19-10 connect

The following information is available for Lock-Safe Company, which produces special-order security products and uses a job order cost accounting system.

April 30 May 31 Inventories Raw materials $ 43,000 $ 52,000 Goods in process 10,200 21,300 Finished goods 63,000 35,600 Activities and information for May Raw materials purchases (paid with cash) 210,000 Factory payroll (paid with cash) 345,000 Factory overhead Indirect materials 15,000 Indirect labor 80,000 Other overhead costs 120,000 Sales (received in cash) 1,400,000 Predetermined overhead rate based on direct labor cost 70%

1. Factory overhead excluding indirect materials and indirect labor (record credit to Other Accounts). 2. Application of overhead to goods in process.

Prepare journal entries for the above events for the month of May.

view transaction list view general journal

Journal Entry Worksheet 1 2

*Enter debits before credits

Record other Factory overhead costs (excluding indirect materials and indirect labor). Record credit to Other Accounts.

Event General Journal Debit Credit 1

Hint #1

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Ch 19 Presentations & Homework http://ezto.mheducation.com/hm.tpx

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Ch 19 Presentations & Homework http://ezto.mheducation.com/hm.tpx

2 of 2 01-04-2016 01:52