Retained Earnings Transaction Yes No a. ... b. C. d. e. f. h. 1. j. k. ...
Transaction Analysis
Dixon Company is a manufacturer that completed numerous transactions during the month, some of which are shown below:
a. Raw materials purchased on account, $100,000.
b. Raw materials used in production, $78,000 direct materials, and $16,000 indirect materials.
c. Sales commissions paid in cash, $45,000.
d.
e. Sales for the month, $450,000 (70% cash sales and the remainder were sales on account).
f. Factory utilities paid in cash, $12,000.
g. Applied $138,000 of manufacturing overhead to production during the month.
h. Various
i. Cash receipts from customers who had previously purchased on credit, $115,000.
j. Various completed jobs costing a total of $220,000 were sold to customers.
k. Cash paid to raw material suppliers, $90,000.
Required:
The table shown below includes only one account from Dixon Company’s
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
