Homework Answers
Correct answer:
The correct journal entry will be: Option B
|
date |
General journal |
Debit |
credit |
|
xx-xx-xx |
Fixed overhead Control |
$ 49,000 |
|
|
accounts payable |
$ 3,000 |
||
|
salaries payable |
$ 32,000 |
||
|
accumulated depreciation |
$ 14,000 |
||
|
(To Record Actual Fixed Overhead costs incurred) |
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Fixed overhead costs for March for a factory were Salaries of $32.000, depreciation of $14,000, and...
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Finished Goods Inventory Manufacturing Overhead Operating Overhead Prepaid Insurance Prepaid Property Taxes Property Tax Payable Raw Materials Inventory Salaries and Wages Payable Sales Revenue Service Contracts in Process Service Salaries and Wages Supplies Utilities Payable Fort Corporation had the following transactions during its first month of operations: 1. Purchased raw materials on account, $85,000. 2. Raw Materials of $30,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,000 was classiñed as indirect materials. 3....
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