Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. jacuzi farm irrigation manufacturing company had t

Jacuzi Farm Irrigation Manufacturing Company had the following transactions during the mon June 2021: 1....

50.1K

Verified Solution

Question

Accounting

image
Jacuzi Farm Irrigation Manufacturing Company had the following transactions during the mon June 2021: 1. Purchased raw materials on account, $87,805. 2. Raw Materials of $76,780 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,980 was classified as indirect materials. 3. Factory labor costs incurred were $232,750 of which $192,850 pertained to factory wages payable and $39,900 pertained to employer payroll taxes payable. 4. Time tickets indicated that $186,200 was direct labor and $46,550 was indirect labor. 5. Overhead costs incurred on account were $237,660. 6. Manufacturing overhead was applied at the rate of 125% of direct labor cost. 7. Goods costing $91,250 are still incomplete at the end of the month; the other goods were completed and transferred to finished goods. 8. Finished goods costing $142,740 to manufacture were sold on account for $271,200. 9. At the beginning of June, work in process inventory was $27,845. Instructions and a Hint: 1. Using Word or Excel, Journalize in proper journal entry form, the above transactions for Jacuzi Irrigation Manufacturing Company, you do NOT need to provide explanations

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students