Part B Job Costing Answer the questions and record the following independent transactions into the...
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Accounting
Part B Job Costing
Answer the questions and record the following independent transactions into the general journal:
(a) 400 kg of direct materials was purchased at $25 per kg. Indirect factory supplies worth $2000 was also purchase. There was no opening inventory. Closing inventory was $500.
How much was issued?
(b)
Direct Material used was 164000
Direct labor incurred 226400
Overhead is applied at (%) 170
Actual Overhead 384900
Was overhead under or over applied? And how much?
Record the transfer to Finished goods inventory and the adjustment to under or over applied of overhead
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