ID: A s. Smith and Hodges produce notions for the clothing industry. It uses fou
ID: 2541256 • Letter: I
Question
ID: A s. Smith and Hodges produce notions for the clothing industry. It uses four t lines s for its four Just-in-time operations and costing methods have recently been adopted. inventories work cells There were no beginning on February 1, Operating costs for February for work cell #2 are as follows. t materials purchased on account and used s 26,81 arts purchased on account and used Direct labor costs incurred verhead costs applied 19,32 17 59,4 119,63 117,78 t of goods completed during February ost of goods sold Using backflush costing, prepare the journal entries needed for the above data. General Journal Post. Ref Date Description Debit CreditExplanation / Answer
PARTICULARS DEBIT CREDIT
PURCHASES ACCOUNT 26815
TO SUPPLIER ACCOUNT 26815
Repair and maintenance (parts) 19320
To supplier account 19320
Wages ( Direct labour) 17000
TO cash account 17000
No entry required for cost of goods sold , overhead appropriated etc .
Seperate cost sheet preparation time these have to be considered.