lo assigmen1 Saved Prepare journal entries to record the following production ac

Question

lo assigmen1 Saved Prepare journal entries to record the following production activities for Hotwax. 1. Requisitioned $13,400 of indirect materials for use in production of surfboard wax. 2 Incurred $220,000 overhead costs (credit Other accounts). 3. Applied overhead at the rate of 150% of direct labor costs. Direct labor costs were $190,000 ook View transaction list rint rences Journal entry worksheet Requisitioned $13,400 of indirect materials for use in production of surfboard wax. Note: Enter debits before credits Transaction General Journal Debit Credit

Explanation / Answer

Transaction General Journal Debit Credit 1 Work in progress A/c $          13,400 Inventory A/c $          13,400

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