During the current month, Wacholz Company incurs the following manufacturing costs. (a) Purchased raw materials of $ 18,000 on account. (b) Incurred factory labor of $ 40,000. Of that amount, $ 31,000 relates to wages payable and $ 9,000 relates to payroll taxes payable. (c) Factory utilities of $ 3,100 are payable, prepaid factory property taxes of $ 2,700 have expired, and depreciation on the factory building is $ 9,500. Prepare journal entries for each type of manufacturing cost. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
During the current month, Wacholz Company incurs the following manufacturing costs. (a) Purchased raw materials of $ 18,000 on account. (b) Incurred factory labor of $ 40,000. Of that amount, $ 31,000 relates to wages payable and $ 9,000 relates to payroll taxes payable. (c) Factory utilities of $ 3,100 are payable, prepaid factory property taxes of $ 2,700 have expired, and depreciation on the factory building is $ 9,500. Prepare journal entries for each type of manufacturing cost. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Accounting Information Systems
11th Edition
ISBN:9781337552127
Author:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Publisher:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Chapter16: The General Ledger And Business Reporting (gl/br) Process
Section: Chapter Questions
Problem 2DQ
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During the current month, Wacholz Company incurs the following manufacturing costs.
(a) | Purchased raw materials of $ 18,000 on account. | |
(b) | Incurred factory labor of $ 40,000. Of that amount, $ 31,000 relates to wages payable and $ 9,000 relates to payroll taxes payable. | |
(c) | Factory utilities of $ 3,100 are payable, prepaid factory property taxes of $ 2,700 have expired, and |
Prepare
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Account Titles and Explanation
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Debit
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Credit
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(a)
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(Purchases of raw materials on account) | |||
(b)
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(To record |
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(c)
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(To record |
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