Record the following transaction in the general journal, Ask an Expert

Accounting

Record the following transaction in the general journal with narratives.

Dec 1 purchased materials on account 40000.

5 direct materials requisitioned 25000

6 indirect materials requisitioned 10000

15 factory labour incurred - direct labour 30000 - indirect labour 14000

20 paid factory overheads in cash 8000

22 applied manufacturing overheads based on $9 per direct labour hours

28 goods costing 75000 were completed

30 goods costing 50000 were sold on account for 80000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92640544

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