DiSalvio Co. uses a job order cost system. The following data summarize the oper
ID: 2464233 • Letter: D
Question
DiSalvio Co. uses a job order cost system. The following data summarize the operations related to production for May:
Journalize the entries to record the summarized operations. Refer to the Chart of Accounts for exact wording of account titles.
Journalize the entries to record the summarized operations. Refer to the Chart of Accounts for exact wording of account titles.
All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback.
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JOURNAL
Score: 289/322
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May 1 Materials purchased on account, $634,000. 2 Materials requisitioned, $646,200, of which $74,500 was for general factory use. 31 Factory labor used, $660,200, of which $91,200 was indirect. 31 Other costs incurred on account for factory overhead, $147,500; selling expenses, $234,000; and administrative expenses, $146,400. 31 Prepaid expenses expired for factory overhead were $29,200; for selling expenses, $26,800; and for administrative expenses, $18,000. 31 Depreciation of office building was $84,600; of office equipment, $43,340; and of factory equipment, $32,000. 31 Factory overhead costs applied to jobs, $362,000. 31 Jobs completed, $1,002,000. 31 Cost of goods sold, $890,000.Explanation / Answer
Date
Description
POST.REF
Debit
Credit
1
May 1
Material inventory
$634,000
Accounts payable
$634,000
2
May 2
Work in Process
$571,700
Factory Overhead
$74,500
Materials
$646,200
3
May 31
Work in Process
$569,000
Factory Overhead
$91,200
Wages Payable
$660,200
4
May 31
Factory Overhead
$147,500
Selling Expenses
$234,000
Administrative Expenses
$146,400
Accounts Payable
$527,900
5
May 31
Factory Overhead
$29,200
Selling Expenses
$26,800
Administrative Expenses
$18,000
Prepaid Expenses
$74,000
6
May 31
Depreciation Expense-Office Building
$84,600
Depreciation Expense-Office Equipment
$43,340
Factory Overhead
$32,000
Accumulated Depreciation-Fixed Assets
$159,940
7
May 31
Work in Process
$362,000
Factory Overhead
$362,000
8
May 31
Finished Goods
$1,002,000
Work in Process
$1,002,000
9
May 31
Costs of Goods Sold
$890,000
Finished Goods
$890,000
Date
Description
POST.REF
Debit
Credit
1
May 1
Material inventory
$634,000
Accounts payable
$634,000
2
May 2
Work in Process
$571,700
Factory Overhead
$74,500
Materials
$646,200
3
May 31
Work in Process
$569,000
Factory Overhead
$91,200
Wages Payable
$660,200
4
May 31
Factory Overhead
$147,500
Selling Expenses
$234,000
Administrative Expenses
$146,400
Accounts Payable
$527,900
5
May 31
Factory Overhead
$29,200
Selling Expenses
$26,800
Administrative Expenses
$18,000
Prepaid Expenses
$74,000
6
May 31
Depreciation Expense-Office Building
$84,600
Depreciation Expense-Office Equipment
$43,340
Factory Overhead
$32,000
Accumulated Depreciation-Fixed Assets
$159,940
7
May 31
Work in Process
$362,000
Factory Overhead
$362,000
8
May 31
Finished Goods
$1,002,000
Work in Process
$1,002,000
9
May 31
Costs of Goods Sold
$890,000
Finished Goods
$890,000