tuscarora hardwoods, a custom manufacturer of furniture, uses job-order costing.

Question

tuscarora hardwoods, a custom manufacturer of furniture, uses job-order costing. the following transactions to support job mrs-55 for a custom meeting room set-a large table plus 16 chairs-occurred in january: (a) purchased $10,000 of raw materials. (b) issued $500 of supplies from raw-material inventory. (c) purchased $7,000 of raw material. (d) paid for the raw material purchased in transaction (a). (e) issued $8,500 in raw material to the production department. (f) incurred production labor costs of $12,500, which were credited to payroll payable. (g) paid $23,250 cash for utilities, power, equipment maintenance, and miscellaneous items for the manufacturing plant. (h) applied overhead on the basis of 185 percent of $8500 in material costs. (i) recognized depreciation on manufacturing property, plant, and equipment of $6250. prepare journal entries to record these transactions

Explanation / Answer

A

debit raw material a/c 10000

credit purchases a/c10000

B

Work-in-process inventorya/c debit 500

credit raw material a/c500

c

debit raw material a/c 7000

creditaccount payable a/c 7000

D

debit raw material a/c 7000

credit cash a/c 7000

E

Work-in-process inventorya/c debit8500

credit raw material a/c 8500

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