No Transaction General Journal Debit Credit 1 a. Raw materials inventory 540,000 Accounts payable 540,000 2 b Work in process inventory Raw materials inventory C. Work in process inventory Cash 4 d. Factory overhead Cash 5 е. Work in process inventory Factory overhead 6 f(1). Factory overhead Raw materials inventory 7 f(2). Factory overhead Cash 3. 8 f(3). Factory overhead Accumulated depreciation-factory equipment 9 f(4). Factory overhead Cash 10 g. Finished goods inventory Work in process inventory 11 h. Cost of goods sold Finished goods inventory 12 Cash Sales 13 j. Cost of goods sold Factory overhead
roblem 19-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4
Skip to question
[The following information applies to the questions displayed below.]
Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $540,000, and
| Job 306 | Job 307 | Job 308 | ||||||||||
| Balances on March 31 | ||||||||||||
| Direct materials | $ | 32,000 | $ | 37,000 | ||||||||
| Direct labor | 25,000 | 16,000 | ||||||||||
| Applied overhead | 12,500 | 8,000 | ||||||||||
| Costs during April | ||||||||||||
| Direct materials | 138,000 | 215,000 | $ | 105,000 | ||||||||
| Direct labor | 104,000 | 151,000 | 102,000 | |||||||||
| Applied overhead | ? | ? | ? | |||||||||
| Status on April 30 | Finished (sold) | Finished (unsold) | In process | |||||||||
Job costing is one of the type of costing, under which all costs are being assigned and accumulated on the basis of individual jobs.
Step by step
Solved in 2 steps with 1 images
