Barker Products is a job shop. The following events occurred in September: 1. Purchased $13,700 of materials on account. 2. Issued $15,200 in direct materials to the production department. 3. Purchased $11,700 of materials on account. 4. Issued $935 of supplies from the materials inventory. 5. Paid for the materials purchased in transaction (1). 6. Paid $19,900 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing pla 7. Incurred direct labor costs of $23,400, which were credited to Wages Payable. 8. Issued $1,335 of supplies from the materials inventory. 9. Applied overhead on the basis of 85 percent of $23,400 direct labor costs. 10. Recognized depreciation on manufacturing property, plant, and equipment of $12,300. The following balances appeared in the accounts of Barker Products for September: Materials Inventory Work-in-Process Inventory Finished Goods Inventory Cost of Goods Sold Beginning $ 33,800 6,170 34,100 Ending ? $ 30,900 55,600 Required: a. Prepare journal entries to record the transactions. b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold.
Barker Products is a job shop. The following events occurred in September: 1. Purchased $13,700 of materials on account. 2. Issued $15,200 in direct materials to the production department. 3. Purchased $11,700 of materials on account. 4. Issued $935 of supplies from the materials inventory. 5. Paid for the materials purchased in transaction (1). 6. Paid $19,900 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing pla 7. Incurred direct labor costs of $23,400, which were credited to Wages Payable. 8. Issued $1,335 of supplies from the materials inventory. 9. Applied overhead on the basis of 85 percent of $23,400 direct labor costs. 10. Recognized depreciation on manufacturing property, plant, and equipment of $12,300. The following balances appeared in the accounts of Barker Products for September: Materials Inventory Work-in-Process Inventory Finished Goods Inventory Cost of Goods Sold Beginning $ 33,800 6,170 34,100 Ending ? $ 30,900 55,600 Required: a. Prepare journal entries to record the transactions. b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold.
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 12PA: The following data summarize the operations during the year. Prepare a journal entry for each...
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