State the journal entries necessary to record the above transactions in the general journal: a) For direct materials used in November b) For indirect material issued to production in November c) For...


State the journal entries necessary to record the above transactions in the general journal:


a) For direct materials used in November
b) For indirect material issued to production in November
c) For total manufacturing labour incurred in November
d) To assign manufacturing labour to the appropriate accounts
e) For other manufacturing overhead incurred
f) For manufacturing overhead applied to production for November, given that Harriott
manufacturing company worked 2,860 machine hours.
g) To move the completed jobs into finished goods inventory
h) To sell the two completed jobs on account


The Harriott manufacturing company uses job order costing system. The company uses machine<br>hours to apply overhead cost to jobs. At the beginning of 2020, the company estimated that 31,400<br>machine hours would be worked and $5,024,000 overhead cost would be incurred during 2020.<br>The following activities took place in the work in process inventory during February:<br>WIP Inventory A/C_<br>November 1 Bal. b/f<br>Direct Materials Used<br>$51,250<br>256,400<br>Other transactions incurred:<br>• Indirect material issued to production was $40,360<br>Total manufacturing labour incurred in November was $368,000, 75% of this amount<br>represented direct labour.<br>• Other manufacturing overhead costs incurred for November amounted to $340,490.<br>• Two jobs were completed with total costs of $384,00o & $270,000 respectively. They were<br>sold on account at a margin of 33½% on sales.<br>

Extracted text: The Harriott manufacturing company uses job order costing system. The company uses machine hours to apply overhead cost to jobs. At the beginning of 2020, the company estimated that 31,400 machine hours would be worked and $5,024,000 overhead cost would be incurred during 2020. The following activities took place in the work in process inventory during February: WIP Inventory A/C_ November 1 Bal. b/f Direct Materials Used $51,250 256,400 Other transactions incurred: • Indirect material issued to production was $40,360 Total manufacturing labour incurred in November was $368,000, 75% of this amount represented direct labour. • Other manufacturing overhead costs incurred for November amounted to $340,490. • Two jobs were completed with total costs of $384,00o & $270,000 respectively. They were sold on account at a margin of 33½% on sales.

Jun 03, 2022
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