indicate the TITLE of the debit and the TITLE of the credit Finished up goods 24A)...

indicate the TITLE of the debit and the TITLE of the credit

Finished up goods

24A) Dr.

24B) Cr.

Applied FOH

25A) Dr.

25B) Cr.

Sold goods for cash ( the entry for the selling price)

26A) Dr.

26B) Cr.

Sold goods on account ( the entry for the cost)

27A) Dr.

27B) Cr.

Used indirect labor on account

28A) Dr.

28B) Cr.

Used indirect materials

29A) Dr.

29B) Cr.

Used up factory insurance.

30A) dr

30B) Cr

Expert Solution

Finished Up Goods:		Supporting explanations
Finished Goods Inventory	Dr.	When goods are completed, the cost of goods completed is transferred from work in process inventory to finished goods inventory.
Work-in Process Inventory	Cr.

Applied FOH		Supporting explanations
Work-in Process Inventory	Dr.	When overheads are applied, the costs are charged to the production so work in process increases and factory overhead account balance decreases.
Factory Overheads (FO)	Cr.

Sold goods for cash		Supporting explanations
Cash	Dr.	When goods are sold for cash, the cash increases and sale revenue account also increases.
Sales Revenue	Cr.

Sold goods on account		Supporting explanations
Accounts Receivable	Dr.	When goods are sold on account, the accounts receivable balance increases and the sales revenue also increases.
Sales Revenue	Cr.

Used Indirect labor on account		Supporting explanations
Work-in Process Inventory	Dr.	When costs of indirect labor was used, they are assigning to the production so work in process account increases and indirect labor decreases.
Indirect Labor	Cr.

Used indirect materials		Supporting explanations
Work-in Process Inventory	Dr.	When costs of indirect materials were used, they are assigning to the production so work in process account increases and indirect materials decreases.
Indirect Materials	Cr.

Used up factory insurance		Supporting explanations
Factory Overheads	Dr.	When factory insurance is used, the factory overheads increases and the factory insurance account decreases.
Factory Insurance	Cr.

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indicate the TITLE of the debit and the TITLE of the credit Finished up goods 24A)...

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