remainder was direct labor.

(d) Paid other actual overhead costs totaling $8,500 with cash.

(e) Applied overhead totaling $27,600.

(f) Finished and transferred jobs totaling $67,500.

(g) Jobs costing $55,200 were sold on credit for $80,000.

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