16. Work in Process inventory, Feb. 281. 20 Summarized data for jobs worked on during20. Cost of Goods Sold for FebruaryO a. P1.500О а. Рб,500COSTS INCURREDO b. P19,900O b. P7,500JOBSJanuaryFebruaryMarchO. P7,500O. P20,000AP5,000O d. P15,300O d. P7.000В3,0002,50017. Finished Goods inventory, Feb. 28D1,5004,0003,500O a. P7,500F5,8006,500о b. Р3,000G9,6003,800O. P7,0004,5004,200O d. P5,5003,0007,00018. Finished Goods inventory, March 31O a. P7,000Jobs Completed Jobs SoldJanuaryА ВA, CO b. P7,500FebruaryDEBО с. Р5,500MarchGH JGHO d. P3,000Work in Process inventory, Jan. 3119. Cost of Goods Sold for JanuaryO a. P15,300O a. P7.000O b. P7,500O b. P7,500O. P1,500O. P20,000O d. P19,900O d. P10,500

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Description: 16. Work in Process inventory, Feb. 281. 20 Summarized data for jobs worked on during20. Cost of Goods Sold for FebruaryO a. P1.500О а. Рб,500COSTS INCURREDO b. P19,900O b. P7,500JOBSJanuaryFebruaryMarchO. P7,500O. P20,000AP5,000O d. P15,300O d. P7.

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O a. P1,500 COSTS INCURRED O b. P19,900 JOBS January February March O . P7,500 A P5,000 O d. P15,300 3,000 2,500 17. Finished Goods inventory, Feb. 28 D 1,500 4,000 E 3,500 O a. P7,500 F 5,800 6,500 O b. P3,000 9,600 3,800 O. P7,000 4,500 4,200 O d. P5,500 3,000 7,000 18. Finished Goods inventory, March 31 Jobs Completed Jobs Sold О а. Р7,000 AB C A, C O b. P7,500 January February DE BE O. P5,500 March GH J G H O d. P3,000 Work in Process inventory, Jan. 31 19. Cost of Goods Sold for January О а. Р15,300 О а. Р7,000 O b. P7,500 O b. P7,500 О с. Р1,500 O . P20,000 O d. P19,900 O d. P10,500

O a. P1,500 COSTS INCURRED O b. P19,900 JOBS January February March O . P7,500 A P5,000 O d. P15,300 3,000 2,500 17. Finished Goods inventory, Feb. 28 D 1,500 4,000 E 3,500 O a. P7,500 F 5,800 6,500 O b. P3,000 9,600 3,800 O. P7,000 4,500 4,200 O d. P5,500 3,000 7,000 18. Finished Goods inventory, March 31 Jobs Completed Jobs Sold О а. Р7,000 AB C A, C O b. P7,500 January February DE BE O. P5,500 March GH J G H O d. P3,000 Work in Process inventory, Jan. 31 19. Cost of Goods Sold for January О а. Р15,300 О а. Р7,000 O b. P7,500 O b. P7,500 О с. Р1,500 O . P20,000 O d. P19,900 O d. P10,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following events occurred during March for Ajax Company. A. Materials were purchased on account for $35,427. B. Materials were requisitioned to begin work on Job C15 in the amount of $25,260. C. Direct labor expense for Job C15 was $24,127. D. Actual overhead was incurred on account of $32,851. E. Factory overhead was charged to Job C15 at the rate of 200% of direct labor. F. Job C15 was transferred to finished goods at $97,641. G. Job C15 was sold on account for $399,000. Prepare a journal entry for each transaction. If an amount box does not require an entry, leave it blank. A. Raw Materials Inventory 35,427 Accounts Payable 35,427 В. Work in Process Inventory 25,260 Raw Materials Inventory 25,260 C. Work in Process Inventory С. 24,127 Raw Materials Inventory Work in Process Inventory D. 32,851 Manufacturing Overhead 32,851 E. Previo Email Instructor Su All work saved.
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