Crawford Corporation incurred the following transactions.
1. Purchased raw materials on account $47,000.
2. Raw Materials of $44,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,300 was classified as indirect materials.
3. Factory labor costs incurred were $60,100, of which $51,000 pertained to factory wages payable and $9,100 pertained to employer payroll taxes payable.
4. Time tickets indicated that $54,400 was direct labor and $5,700 was indirect labor.
5. Manufacturing overhead costs incurred on account were $83,600.
6. Depreciation on the company’s office building was $8,600.
7. Manufacturing overhead was applied at the rate of 160% of direct labor cost.
8. Goods costing $94,800 were completed and transferred to finished goods.
9. Finished goods costing $81,800 to manufacture were sold on account for $110,300.
Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
No. Account Titles and Explanation Debit Credit
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(To record the sale)
(To record the cost of the sale)
Accounts Payable
Accounts Receivable
Accumulated Depreciation-Buildings
Accumulated Depreciation Equipment
Cash
Cost of Completed Service Contracts
Cost of Goods Sold
Depreciation Expense
Employer Fringe Benefits Payable
Employer Payroll Taxes Payable
Factory Labor
Factory Wages Payable
Finished Goods Inventory
Manufacturing Overhead
Operating Overhead
Prepaid Property Taxes
Raw Materials Inventory
Salaries and Wages Payable
Sales Revenue
Service Contracts in Process
Service Salaries and Wages
Supplies
Utilities Payable
Work in Process Inventory