Journal inventory accounting assignment help
The following information relates to the manufacturing operations of Oâ€
Shaughnessy Mfg. Co.
during the month of March. The company uses job order costing.
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Order Paper Nowa. Purchases of direct materials during the month amount to $59,700. (All purchases were made
on account.)
b. Materials requisitions issued by the Production Department during the month total $56,200.
c. Time cards of direct workers show 2,000 hours worked on various jobs during the month, for
a total direct labor cost of $30,000.
d. Direct workers were paid $26,300 in March.
e. Actual overhead costs for the month amount to $34,900 (for simplicity, you may credit
Accounts Payable).
f. Overhead is applied to jobs at a rate of $18 per direct labor hour.
g. Jobs with total accumulated costs of $116,000 were completed during the month.
h. During March, units costing $128,000 were sold for $210,000. (All sales were made on
account.)
Instructions
Prepare general journal entries to summarize each of these transactions in the companyâ€s general
ledger accounts.
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