Prepare the necessary journal entries from the following information for Alltizer Company,which uses a perpetual inventory system.
a. Purchased raw material on acc ount $ \$ 56,700 . $
b. Requisitioned raw material for prochuction as follows: direct material-80 percent of purchases; indirect material-15 percent of purchases.
c. Direct labor wages of $ \$ 33,100 $ are accrued as are indirect labor wages of $ \$ 12,500 $.
d. Overhe ad incurred and paid for is $ \$ 66,900 $.
e. Overhead is applied to production based on 110 percent of direct labor cost.
f. Goods costing $ \$ 97,600 $ were completed during the period.
g. Goods costing $ \$ 51,320 $ were sold on account for $ \$ 77,600 $.

Question

Prepare the necessary journal entries from the following information for Alltizer Company,which uses a perpetual inventory system.
 a. Purchased raw material on acc ount $ \$ 56,700 . $
b. Requisitioned raw material for prochuction as follows: direct material-80 percent of purchases; indirect material-15 percent of purchases.
c. Direct labor wages of $ \$ 33,100 $ are accrued as are indirect labor wages of $ \$ 12,500 $.
d. Overhe ad incurred and paid for is $ \$ 66,900 $.
e. Overhead is applied to production based on 110 percent of direct labor cost.
f. Goods costing $ \$ 97,600 $ were completed during the period.
g. Goods costing $ \$ 51,320 $ were sold on account for $ \$ 77,600 $.

Quizplus · Accepted Answer

The Answer of Prepare the necessary journal entries from the following information for Alltizer Company,which uses a perpetual inventory system.
 a. Purchased raw material on acc ount $ \$ 56,700 . $
b. Requisitioned raw material for prochuction as follows: direct material-80 percent of purchases; indirect material-15 percent of purchases.
c. Direct labor wages of $ \$ 33,100 $ are accrued as are indirect labor wages of $ \$ 12,500 $.
d. Overhe ad incurred and paid for is $ \$ 66,900 $.
e. Overhead is applied to production based on 110 percent of direct labor cost.
f. Goods costing $ \$ 97,600 $ were completed during the period.
g. Goods costing $ \$ 51,320 $ were sold on account for $ \$ 77,600 $.

Prepare the Necessary Journal Entries from the Following Information for Alltizer