Just Exercises 19-8, 19-9, and 19-10 April 30 osing sysiem May 31 Raw materials

Question

Just Exercises 19-8, 19-9, and 19-10

April 30 osing sysiem May 31 Raw materials n process 10,200 63,000 21.300 35 600 Ainished goods and informacion for May Asrx materials purchases (paid with cash) Factory payrol (paid with cash) Factory overhead 210.000 345,000 15,000 0,000 120,000 1400 000 Other overhead co Sales (received in cash) Predetermined overhead rate based on direct labor cow 70% e the following amounts for the month of May. 4. Cost of goods sold. 5. Gross profit. 6. Overapplied or underapplied overhead. Do not coesider any underapplised or cecrapplied overhead of direct materials used 2. Cost of direct labor used. 3. Cost of goods manufactured. Check 5 ation in Exercise 19-7 to prepare journal entries for the following events for the month of May. Exercise 19-8 1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage. materials P on in Esenzise 19-7 to prepare journal entries for the following events for the month of May.Exercise 19.9 Use informati 1. Direct labor usage 2. Indirect labor usage 3. Total payroll paid in cash. Journal entries for lab Lise information in Exercise 19-7 to prepare journal entries for the following events for the month of May. Exercise 19-10 1. Incurred other overhead costs (record credit to Other Accounts). urnal entries for overhead P3 2. Application of overhead to work in process Refer to information in Exercise 19-7. Prepare the journal entry to allocate (close) overapplied or underap Exercise 19-11 plied overhead to Cost of Goods Sold. Adjusting factory overhead P Record the journal entry to close over of the two companies below. Exercise 19-1 Adjusting factory - or underapplied factory overhead to Cost of Goods Sold for each overhead P Storm Concert Valle Home Promotions Builders 12,500

Explanation / Answer

19-8 1 Raw materials inventory 210000           Cash 210000 2 Work in process inventory 186000 =210000+43000-52000-15000         Raw materials inventory 186000 3 Factory overhead 15000         Raw materials inventory 15000 19-9 1 Work in process inventory 265000 =345000-80000          Factory wages payable 265000 2 Factory overhead 80000          Factory wages payable 80000 3 Factory wages payable 345000          Cash 345000 19-10 1 Factory overhead 120000        Other accounts 120000 2 Work in process inventory 185500 =265000*70%        Factory overhead 185500

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