Do It Review 152 Milner Company is working on two job orders

Do It! Review 15-2 Milner Company is working on two job orders. The job cost sheets show the following Direct materials Direct labor Manufacturing overhead Job 201 Job 202 $7,500 $8,950 7,900 5,500 10,100 3,950 Prepare the three summary entries to record the assignment of costs to Work in Process from the data on indent manually.) the job cost sheets. (Credit account titles are No. Account Titles and Explanation Debit Credit (To assign materials to jobs) (To assign labor to jobs) (To assign overhead to jobs) Click if you would like to Show Work for this question: Open Show Work

Solution

No. Accounts title Dr. Cr. a work in process inventory 16450 To raw material inventory [7500 + 8950] (Job201+ job202) 16450 b work in process inventory 11850 To factory labor [3950 + 7900] (Job201+ job202) 11850 c work in process inventory 15600 To manufacturing overhead [5500+10100](Job201+ job202)    15600