Josie Inc.has provided the following information for the year ended 20x8:
a.Purchased raw materials on account for $120,000.
b.Issued $115,000 in raw materials to production ($22,000 were not traceable to specific jobs).
c.Incurred $115,000 in direct labor costs (14,375 hours)and $62,500 in supervision costs (paid in cash).
d.Incurred the following additional manufacturing overhead costs: factory lease $24,000 (paid in cash);depreciation on equipment $20,000;custodial supplies $7,500 (paid in cash).
e.Incurred the following nonmanufacturing costs,both paid in cash: advertising $75,000;sales commissions $88,000.
f.Applied manufacturing overhead to jobs in process at a rate of $10 per direct labor hour.
g.Completed jobs costing a total of $345,000.
h.Sold jobs for $425,000 on account.The cost of the jobs was $342,000.
i.Closed the Manufacturing Overhead account balance.
Prepare the journal entries to record these transactions.

Question

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The Answer of Josie Inc.has provided the following information for the year ended 20x8:
a.Purchased raw materials on account for $120,000.
b.Issued $115,000 in raw materials to production ($22,000 were not traceable to specific jobs).
c.Incurred $115,000 in direct labor costs (14,375 hours)and $62,500 in supervision costs (paid in cash).
d.Incurred the following additional manufacturing overhead costs: factory lease $24,000 (paid in cash);depreciation on equipment $20,000;custodial supplies $7,500 (paid in cash).
e.Incurred the following nonmanufacturing costs,both paid in cash: advertising $75,000;sales commissions $88,000.
f.Applied manufacturing overhead to jobs in process at a rate of $10 per direct labor hour.
g.Completed jobs costing a total of $345,000.
h.Sold jobs for $425,000 on account.The cost of the jobs was $342,000.
i.Closed the Manufacturing Overhead account balance.
Prepare the journal entries to record these transactions.

Josie IncHas Provided the Following Information for the Year Ended 20x8