managerial Accounting xercise 34 Your answer is partialy cor

managerial Accounting

xercise 3-4 Your answer is partialy correct, Try again chrager Company has two production dopartments: Cutting and Assembly. July 1 invenitories are Rirn Materiak $4,30n, Work in Process-Cumig $3.430, Work in Prooms-Posly $10,200, ane t 000 $32.3 lowing trnactios occurred t Purchased $63,800 of raw materlabs on account Incurred $60,800 of factory labor. (Credit woes Pweab.) Incurred $72,400 of manufacturing owerhend; $41,600 as paid and the remaider t up Requisitioned materials for Cutting $17,900 and Ably9,200 Used factory labor for Ctting $33,600 and Assombly $27,200 Appled (vorhead at the rate of S19 p\" maline hour Machine hours wore Cumng S,799 and Asserrty t Tramferred goods costing 560,260 from the Cutting Department to the Aesriby Depertment Transferred goods costing $136,900 from Assembly to Finhhed Good Sold goods costing $152,400 for $2n2,fi00 on account urnalize the transxctions. (Credfit account titles are atomatically indested wnos amoumt is enterod. Do not incone mooualy Credit No. Account Titles and Ixplanation oe Type here to search

Solution

No Account title Dr Cr 1 Raw Material Inventory $63,800 Accounts payable $63,800 2 Factory labor $60,800 Wages payable $60,800 3 Manufacturing overhead $72,400 Cash $41,600 Accounts Payable $30,800 4 Work In Process-Cutting Department $17,500 Work In Process-Assembly Department 9200 Raw Material Inventory $26,700 5 Work In Process-Cutting Department $33,600 Work In Process-Assembly Department 27200 Factory labor $60,800 6 Work In Process-Cutting Department (19*1730) $32,870 Work In Process-Assembly Department (19*1750) $33,250 Manufacturing overhead $66,120 7 Work In Process-Assembly Department $60,260 Work In Process-Cutting Department $60,260 8 Finished Goods Inventory $136,900 Work In Process-Assembly Department $136,900 9 Accounts Receivable $202,600 Sales $202,600 Cost of good sold $152,400 Finished Goods Inventory $152,400 The image is bit blurred. So not able to view properly the hours worked in entry no 6, in case hours are different. please comment I will make the required changes