Answer Happy

5 12 Dom Exercise 3-5 (Algo) Journal Entries and T-accounts [LO3-1, LO3-2] The Polaris Company uses a job-order costing system. The following transactions occurred in October a Raw materials purchased on account $210,000 b. Raw materials used in production, $101000 ($152.800 direct materials and $38.200 indirect materials) c Accrued direct labor cost of $49,000 and indirect labor cost of $22.000 d. Depreciation recorded on factory equipment, $105,000 e. Other manufacturing overhead costs accrued dunng October, $129.000 The company applies manufacturing overhead cost to production using a predetermined rate of $5 per machine-hour. A total of 76.400 machine-hours were used in October Jobs costing $510,000 according to their job cost sheets were completed during October and transferred to Finished Goods h Jobs that had cost $453,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 28% above cost Pre Required: Prepare journal entries to record the transactions given above 2. Prepare T-accounts for Manufacturing Overhead and Work in Process Post the relevant transactions from above to each account Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $35,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the transactions given above. (If entry is required for a transaction/event, select "No journal entry required in the first account d View transaction View mal entry work O To je j 4 0
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the transactions given above. (If no entry is required for a transaction event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet No General Journal Debit Credit Raw materials N 1 V 2 (3 Transaction W b 5 Accounts payable Work in process Manufacturing overhead Raw materials Work in process Manufacturing overhead Salaries and wages payable Shak Required 2 > 210.000 152,800 38.200 210.000 191,000
4 Prict ២ reu i Pined Goods Jobs that had cost $453,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 28% above cost. Required: L Prepare journal entries to record the transactions given above. 2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $35.000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare T-accounts for Manufacturing Overhead and Work in Process, Post the relevant transactions from above to each account. Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $35,000 Manufactuning Overhead Work in Proces Deb Credi Deba Crede Beglening balance Beginning balance Endeg balance Ending balance Required 1