90.2K

Verified Solution

Link Copied!

Prepare the journal entries to record the assignment of (1) direct materials. (2) direct laws, and (3) marutacturing overhead conts to production. In assigning manufacturing overhead costs, use the overhead rate calculated in ta). (Credit account titles are automatically indented when amount is entered. Do not indent manually Debit Credit No. Account Titles and Explanation (1) Work in Procest inventory 12950 2950 Raw Material tentory 52500 (2) Work In Process inventory $2500 Factory Labor 63000 (3) Work in Process inventory 63000 Manufacturing Overhead 7:12 (b) & (d) Open job cost sheets for Jobs 50, 51 and 52. Enter the January 1 balances on the job cott sheet for Job 50. Post all costs to the job cost sheets as necessary Job No. 50 Date Direct Materials Direct Labor Manufacturing Overhead Beg $ Jan S Prepare the journal entries to record the assignment of (1) direct materials. (2) direct laws, and (3) marutacturing overhead conts to production. In assigning manufacturing overhead costs, use the overhead rate calculated in ta). (Credit account titles are automatically indented when amount is entered. Do not indent manually Debit Credit No. Account Titles and Explanation (1) Work in Procest inventory 12950 2950 Raw Material tentory 52500 (2) Work In Process inventory $2500 Factory Labor 63000 (3) Work in Process inventory 63000 Manufacturing Overhead 7:12 (b) & (d) Open job cost sheets for Jobs 50, 51 and 52. Enter the January 1 balances on the job cott sheet for Job 50. Post all costs to the job cost sheets as necessary Job No. 50 Date Direct Materials Direct Labor Manufacturing Overhead Beg $ Jan S

Answer & Explanation Solved by verified expert

See Answer