Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 29 Jul 2017 My Price 9.00

Greivell Manufacturing Company

E3-4 Greivell Manufacturing Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,200, Work in Process—Cutting $2,900, Work in Process—Assembly $10,600, and Finished Goods $31,000. During July, the fol- lowing  transactions occurred.

1.   Purchased $62,500 of raw materials on account.

2.   Incurred $56,000 of factory labor. (Credit Wages Payable.)

3.   Incurred $70,000 of manufacturing overhead; $40,000 was paid and the remainder is unpaid.

4.   Requisitioned materials for Cutting $15,700 and Assembly $8,900.

5.   Used factory labor for Cutting $29,000 and Assembly $27,000.

6.   Applied overhead at the rate of $15 per machine hour. Machine hours were Cutting 1,680 and Assembly 1,720.

7.   Transferred goods costing $67,600 from the Cutting Department to the Assembly Department.

8.   Transferred goods costing $134,900 from Assembly to Finished Goods.

9.   Sold goods costing $150,000 for $200,000 on account.

Instructions

Journalize the transactions. (Omit explanations.)

 

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Jul 2017 11:07 PM My Price 9.00

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