Sterling Products Company uses a job- order costing system. The company incurred the following manufacturing...
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Accounting
Sterling Products Company uses a job- order costing system. The company incurred the following manufacturing costs during March:
a. Purchased materials on credit,$58,800.
b. Issued materials to production as follows: direct,$51,000; indirect,$111,300.
c. Incurred factory wages,$59,400.
d. Allocated factory wages to production as follows: direct,$45,000;indirect,$14,900.
e. incurred factory overhead costs on account,$2,500.
f. Recognized other factory overhead costs as follows: depreciation of equipment,$4,00; depreciation of building,$5,000;expired insurance,$600; accrued property taxes, $1,800.
g. Applied factory overhead to production,$32,500.
h. completed jobs costing $125,500.
i. Sold finished goods costing $118,900 to various customer; billed customers for $161,704
( make two entries ).
Required:
Record these summary transactions in general journal form.
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