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Question 2: Production activities of Company B for the year of 2018 are below: 1....

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Accounting

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Question 2: Production activities of Company B for the year of 2018 are below: 1. The company purchases 800.000 TL worth material during the period. 2. Cost of direct material used in manufacturing is 500.000 TL 3. Cost of indirect material used in manufacturing is 100.000 TL 4. Total labor expenses incurred by the company is 1.000.000 TL and it can be grouped as fallows Direct labor : 800.000 TL Indirect labor : 200.000 TL 5. Predetermined manufacturing overhead rate is 150% of direct labor expense. 6. Ending WIP Inventory is 150.000 TL 7. %90 of finished goods are sold. 8. Sales revenue earned is 3.000.000 TL Actual operating and manufacturing related expenses are below: 9. Depreciation expense of marketing vehicles is 200.000 TL. 10. Depreciation expense of manufacturing machines is 450.000 TL. 11. Repair and Maintenance expense of manufacturing plant is 400.000 TL. 12. Insurance expense of manufacturing plant is 100.000 0. 00 mm Material Inventory, 75.000 TL, Jan 1 2018 WIP Inventory, 250.000 TL, Jan 1 2018 12 bo Finished Goods Inventory, 400.000 TL, Jan 1 2018 t on DDOD TOTO BOOT BIOS Y A Required: Record the journal entries of transactions for the period

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