(Answered) Journal entries in a job order cost accounting systemrecord

Accounting

JOURNAL ENTRIES IN A JOB ORDER COST ACCOUNTING SYSTEM

Record the following entries for Jen Manufacturing.

(ASK YOUR INSTRUCTOR FOR A JOURNAL FORM)

1. Purchased materials costing $20,000 on account.

2. Materials costing $13,000 were requisitioned for use in making specific customer jobs. An additional $1,000 in materials was requisitioned for general factory use.

3. $7,800 was paid to direct laborers. An additional $9,500 was paid to factory employees who do not work directly on Jen's products.

4. Factory overhead expenses totaling $5,000 were paid in cash.

5. $3,700 in depreciation was recorded on factory machines.

6. Overhead was applied to production using a predetermined rate of $24.50 per direct labor hour. Jen used 780 direct labor hours during the period.

7. Jobs costing $38,000 were completed.

8. Jobs costing $32,000 were sold to credit customers for $55,000.

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