please solve fast Question No. 4 (5 Marks: Cairo Products recorded...

70.2K

Verified Solution

Question

Accounting

please solve fast
image
Question No. 4 (5 Marks: Cairo Products recorded the following transactions for the just completed month a) $150,000 in raw materials were purchased for cash b) $145,000 in raw materials were requisitioned for use in production. Of this amount $134,000 was for direct materials and the remainder was for indirect materials c) Total labor wages of $304,000 were incurred and paid in case of this amount $263,000 was for direct labor and the remainder was for indirect labor d) Additional manufacturing overhead costs of 5252.000 were incurred and paid in cash e) Manufacturing overhead costs of $356,000 were applied to jobs using the company's predetermined overhead rate. All of the jobs in progress at the end of the month were completed and shipped to customers. The sales invoice totaled 800,000 collected in cash Required: Record the above transactions in journal entries Answer Accounts No G Page 5 of 6

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students