debit credit journal entries task a corporation uses a job order costing system to a 3268001

Debit-credit journal entries

Task: A corporation uses a job order costing system to account for production.  During the month of January, the following events occurred:
A materials were purchased on account for $35,480
B materials totaling $33,650 were requisitioned for use in production
C direct labor payroll was $15,750 for January
D actual overhead of $41,260 was incurred and paid. (use the account title “Variousâ€)
E factory overhead was charged to production at the rate of 280 % of direct labor
F completed units costing $85,450 were transferred to finished goods
G units costing $77,825 were sold on account for $101,175

Required to do:
Q1. What would the debit/credit journal entries look like for the above transactions?
Q2. What would the “T†accounts look like for the following: Materials, Work In Process, Overhead Control and Finished Goods? What would the ending balance be for these accounts, assuming no beginning balances?

Debit-credit journal entries
Accounting Basics

 

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