1. Prepare journal entries to record the August transactions.Part ACrusaders Furniture Ltd uses a job order costing system. The August cost data were as follows:Raw Materials purchased on credit $411,840Direct Labour costs$426,240Raw Materials is

1. Prepare journal entries to record the August transactions.
Part A
Crusaders Furniture Ltd uses a job order costing system. The August cost data were as follows:
Raw Materials purchased on credit $411,840
Direct Labour costs$426,240
Raw Materials issued to production$383,050
Actual factory overhead costs (includes
Depreciation of $31,680)$319,680
Cost of Goods Manufactured$1,097,300
Sales (all credit)$1,209,600
Machine hours for August were 64 800 hours and the business applied factory overhead to production at a rate of $5.75 per machine hour.
The beginning raw materials inventory was $46 080.
The beginning work in process inventory was $77 760.
The beginning and ending finished goods inventory were $115 200 and
$149 750 respectively.
Required:
1.Prepare journal entries to record the August transactions.
2.Prepare the t-accounts for raw materials and work in process and show the ending balances.

Part B
Leisure Life manufactures various sporting equipment. During the first year of operations the company worked on four jobs. The predetermined overhead application rate was 150% of direct labour cost. Job 104 included direct materials of $20,000 and total costs were $25,000.
Calculate the manufacturing overhead applied to Job 104 to date.
(15 Marks = 18 Minutes)

准备八月份的交易报表.