EX 2. Using the format of job order costing summaries of journal entry; prepare journal...
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Accounting
EX 2. Using the format of job order costing summaries of journal entry; prepare journal entries to record the following transactions and events for August using a job order costing system. (50 points) (a) Purchased raw materials on credit, $65,000. (b) Raw materials requisitioned: $36,000 direct and $6,600 indirect. (c) Factory payroll totaled $54,000, including $8,700 indirect labor. (d) Paid other actual overhead costs totaling $16,600 cash. (e) Applied overhead totaling 90% of direct labor cost. (f) Finished and transferred jobs totaling $87,500. (g) Jobs costing $68,800 were sold on credit for $123,000
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