I have done the journal entries thru letter F. First of all, do they look correc

Question

I have done the journal entries thru letter F. First of all, do they look correct? Secondly, how would I journalize G & H? TIA

STUDENT NAM ACC1820-PRINCIPLES OF MANAGERIAL ACCOUNTING PW-03: Problem Chapter 3: Job-Order Costing-Cost Flows and External Reporting Prepare general journal entries for the following manufacturing transactions Complete neatly in pencil, NO PENSI $94,000 in raw materials were purchased for cash. $89,000 in raw materials were used in production. of this amount, $78,000 was for direct materials and the remainder indirect. Total labor wages of $231,000 were incurred and paid. Ot this amount $112,000 was for direct labor and the remainder indirect. Additional manufacturing overhead costs of $143,000 were incurred and paid Manufacturing overhead of $152,000 was applied to production using the company's predetermined overhead rate a f All of the jobs in process at the end of the month were completed. All of the completed jobs were shipped to customers h Any underapplied or overapplied overhead for the period was closed to Cost of Good Sold. OURNAL Pg. 1 Post Ref Accounts Names Date (No Explanations Necessary Debit Credit

Explanation / Answer

a Raw materials inventory 94000        Cash 94000 b Work in Process 78000 Manufacturing overhead 11000     Raw materials inventory 89000 c Work in Process inventory 112000 Manufacturing overhead 119000        Cash 231000 d Manufacturing overhead 143000        Cash 143000 e Work in Process inventory 152000      Manufacturing overhead 152000 f Finished goods inventory 342000 =78000+112000+152000       Work in Process inventory 342000 g Cost of goods sold 342000     Finished goods inventory 342000 h Cost of goods sold 121000 =(11000+119000+143000)-152000      Manufacturing overhead 121000

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