Answer:
a.
DR Raw Material Inventory $30,000
CR Accounts Payable $30,000
b.
DR Work in Process Inventory $33,900
CR Raw Material Inventory $33,900
Working
= Job 114 + Job 115 + Job 116
= 16,500 + 12,400 + 5,000 = $33,900
c.
DR Work in Process $7,430
CR Wages Payable $7,430
Working
= (150 * 15) + (220 * 17) + (80 * 18)
= $7,430
d.
DR Work in Process $4,458
CR Manufacturing Overhead $4,458
Working
Overhead as % of Direct labor cost using Job 115 = Applied Overhead / Direct labor = 936/1,560 = 60%
Manufacturing Overhead = Overhead rate * Direct labor
= 60% * 7,430 = $4,458
e.
DR Manufacturing Overhead $4,765
CR Accounts Payable $4,765
f.
DR Finished Goods $23,520
CR Work in Process $23,520
Job 115 costs = Beginning + Material + Labor + Overhead
= (2,640 + 1,560 + 936) + 12,400 + (220 * 17) + (220 * 17 * 60%)
= $23,520
g.
DR Cost of Goods sold $23,520
CR Finished Goods $23,520
DR Accounts Receivable $32,928
CR Cost of Goods sold $32,928
Working
= 23,520 * 140%
= $32,928
