Prepare the journal entries for the following:
Save your time - order a paper!
Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlinesOrder Paper Now
- When raw materials are received, Give an example
- When raw materials are sent to the factory floor, Give an example
- When a job is completed, what happen to the cost, Give an example
- Overhead expenses ( salary)paid by cheque $ 5000
- Utilities (Indirect expenses) paid in cash $ 10000
f)Salaries totaling $5,000 are accrued; 35% of these costs are direct labor,40% are indirect labor and 25% are overhead expense. Prepare the journal entry.
g)Overhead costs are allocated to work in process using an allocation rate of 150% of direct labor costs and 300% of overhead expenses.
Prepare the journal entry. (Give different examples- examples should not be same)