Question

INSTRUCTIONS: Indicate the titles of the accounts to be debited and credited in recording the selected operations given below by inserting the letter or letters of the account titles listed in the appropriate columns. (Do not record the amounts.)

ACCOUNTS

A. Accounts Payable                                        E. Factory Overhead–Department A              I. Sales

B. Accounts Receivable                                   F. Factory Overhead–Department B             J. Wages Payable

C. Cash                                                         G. Finished Goods                                                    K. WIP-Dept A

D. Cost of Goods Sold                                     H. Materials                                                        L. WIP-Dept B

For

Scoring

For

Scoring

TRANSACTIONS

Debit

Credit

         0.    Materials requisitioned for use in Department A, $40,000, of which $20,000 entered directly into the product…………………………………………….

 

 

For

Scoring

 

For

Scoring

TRANSACTIONS

Debit

Credit

         0.    Materials requisitioned for use in Department A, $40,000, of which $20,000 entered directly into the product…………………………………………….

E, K

0. ____

H

0. ____

     1–2.    Paid cash for wages owed, $47,000……………………………………………………

 

1. ____

 

2. ____

     3–4.    Purchased materials on account, $50,000 …………………………………………

 

3. ____

 

4. ____

     5–6.    Labor in Department A, $17,500, was used directly in the manufacture of the product …………………………………………………………………

 

 

5. ____

 

 

6. ____

     7–8.    Factory overhead applied to production in Department A, $10 per machine hour ………………………………………………………………………………………

 

 

7. ____

 

 

8. ____

9–10.    Factory overhead applied to production in Department B, $8.50 per machine hour ………………………………………………………………………………………

 

 

9. ____

 

 

10. ____

11–12.    Goods finished in Department A and transferred to Department B, $79,000

 

 

11. ____

 

 

12. ____

13–14.    Goods finished in Department B and transferred to finished goods, $114,000 ……………………………………………………………………………………………..

 

 

13. ____

 

 

14. ____

15–16.    Cost of finished goods sold, $175,369 ……………………………………………….

 

15. ____

 

16. ____

 



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