During January, its first month of operations, Crane Company accumulated the following manufacturing costs: raw materials purchased $5.200 on account, factory labor incurred $6,200, and factory utilities payable $2.700 Prepare separate journal entries for each type of manufacturing cost. (List all debit entries before credit entries. Credit account titles are automatically Indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Jan. 31 Raw Materials Inventory Accounts Payable (To record purchase of raw on account) Debit 5.200 Credit 5.200

During January, its first month of operations, Crane Company accumulated the following manufacturing costs: raw materials purchased $5.200 on account, factory labor incurred $6,200, and factory utilities payable $2.700 Prepare separate journal entries for each type of manufacturing cost. (List all debit entries before credit entries. Credit account titles are automatically Indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Jan. 31 Raw Materials Inventory Accounts Payable (To record purchase of raw on account) Debit 5.200 Credit 5.200

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 17E: Nelson Fabrication Inc. had a remaining credit balance of $20,000 in its under- and overapplied...

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