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Foley Company uses a job-order costing system. The following data relate to the month of October, the first month of the companys fiscal year:

a.	Raw materials purchased on account, $211,000.
b.	Raw materials issued to production, $190,000 (80% direct and 20% indirect).
c.	Direct labor cost incurred, $48,000; and indirect labor cost incurred, $21,000.
d.	Depreciation recorded on factory equipment, $105,000.
e.	Other manufacturing overhead costs incurred during October, $130,000 (credit accounts payable).
f.	The company applies manufacturing overhead cost to production on the basis of $4 per machine-hour. A total of 76,000 machine-hours were recorded for October.
g.	Production orders costing $515,000 according to their job cost sheets were completed during October and transferred to Finished Goods.
h.	Production orders that had cost $451,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold on account at 50% above cost.

Required:
1.	Prepare journal entries to record the information given above.

	General Journal	Debit	Credit
a.	(Click to select)Raw materials inventoryFinished goodsManufacturing overheadAccounts payableSalaries and wages payableCost of goods soldAccumulated depreciationWork in process
	(Click to select)Manufacturing overheadSalaries and wages payableCost of goods soldFinished goodsWork in processAccumulated depreciationRaw materials inventoryAccounts payable
b.	(Click to select)Finished goodsWork in processCost of goods soldRaw materials inventoryAccumulated depreciationAccounts payableSalaries and wages payableManufacturing overhead
	(Click to select)Cost of goods soldManufacturing overheadWork in processSalaries and wages payableFinished goodsRaw materials inventoryAccounts payableAccumulated depreciation
	(Click to select)Raw materials inventoryFinished goodsWork in processAccumulated depreciationAccounts payableSalaries and wages payableManufacturing overheadCost of goods sold
c.	(Click to select)Raw materials inventoryFinished goodsWork in processCost of goods soldSalaries and wages payableManufacturing overheadAccounts payableAccumulated depreciation
	(Click to select)Work in processRaw materials inventoryAccounts payableCost of goods soldFinished goodsManufacturing overheadSalaries and wages payableAccumulated depreciation
	(Click to select)Salaries and wages payableRaw materials inventoryAccounts payableWork in processCost of goods soldAccumulated depreciationFinished goodsManufacturing overhead
d.	(Click to select)Cost of goods soldAccounts payableFinished goodsAccumulated depreciationManufacturing overheadWork in processRaw materials inventorySalaries and wages payable
	(Click to select)Manufacturing overheadAccumulated depreciationWork in processCost of goods soldFinished goodsAccounts payableSalaries and wages payableRaw materials inventory
e.	(Click to select)Manufacturing overheadRaw materials inventoryAccumulated depreciationFinished goodsWork in processCost of goods soldSalaries and wages payableAccounts payable
	(Click to select)Salaries and wages payableFinished goodsRaw materials inventoryWork in processCost of goods soldAccumulated depreciationManufacturing overheadAccounts payable
f.	(Click to select)Raw materials inventoryWork in processManufacturing overheadAccounts payableCost of goods soldAccumulated depreciationSalaries and wages payableFinished goods
	(Click to select)Raw materials inventoryAccumulated depreciationManufacturing overheadCost of goods soldAccounts payableFinished goodsWork in processSalaries and wages payable
g.	(Click to select)Accounts payableWork in processFinished goodsCost of goods soldManufacturing overheadSalaries and wages payableRaw materials inventoryAccumulated depreciation
	(Click to select)Cost of goods soldManufacturing overheadSalaries and wages payableFinished goodsRaw materials inventoryWork in processAccounts payableAccumulated depreciation
h.	(Click to select)Finished goodsAccumulated depreciationSalaries and wages payableRaw materials inventoryManufacturing overheadAccounts receivableWork in processAccounts payable
	(Click to select)Cost of goods soldRaw materials inventorySalaries and wages payableManufacturing overheadAccumulated depreciationAccounts payableSalesWork in process
	(Click to select)Accumulated depreciationFinished goodsCost of goods soldAccounts payableRaw materials inventorySalaries and wages payableManufacturing overheadWork in process
	(Click to select)Salaries and wages payableAccounts payableManufacturing overheadRaw materials inventoryCost of goods soldFinished goodsAccumulated depreciationWork in process

2.	Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant information above to each account. Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $35,000. (Record the transactions in the given order.)

Manufacturing Overhead

(Click to select)(a)(b)(c)(d)(e)(f)(g)(h)			(Click to select)(a)(b)(c)(d)(e)(f)(g)(h)
(Click to select)(a)(b)(c)(d)(e)(f)(g)(h)
(Click to select)(a)(b)(c)(d)(e)(f)(g)(h)
(Click to select)(a)(b)(c)(d)(e)(f)(g)(h)
			End. Bal

Work in Process

Beg. Bal			(Click to select)(a)(b)(c)(d)(e)(f)(g)(h)
(Click to select)(a)(b)(c)(d)(e)(f)(g)(h)
(Click to select)(a)(b)(c)(d)(e)(f)(g)(h)
(Click to select)(a)(b)(c)(d)(e)(f)(g)(h)
End. Bal

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