P27-1A
NoCal
TUTORIAL PREVIEW
File name: P27-1A NoCal.xls File type: xls PRICE: $12
P27-1A NoCal TRAILERS COMPANY
Cost Data
March, 2013
a.
Raw materials purchased $82,000
b.
Raw materials used:
Direct materials $75,000
Indirect materials $5,000
c.
Factor wages incurred:
Direct labor $50,000
Indirect labor $2,000
Social Security tax deductions $3,224
Medicare tax deductions $754
Federal income tax deductions $7,800
d.
Other overhead costs 28,000
e.
Percent of direct labor costs used to estimate manufacturing
overhead costs to be applied to jobs in
production 80%
f.
Finished goods transferred from production warehouse $150,000
g.
Cost of goods sold $120,000
h.
Sales for the month $250,000
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NoCal TRAILERS CO.
GENERAL JOURNAL
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Description
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Post Ref
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Debit
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Credit
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30
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Raw
Materials Inventory
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82,000
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Accounts Payable
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82,000
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Cost of Materials Purchased during
the month
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30
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Work
in Process Inventory
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75,000
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Manufacturing
overhead
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5,000
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Raw materials inventory
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80,000
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Cost of direct and indirect
materials issued in April
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