Foundational 3-5 (LO2- CC4; LO3- CC5; L04 - CC8; L05 - CC10; L06 - CC13; L07 - CC14; L08- CC18) Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-job P and job Q. Job P, consisting of 30,500 units, was completed and sold by the end of the March but job Q was still incomplete. The company uses a plantwide predetermined overhead rate based on direct labour-hours. The following additional information is available for the company as a whole and for jobs P and Q (all data and questions relate to the month of March): Estimated totaly fixed manufacturing overhead Estimated variable manufacturing overhead per direct labour-hour Estimated total direct labour-hours to be worked Total actual manufacturing overhead costs incurred Direct materials Direct labour cost Actual direct labour-hours worked View transaction list Journal entry worksheet Required: Assume the ending raw materials inventory is $2,000 and the company does not use any indirect materials. Prepare the journal entries to record raw materials purchases and the issuance of direct materials for use in production. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Foundational 3-5 (LO2 - CC4; LO3 - CCS; LO4 - CC8;LO5 - CC10; LO6 - CC13; LO7 - CC14; LOB CC18) Sweeten Company hed no jobs in progress at the beginning of March and no beginning irvectoties. It started only two jobs during March-job P and job Q. Job P, consisting of 30,500 units, was completed and sold by the end of the March but job Q was stil incomplete. The company uses a plantwide predetermined overhesd rate baspd on direct labour hours. The following additional information is a vallable for the company as a whole and for jobs P and Q (all date and questions relate to the month of March): Required: Assume the ending raw manerials inventory is $2,000 and the company does not use any indirect materials. Prepare the joumal entries to record raw materials purchases and the issusnce of direct matefials for use in production. if no entry is requared for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet
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