Prepare journal entries to record the following production activities for Hotwax. 1. Requisitioned $10,800 of...
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Prepare journal entries to record the following production activities for Hotwax. 1. Requisitioned $10,800 of indirect materials for use in production of surfboard wax. 2. Incurred $214,000 overhead costs (credit Other accounts). 3. Applied overhead at the rate of 160% of direct labor costs. Direct labor costs were $115,000 in the Mixing department and $75,000 in the Shaping department.. X Answer is not complete. No Transaction General Journal Debit Credit 1 1 Factory overhead 10,800 Raw materials inventory 10,800 2 2 Factory overhead V 214,000 Other accounts V 214,000 3 3 Work in process inventory-Mixing 184,000 Factory overhead X 304,000 X
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