Question

please create a general journal for the following transactions

Please use the following accounts: Accounts Receivables, Raw materials, Work in process, Finished goods, Accumulated depreciation, Accounts payable, Salaries and wages payable, Sales revenue, Manufacturing overhead, Cost of goods sold, Salaries and wages expense, Advertising expenses, and Depreciation expense.

The cost of the direct materials that can be used to manufacture the table are as follows. These cost are on a per unit basis. 
 Table Top $1,000.00   
Table Leg  $ 150.00   
Drawer   $ 300.00  

The company uses a job order costing system and applies manufacturing overhead to jobs based on direct labor hours.  
  The company estimates that there will be 12 direct labor hours worked during the month.       
The estimated manufacturing overhead cost for the month is:   

a.Factory supervisor salary per month $ 2,500.00  

b.Rent for the factory per month     $500.00

  c.Depreciation of factory equipment per month     $600.00   

Total Estimated manufacturing overhead $ 3,600.00

The first order you received was to manufacture a table using a table top and four legs. This is your Job #1. 

The customer that has ordered Job #2, wants a table that is the same as Job #1, but wants to also add a drawer to the table. 

1-Dec
Raw Materials purchased on account, $10,000.

5-Dec
All Raw Materials needed for Job #1 were requisitioned from the material storage for use during the month. Assume all materials are direct.

10-Dec
The following employee costs were incurred but not paid during the month: There are three assembly employees that spend 2 hours each, $20 per hour to make the table for Job #1. Salary for supervisor of the factory $3,000. Salary for supervisor of the factory $3,000.Administrative Salary $2,000.

15-Dec
All Raw Materials needed for Job #2 were requisitioned from the material storage for use during the month. Assume all materials are direct.

16-Dec
Rent for the month of December for the factory building incurred but not paid $500.

17-Dec
Advertising costs incurred but not paid for the month was $1,200.

20-Dec
Depreciation for the month of December was recorded on equipment was $750 ($150 for equipment used in the factory and the remainder for equipment used in selling and administrative activities).

22-Dec
Manufacturing overhead cost was applied based on direct labor hours to Job #1 based on the POHR determined on the "Job Cost Sheet". 

26-Dec
Job #1 was completed and transferred to Finished Goods during the month.

28-Dec
The completed table from Job #1 was sold on account to the customer for $15,000 during the month.  (Hint:  Make sure to account for the cost of the table that was sold using the cost from the job cost sheet.)

31-Dec
Direct labor cost incurred but not paid for three employees to start manufacturing Job #2.  The employees only worked one hour each, three hours total, $20 per hour during the month and they did not complete their work on the job.

31-Dec
Manufacturing overhead cost was applied based on direct labor hours to Job #2 based on the POHR.  Only three direct labor hours were worked on Job #2 during the month.

Answer 1

Formula sheet

A1	B	C	D	E	F
2
3	43435
4	Journal entry for purchase of raw materials
5	Account	Debit	Credit
6	Raw Materials Inventory	10000
7	Account Payable		=C6
8
9	43439
10	Journal entry for raw material expense for job 1:
11	Account and Explanation	Debit	Credit
12	Work in Progress Inventory-Job1	=D13
13	Raw Materials Inventory ($1,000+$150)		=1000+150
14
15	43444
16	Journal entry for Labor costs:
17	Account and Explanation	Debit	Credit
18	Work in Progress Inventory (3*2*20)-job1	=3*2*20
19	Manufacturing overhead (3000+2000)	=3000+2000
20	Wage Payable		=C18+C19
21
22	43449
23	Journal entry for raw material expense for job 2:
24	Account and Explanation	Debit	Credit
25	Work in Progress Inventory-Job2	=D26
26	Raw Materials Inventory ($1,000+$150+$300)		=1000+150+300
27
28	43450
29	Account and Explanation	Debit	Credit
30	Manufacturing Overhead	500
31	Rent Expense		=C30
32
33	43451
34	Account and Explanation	Debit	Credit
35	Advertising Expense	1200
36	Accounts Payable		=C35
37
38	43454
39	Account and Explanation	Debit	Credit
40	Manufacturing Overhead	150
41	Depreciation Expense	=D42-C40
42	Accumulated depreciation		750
43
44	43456
45
46	Estimated total manufacturing labor hours	12
47	Total Estimated manufacturing overhead	3600
48
49	Manufacturing overhead rate per hour	=C47/C46	=C47/C46
50
51	Account and Explanation	Debit	Credit
52	Work in Progress - Job1 (3*2*$300)	=3*2*C49
53	Manufacturing Overhead		=C52
54
55	43460
56	Account and Explanation	Debit	Credit
57	Finished Goods Inventory-Job1	=D58
58	Work in Progress Inventory		=C12+C18+C52
59
60	43462
61	Journal Entry for Sale
62	Account and Explanation	Debit	Credit
63	Account Receivables	=D64
64	Sales Revenue		15000
65
66	Journal entry for cost of goods sold
67	Account and Explanation	Debit	Credit
68	Cost of goods sold	=C57
69	Finished Goods Inventory-Job1		=C68
70
71	43465
72	Journal entry for Labor costs:
73	Account and Explanation	Debit	Credit
74	Work in Progress Inventory (3*1*20)-job2	=3*1*20
75	Wage Payable		=C74
76
77	43456
78
79	Estimated total manufacturing labor hours	12
80	Total Estimated manufacturing overhead	3600
81
82	Manufacturing overhead rate per hour	=C80/C79	=C80/C79
83
84	Account and Explanation	Debit	Credit
85	Work in Progress - Job2 (3*1*$300)	=3*1*C82
86	Manufacturing Overhead		=C85
87