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Record in good journal entry format the following transactions:1. April 10, 300 units of raw materials were purchased at $5.50.2. April 15, 200 units of raw materials were requisitioned at $6.00 for production, Job 345.3. April 25, 100 units of raw materials 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 the basis for applying factory overhead should be machine hours, which is estimated to be 40,000 hours. The machine hours for the month of April 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?

Factory overhead 1,250,000

Estimated overhead hours 40,000

Machine hours 4,780

Total amount applied for April 44,780

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9797500

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