1. LESSON 20-1 Journalizing Manufacturing Accounting Transactions
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LESSON 20-1
Journalizing Manufacturing Accounting Transactions
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2. FLOW OF MANUFACTURING COSTS
LESSON 20-1
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FLOW OF MANUFACTURING COSTS
page 585
1. Record materials purchased. 1 2 6 7
2. Record materials transferred. 3
3. Record factory payroll. 5
4. Close individual manufacturing expense accounts.
5. Record applied overhead. 4
6. Record cost of products completed.
7. Record cost of products sold.
LESSON 20-1
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3. JOURNAL ENTRIES TO RECORD FACTORY PAYROLL FOR A MONTH
LESSON 20-1
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JOURNAL ENTRIES TO RECORD FACTORY PAYROLL FOR A MONTH
page 586 1 2 3 4 5 6
January 15
1. Debit the factory accounts.
January 31
4. Debit the factory accounts.
2. Credit the three tax withholding accounts.
5. Credit the three tax withholding accounts.
3. Credit cash for the next payroll.
6. Credit cash for the next payroll.
LESSON 20-1
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4. RECORDING MATERIALS PURCHASES
LESSON 20-1
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RECORDING MATERIALS PURCHASES
page 587
LESSON 20-1
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5. RECORDING MATERIALS REQUISITIONS
LESSON 20-1
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RECORDING MATERIALS REQUISITIONS
page 587
LESSON 20-1
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6. MATERIALS AND LABOR USED IN PRODUCTION
LESSON 20-1
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MATERIALS AND LABOR USED IN PRODUCTION
page 588
Work in Process
Bal. 82,579.00
Jan. 15 Direct Labor 39,245.00
Jan. 31 Direct Labor 44,255.00
Jan. 31 Direct Materials 156,477.00
Factory Overhead
Jan. 15 Indirect Labor 11,774.00
Jan. 31 Indirect Labor 13,276.00
Jan. 31 Indirect Materials 11,447.50
LESSON 20-1
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7. JOURNALIZING ACTUAL FACTORY OVERHEAD
LESSON 20-1
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JOURNALIZING ACTUAL FACTORY OVERHEAD
page 588
LESSON 20-1
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8. RECORDING APPLIED OVERHEAD
LESSON 20-1
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RECORDING APPLIED OVERHEAD
page 589
LESSON 20-1
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9. DISPOSING OF OVERAPPLIED AND UNDERAPPLIED FACTORY OVERHEAD BALANCES
page 589
LESSON 20-1

10. RECORDING FINISHED GOODS TRANSACTIONS
LESSON 20-1
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RECORDING FINISHED GOODS TRANSACTIONS
page 590
LESSON 20-1
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11. RECORDING SALES AND COST OF GOODS SOLD
LESSON 20-1
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RECORDING SALES AND COST OF GOODS SOLD
page 590
LESSON 20-1
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12. TERMS REVIEW underapplied overhead overapplied overhead page 592
LESSON 20-1