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The following information relates to the manufacturing operations of O'Shaughnessy Mfg. Co. during the month of March. The company uses job order costing. |
| a. |
Purchases of direct materials during the month amount to $55,000. (All purchases were made on account.) |
| b. |
Materials requisitions issued by the Production Department during the month total $56,000. |
| c. |
Time cards of direct workers show 2,000 hours worked on various jobs during the month, for a total direct labor cost of $32,000. |
| d. |
Direct workers were paid $28,000 in March. |
| e. |
Actual overhead costs for the month amount to $36,000 (for simplicity, you may credit Accounts Payable). |
| f. |
Overhead is applied to jobs at a rate of $18 per direct labor hour. |
| g. |
Jobs with total accumulated costs of $100,000 were completed during the month. |
| h. |
During March, units costing $120,000 were sold for $200,000. (All sales were made on account.) |
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Prepare general journal entries to summarize each of these transactions in the company's general ledger accounts.(Omit the "$" sign in your response.) |
| Â | General Journal | Debit | Credit |
| a. | (Click to select) Rental equipment Direct labor Wages expense Rent expense Work in process inventory Materials inventory Utilities expense Accounts payable | Â | Â |
| Â | (Click to select) Work in process inventory Accounts receivable Wages expense Office supplies Rent expense Salaries payable Accounts payable Utilities expense | Â | Â |
| Â | Â | Â | Â |
| b. | (Click to select) Depreciation expense Direct labor Wages expense Rental equipment Various accounts Rent expense Work in process inventory Finished goods inventory | Â | Â |
| Â | (Click to select) Insurance expense Materials inventory Accounts payable Depreciation expense Various accounts Salaries payable Accrued wages payable Office supplies | Â | Â |
| Â | Â | Â | Â |
| c. | (Click to select) Rent expense Utilities expense Various accounts Finished goods inventory Depreciation expense Salaries payable Selling and administrative expenses Work in process inventory | Â | Â |
| Â | (Click to select) Utilities expense Accounts payable Salaries payable Depreciation expense Selling and administrative expenses Direct labor Rental equipment Work in process inventory | Â | Â |
| Â | Â | Â | Â |
| d. | (Click to select) Rent expense Office supplies Selling and administrative expenses Various accounts Finished goods inventory Direct labor Salaries payable Interest expense | Â | Â |
| Â | (Click to select) Wages expense Various accounts Accounts receivable Salaries payable Cash Depreciation expense Utilities expense Cost of goods sold | Â | Â |
| Â | Â | Â | Â |
| e. | (Click to select) Direct labor Utilities expense Manufacturing overhead Salaries payable Depreciation expense Cost of goods sold Accounts payabl Deferred revenue | Â | Â |
| Â | (Click to select) Direct labor Insurance expense Various accounts Salaries payable Rent expense Finished goods inventory Accounts payable Utilities expense | Â | Â |
| Â | Â | Â | Â |
| f. | (Click to select) Salaries payable Accumulated depreciation Work in process inventory Depreciation expense Rental equipment Preferred stock Direct labor Accounts payable | Â | Â |
| Â | (Click to select) Utilities expense Cost of goods sold Rental equipment Various accounts Manufacturing overhead Depreciation expense Salaries payable Accounts payable | Â | Â |
| Â | Â | Â | Â |
| g. | (Click to select) Rent expense Finished goods inventory Work in process inventory Deferred revenue Utilities expense Accounts payable Depreciation expense Cost of goods sold | Â | Â |
| Â | (Click to select) Depreciation expense Cost of goods sold Accounts payable Rental equipment Various accounts Work in process inventory Interest expense Rent expense | Â | Â |
| Â | Â | Â | Â |
| h. | (Click to select) Sales tax payable Depreciation expense Utilities expense Salaries payable Cash Accounts receivable Direct labor Work in process inventory | Â | Â |
| Â | (Click to select) Accounts payable Wages expense Direct labor Accrued wages payable Deferred revenue Sales Utilities expense Work in process inventory | Â | Â |
| Â | Â | Â | Â |
| Â | (Click to select) Accounts payable Utilities expense Cost of goods sold Accrued wages payable Work in process inventory Rental equipment Sales tax payable Office supplies | Â | Â |
| Â | (Click to select) Cost of goods sold Depreciation expense Accounts payable Interest expense Income taxes expense Finished goods inventory Various accounts Rental equipment | Â | Â |
Please explain how to do it and what i use in the journal entires I dont understand and want to |
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