MBA 500-Assignment 1 (Due Week 6-09/20/21) (5 points) ABC Company

 MBA 500-Assignment 1 (Due Week 6-09/20/21)
(5 points)
ABC Company is a manufacturer that uses a job order cost system.
The following data summarize the operations related to production for January, the first
month of operations:
a. Purchased 400 units of materials at $14 per unit on account.
b. Requisitioned materials for production as follow:
200 units for Job 101 at $12 per unit.
300 units for Job 102 at $14 per unit.
c. Accumulated direct labor cost as follows:
700 hours of direct labor on Job 101 at $16 per hour.
600 hours of direct labor on Job 102 at $12 per hour.
d. Incurred factory overhead costs as follows: indirect materials, $800; indirect
labor, $3,400; utilities cost, $1,600; and factory depreciation, $2,500.
e.Journalize the entries to record these transactions. (Fill in the blank below.)
***Show your calculation on the next page.
Journal Entry
Date Accounts Debit Credit
a. Materials
Accounts payable
b. Work in process
Materials
c. Work in process
Wages payable
d. Factory overhead
Materials
Wages payable
Utilities payable
Accumulated depreciation-factory 

 

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