cost accounting 301

1. When raw materials are received, Give an example

1. When raw materials are sent to the factory floor, Give an example

1. When a job is completed, what happen to the cost, Give an example

1. Overhead expenses ( salary) paid by cheque $ 5000

1. Utilities (Indirect expenses) paid in cash $ 10000

f) Salaries totaling $5,000 are accrued; 35% of these costs are direct labor, 40% are indirect labor and 25% are overhead expense. Prepare the journal entry.

g) Overhead costs are allocated to work in process using an allocation rate of 150% of direct labor costs and 300% of overhead expenses.

Prepare the journal entry. (Give different examples- examples should not be same)