Answer:
Raw Materials 176,000 debit
Account Payable 176,000 credit
Factory Overehad 2,700 debit
WIP 153,700 debit
Raw Materials 156,400 credit
Factory Overehad 12,000 debit
WIP 141,300 debit
Wages Payable 153,300 credit
Factory Overhead 37,000 debit
acc dep- equipment 37,000 credit
Factory Overhead 6,100 debit
prepaid 6,100 credit
Factory Overhead 76,000 debit
account payable 76,000 credit
WIP 105,300 debit
Factory Overhead 105,300 credit
Finished Goods 415,300 debit
WIP 415,300 credit
Account receivables 638,000 debit
Sales Revenue 638,000 credit
COGS 412,000 debit
Finished Goods 412,000 credit
Explanation:
Much of these are self-explanatory
<u>Notes:</u>
<u>The direct materials and labor applied to produciton orders go into WIP</u>
he applied overhead goes into WIP too.
Then, for <u>other manufacturing cost we post into the debit side of manufacturing overhead.</u> This way; we can later define the subapplication or overapplication of manufacturing overhead.
The finished goods are debited and WIP credited to represent the transfer to finished goods.
The finished good which are sold will be recognize as COGS
