T-accounts for Job Order (20 points) Track the following transactions into T-accounts. You need to...
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Accounting
T-accounts for Job Order (20 points) Track the following transactions into T-accounts. You need to create T-accounts for the following accounts: Raw Materials Inventory, Work in Process Inventory, Finished Goods Inventory, Manufacturing Overhead, Accounts Payable, Salaries Payable, Cash, and Utilities Expense. Hint - you may not need all the accounts X1. Purchased Raw Materials on account -- $10,000 2. Requisitioned Raw Materials into the production process -- $8,000 (75% direct; 25% indirect) 3. Incurred wages (but did not pay today) for the manufacturing process -- $12,000 (80% direct, 20% indirect) 12000x, 120 4. Received and paid the utilities bill for the manufacturing plant.-- $800 -9600 5. Assigned $2,000 of manufacturing overhead to products being completed 6. Completed $3,500 of products and transferred to Finished goods
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