2
answers
0
watching
9
views
10 Nov 2019
Injection Molding Services uses a job-order costing system. The account balances at the Beg and End of the period for the product cost-related accounts are as follows: Beg Raw Materials Inventory Beg Work in Process Inventory Beg Finished Goods Inventory 180,000 320,000 100,000 End Raw Materials Inventory End Work in Process Inventory End Finished Goods Inventory Cost of Goods Sold Manufacturing Overhead (credit) $200,000 400,000 600,000 800,000 90,000 Required Prepare journal entries for a job order systems. Raw Materials purchased during the year were $500,000. Direct labor incurred amounts to $600,000. Hint: Make T-Accounts to help determine what journal entries need to be made and determine missing dollar amounts.
Injection Molding Services uses a job-order costing system. The account balances at the Beg and End of the period for the product cost-related accounts are as follows: Beg Raw Materials Inventory Beg Work in Process Inventory Beg Finished Goods Inventory 180,000 320,000 100,000 End Raw Materials Inventory End Work in Process Inventory End Finished Goods Inventory Cost of Goods Sold Manufacturing Overhead (credit) $200,000 400,000 600,000 800,000 90,000 Required Prepare journal entries for a job order systems. Raw Materials purchased during the year were $500,000. Direct labor incurred amounts to $600,000. Hint: Make T-Accounts to help determine what journal entries need to be made and determine missing dollar amounts.
5 Jul 2023
Unlock all answers
Get 1 free homework help answer.
Already have an account? Log in
Nelly StrackeLv2
27 Jul 2019
Get unlimited access
Already have an account? Log in