Answer and Explanation:
The journal entries are shown below:
a. Materials $225,750
To Accounts Payable $225,750
(Being material purchased on account)
b. Work in Process $200,000
Factory Overhead $17,600
To Materials $217,600
(Being material requisitioned is recorded)
c.
Work in Process $607,700
Factory Overhead $72,300
To Wages Payable $680,000
(Being wages payable is recorded)
d.
Factory Overhead $330,000
Selling Expenses $180,000
Administrative Expenses $126,000
To Accounts Payable $636,000
(being an expense is recorded)
e.
Factory Overhead $27,500
Selling Expenses $8,100
Administrative Expenses $5,250
To Prepaid Expenses $40,850
(being an expense is recorded)
f.
Depreciation Expense-Office Building $44,500
Depreciation Expense-Office Equipment $16,800
Factory Overhead $55,100
To Accumulated Depreciation-Buildings and Equipment$116,400
(Being an expense is recorded)
g.
Work in Process
$548,000
To Factory Overhead $548,000
(being work in process is recorded)
h.
Finished Goods $1,140,000
To Work in Process $1,140,000
(being finished goods is recorded)
i.
Cost of Goods Sold $1,128,000
To Finished Goods
$1,128,000
(being cost of goods sold is recorded)
