Azzarelli, Corp makes picture frames and reports the following for the month of May: Description Amount Purchases of materials on account 53,330 Subcategory,Materials requisitions: Direct Materials 49,730 Indirect Materials 1,280 Subcategory,Labor costs incurred (not yet paid): Direct Materials 24,520 Indirect Materials 1,920 Journalize the entries at the end of the month to record the transactions relating to materials and labor.
Azzarelli, Corp makes picture frames and reports the following for the month of May: Description Amount Purchases of materials on account 53,330 Subcategory,Materials requisitions: Direct Materials 49,730 Indirect Materials 1,280 Subcategory,Labor costs incurred (not yet paid): Direct Materials 24,520 Indirect Materials 1,920 Journalize the entries at the end of the month to record the transactions relating to materials and labor.
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter2: Accounting For Materials
Section: Chapter Questions
Problem 5E: Recording materials transactions Prepare a journal entry to record each of the following materials...
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Question
Azzarelli, Corp makes picture frames and reports the following for the month of May:
Journalize the entries at the end of the month to record the transactions relating to materials and labor.
Journal
| Description | Amount |
|---|---|
| Purchases of materials on account | 53,330 |
| Subcategory,Materials requisitions: | |
| Direct Materials | 49,730 |
| Indirect Materials | 1,280 |
| Subcategory,Labor costs incurred (not yet paid): | |
| Direct Materials | 24,520 |
| Indirect Materials | 1,920 |
Journal
| Date | Description | Debit | Credit |
|---|---|---|---|
| May 31 | |||
| May 31 | |||
| May 31 | |||
| May 31 | |||
| May 31 | |||
| May 31 | |||
| May 31 | |||
| May 31 |
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