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Hildreth Company uses a job order cost system. The following data summarize the operations related to...

Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations. Make the appropriate journal entry(s) for each number 1-7.

  1. Materials purchased on account, $147,000.

  2. Materials requisitioned and factory labor used:

Job No. Materials

101: $19,320/ 102: 23,100/ 103: 13,440/ 104: 38,200/ 105: 18,050/ 106: 18,000 For general factory use 9,000

Factory Labor

$19,500/ 28,140/ 14,000/ 36,500/ 15,540/ 18,700/ 20,160

  1. Factory overhead costs incurred on account, $6,000.

  2. Depreciation of machinery and equipment, $4,100.

Solutions

Expert Solution

Journal Entries

Sl No Particulars Debit Credit
a Materials A/c Dr        1,47,000
To Accounts Payable A/c        1,47,000
b Work in Process A/c Dr        2,62,490
Factory Overhead A/c Dr            29,160
To Materials A/c        1,39,110
To Wages Payable A/c        1,52,540
c Factory Overhead A/c Dr              6,000
To Accounts Payable A/c              6,000
d Factory Overhead A/c Dr              4,100
To Accumulated Dep A/c              4,100
e Work in Process A/c Dr            40,480
To Factory Overhead A/c            40,480
f Finished Goods A/c Dr        1,75,090
To Work In Process A/c        1,75,090
g Accounts Receivable A/c Dr        1,89,100
To Sales A/c        1,89,100
Cost of goods sold A/c Dr        1,42,610
To Finished Goods A/c        1,42,610

ekkarill92 answered 2 years ago
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