Varner Company Purchases 54 100 Of Raw Materials On Account And It Incurs 64 900 Of Factory Labor Costs Supporting R 1 (40.88 KiB) Viewed 69 times
Varner Company Purchases 54 100 Of Raw Materials On Account And It Incurs 64 900 Of Factory Labor Costs Supporting R 2 (36.92 KiB) Viewed 69 times
Varner Company purchases $54,100 of raw materials on account, and it incurs $64,900 of factory labor costs. Supporting records how that (a) the Assembly Department used $31,500 of the raw materials and $38,100 of the factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs. Journalize the assignment of overhead to the Assembly and Finishing Departments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Mar.31 4 Debit Credit
Warner Company purchases $51,900 of raw materials on account, and it incurs $64.900 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 31 (To record raw materials purchased) (To record factory labor costs) Debit Credit 1.70
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