1. Business
  2. Accounting
  3. kimmel accounting 6e help 1 exercise 164 schrager company has...

Question: kimmel accounting 6e help 1 exercise 164 schrager company has...

Question details

Kimmel Accounting, 6e Help 1 Exercise 16-4 Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials$4,600, Work in Process-Cutting $3.500, Work in Process-Assembly $11,400, and Finished Goods $32,600. During July, the f transactions occurred. 1. Purchased $63,100 of raw materials on account. 2. Incurred $60,900 of factory labor. (Credit Wages Payable.) 3. Incurred $71,600 of manufacturing overhead: $41,900 was paid and the remainder is unpaid 4. Requisitioned materials for Cutting $16,700 and Assembly $9,700. 5. Used factory labor for Cutting $34,000 and Assembly $26.900. 6. Applied overhead at the rate of $21 per machine hout, Machine hours were Cutting 1,720 and Assembly 7. Transferred goods costing $69,660 from the Cutting Department to the Assembly Department. 8. Transferred goods costing $135,600 from Assembly to Finished Goods. 9. Soid goods costing $152.900 for $202,600 on account. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit No. Account Titles and Explanation 2. 3. 4.

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution