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Record in good journal entry format the following transactions:

1. April 10, 300 units of raw materials were purchasedat $5.50.

2. April 15, 200 units of raw materials were requisitionedat $6.00 for production, Job 345.

3. April 25, 100 units of rawmaterials were requisitioned at $5.50 for production, Job555.

The Cavy Company estimates that the factory overhead for the following year will be $1,250,000. The company has decided that thebasis for applying factory overhead should be machine hours, whichis estimated to be 40,000 hours. The machine hours for the month ofApril for all of the jobs was 4,780. What is the amount that will be applied to all of the jobs for the month of April?

Factoryoverhead 1,250,000
Estimated overheadhours 40,000
Machinehours 4,780
Total amount appliedforApril 44,780

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9797240

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