Question

Exercise 16-8 Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production 1. Materials purchased on account $194,000, and factory wages incurred $92,400. 2. Materials requisitioned and factory labor used by job: Job Number A20 A21 A22 A23 General factory use Materials $36,840 44,520 36,600 40,870 4,870 $163,700 Factory Labor $18,700 22,900 15,700 26,900 8,200 592,400 3. Manufacturing overhead costs incurred on account $52,100. 4. Depreciation on factory equipment $17,550. 5. Depreciation on the company's office building was $14,400. 6. Manufacturing overhead rate is 10% of direct labor cost. 7. Jobs completed during the quarter: A20, A21, and A23. Prepare entries to record the operations summarized above. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Answer 1

		Factory	Factory	total
	Materials	labor	overhead
job No
A20	36,840	18,700	14960	70,500
A21	44,520	22,900	18320	85,740
A22	36,600	15,700	12560	64,860
A23	40,870	26,900	21520	89,290
total	158,830	84,200	67360	310,390
	journal Entries
No.	Account titles & Explanations				Debit	Credit
1)	Raw materials inventory				194,000
	Accounts payable					194,000
	Factory wages				92,400
	Factory wages payable					92,400
2)	Work in process				243,030
	Factory overhead				13070
	Raw material inventory					163,700
	Factory wages					92,400
3)	Factory overhead				52,100
	Accounts payable					52,100
4)	Factory overhead				17,550
	Accumulated deprecaition					17,550
5)	Depreciation expense				14,400
	Accumulated depreciation					14,400
6)	work in process inventory				67360
	Factory overhead					67360
7)	Finished goods inventory				245,530
	work in process inventory					240,930