Answer:
Journal entry for each transaction is given below.
Materials were purchased on account for $5,429.
Debit Material Account $5,429
Credit Payable $5,429
Materials were requisitioned to begin work on Job C15 in the amount of $2,500.
Debit WIP JOB C15 Account $2,500
Credit Material Account $2,500
Direct labor expense for Job C15 was $4,250.
Debit WIP JOB C15 Account $4,250
Credit Payroll Account $4,250
Actual overhead was incurred on account for $5,385.
Debit Factory Overhead Control Account $5,385
Credit Expense payable/cash $5,385
Factory overhead was charged to Job C15 at the rate of 200% direct labor.
Debit WIP JOB C15 Account $8,500
Credit Applied Factory overhead Account $8,500
Job C15 was transferred to finished goods at $15,250.
Debit Finished Good Account $15,250
Credit WIP JOB C15 Account $15,250
Job C15 was sold on account for $28,000
(2 entries will be passed at this stage)
Debit Cost of Good Sold $15,250
Credit Finished Good Account $15,250
Debit Receivable/Cash Account $28,000
Credit Sales $28,000
