Enos Printing Corp uses a job order cost system The followin

Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter\'s production 1. Materials purchased on account $196,900, and factory wages incurred $90,900 2. Materials requisitioned and factory labor used by job: ob Number A20 A21 A22 A23 General factory use Materials Factory Labor $36,240 45,920 36,500 42,170 5,170 $166,000 $19,300 22,700 16,100 25,400 7,400 $90,900 3. Manufacturing overhead costs incurred on account $49,800 4. Depreciation on factory equipment $17,050 5. Depreciation on the company\'s office building was $14,500 6, Manufacturing overhead rate is 86% of direct labor cost. 7. Jobs completed during the quarter: A20, A21, and A23 Prepare entries to record the operations summarized above. (Credit account titles are automatically indented when amount is entered. Do not indent manually.

Solution

Job cost sheet A20 A21 A22 A23 Material 36,240 45,920.00 36,500 42,170 labour 19,300 22700 16,100 25400 OH cost 16598 19522 13846 21844 Total cost of Jobs 72,138 88,142 66,446 89,414 Journal entries S.no. Accounts title and explanations Debit $ Credit$ a. Raw material Inventory Account Dr. 196900    Accounts payable 196900 factory wages Account Dr. 90900      Wages payable 90900 b. Work in process inventory Account Dr. 244330     Raw material inventory Account 160830     Factory wages account 83500 Manufacturing Overheads account Dr. 12570     Raw material inventory Account 5170     Factory wages account 7400 c. manufacturing Overheads account Dr. 49800     Accounts payable 49800 d. manufacturing overheads account Dr. 17050 Accumulated dep-Factory equipment 17050 e. Administrative expense Account Dr. 14500     Accumulated dep-Office building 14500 f. Work in process inventory Account Dr. 71810      Manufacturing Overheads 71810 h. Finished Ggoods inventory Account Dr. 249694     Wwork in process inventory (72138+88142+89414) 249694