Crawford Corporation incurred the following transactions. 1. 2. 3. 4. 5. 6. 7. 8. 9. Purchased raw materials on account $52,200. Raw Materials of $42,600 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,500 was classified as indirect materials. Factory labor costs incurred were $60,700, of which $50,200 pertained to factory wages payable and $10,500 pertained to employer payroll taxes payable. Time tickets indicated that $55,000 was direct labor and $5,700 was indirect labor. Manufacturing overhead costs incurred on account were $81,500. Depreciation on the company's office building was $8,500. Manufacturing overhead was applied at the rate of 150% of direct labor cost. Goods costing $93,200 were completed and transferred to finished goods. Finished goods costing $84,300 to manufacture were sold on account for $113,200. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually)

Crawford Corporation incurred the following transactions. 1. 2. 3. 4. 5. 6. 7. 8. 9. Purchased raw materials on account $52,200. Raw Materials of $42,600 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,500 was classified as indirect materials. Factory labor costs incurred were $60,700, of which $50,200 pertained to factory wages payable and $10,500 pertained to employer payroll taxes payable. Time tickets indicated that $55,000 was direct labor and $5,700 was indirect labor. Manufacturing overhead costs incurred on account were $81,500. Depreciation on the company's office building was $8,500. Manufacturing overhead was applied at the rate of 150% of direct labor cost. Goods costing $93,200 were completed and transferred to finished goods. Finished goods costing $84,300 to manufacture were sold on account for $113,200. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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