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Prepare summary journal entries to record the following transactions for a company in its first month...

Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw mPrepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw mPrepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw mJournal entry worksheet < 1 2 3 3 5 5 6 7 8 9 > Record the usage of direct and indirect labor, paid in cash. Note: Enter debiJournal entry worksheet < 1 2 3 4 5 6 7 8 9 > Record other actual overhead costs, paid in cash. Note: Enter debits before creJournal entry worksheet 1 2 3 3 4 5 5 6 6 7 8 9 Record the entry to apply overhead at a rate of 120% of direct labor cost. NoJournal entry worksheet < 1 2 3 4 5 5 6 7 8 9 > Record costs of jobs completed. Note: Enter debits before credits. General JoJournal entry worksheet < 1 2 3 4 5 6 7 8 9 Record the cost of the jobs sold. Note: Enter debits before credits. General JourJournal entry worksheet < 1 2 3 3 4 5 6 7 8 9 Record sales on account. Note: Enter debits before credits. Transaction General

Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $116,000. b. Direct materials used in production, $46,000. Indirect materials used in production, $20,600. c. Paid cash for factory payroll, $55,000. Of this total, $41,000 is for direct labor and $14,000 is for indirect labor. d. Paid cash for other actual overhead costs, $9,250. e. Applied overhead at the rate of 120% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $85,600. 91. Jobs that had a cost of $85,600 were sold. g2. Sold jobs on account for $123,000. View transaction list Journal entry worksheet 1 N 3 3 4 5 6 7 8 9 > Record raw materials purchased on account. Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general journal
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $116,000. b. Direct materials used in production, $46,000. Indirect materials used in production, $20,600. c. Paid cash for factory payroll, $55,000. Of this total, $41,000 is for direct labor and $14,000 is for indirect labor. d. Paid cash for other actual overhead costs, $9,250. e. Applied overhead at the rate of 120% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $85,600. 91. Jobs that had a cost of $85,600 were sold. g2. Sold jobs on account for $123,000. View transaction list Journal entry worksheet 1 2. 2 3 3 4 5 6 7 8 9 > Record the entry to assign costs of direct materials used. Note: Enter debits before credits. General Journal Debit Credit Transaction b(1). Record entry Clear entry View general journal
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $116,000. b. Direct materials used in production, $46,000. Indirect materials used in production, $20,600. c. Paid cash for factory payroll, $55,000. Of this total, $41,000 is for direct labor and $14,000 is for indirect labor. d. Paid cash for other actual overhead costs, $9,250. e. Applied overhead at the rate of 120% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $85,600. 91. Jobs that had a cost of $85,600 were sold. 92. Sold jobs on account for $123,000. View transaction list Journal entry worksheet < 1 2 2 3 3 4 5 6 7 8 9 > Record the entry for indirect materials. Note: Enter debits before credits. General Journal Debit Credit Transaction (2) Record entry Clear entry View general journal
Journal entry worksheet < 1 2 3 3 5 5 6 7 8 9 > Record the usage of direct and indirect labor, paid in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit C. Record entry Clear entry View general journal
Journal entry worksheet < 1 2 3 4 5 6 7 8 9 > Record other actual overhead costs, paid in cash. Note: Enter debits before credits. General Journal Debit Credit Transaction d. Record entry Clear entry View general journal
Journal entry worksheet 1 2 3 3 4 5 5 6 6 7 8 9 Record the entry to apply overhead at a rate of 120% of direct labor cost. Note: Enter debits before credits. Transaction General Journal Debit Credit e. Record entry Clear entry View general journal
Journal entry worksheet < 1 2 3 4 5 5 6 7 8 9 > Record costs of jobs completed. Note: Enter debits before credits. General Journal Debit Credit Transaction f. Record entry Clear entry View general journal
Journal entry worksheet < 1 2 3 4 5 6 7 8 9 Record the cost of the jobs sold. Note: Enter debits before credits. General Journal Debit Credit Transaction g(1). Record entry Clear entry View general journal
Journal entry worksheet < 1 2 3 3 4 5 6 7 8 9 Record sales on account. Note: Enter debits before credits. Transaction General Journal Debit Credit g(2) Record entry Clear entry View general journal
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Credit Debit $116,000 Si.No. Transaction General Journal 1 a Raw Materials Inventory Accounts Payable (To record raw material7 f $ 85,600 Finished Goods Inventory Work In Process Inventory (To record transfer of completed cost of jobs to finished goo

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