Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $51,000, 2. Raw

Question

Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $51,000, 2. Raw Materials of $42,300 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,800 was classified as indirect materials. 3. Factory labor costs incurred were $66,200, of which $50,600 pertained to factory wages payable and $15,600 pertained to employer payroll taxes payable. Time tickets indicated that $55.000 was direct labor and $11,200 was indirect labor. 5. Manufacturing overhead costs incurred on account were $81,600. 6. Depreciation on the company's office building was $8,200. 7. Manufacturing overhead was applied at the rate of 160% of direct labor cost. Goods costing $89.400 were completed and transferred to finished goods. 9. Finished goods costing $84,400 to manufacture were sold on account for $110,500. 4. 8. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not

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Date Account Titles and Explanations Debit Credit 1 Raw Materials Inventory $ 51,000 Accounts Payable $ 51,000 2 Work in Process Inventory $ 33,500 Manufacturing Overhead $ 8,800 Raw Materials Inventory $ 42,300 3 Factory Labor $ 66,200 Factory Wages Payable $ 50,600 Employer payroll taxes payable $ 15,600 4 Work in Process Inventory $ 55,000 Manufacturing Overhead $ 11,200 Factory Labor $ 66,200 5 Manufacturing Overhead $ 81,600 Accounts Payable $ 81,600 6 Depreciation expense $ 8,200 Accumulated Depreciation-Buidling $ 8,200 7 Work in Process Inventory [ $ 55,000 x 160%] $ 88,000 Manufacturing Overhead $ 88,000 8 Finished goods inventory $ 89,400 Work in Process Inventory $ 89,400 9 Accounts Receivable $ 110,500 Sales revenue $ 110,500 Cost of goods sold $ 84,400 Finished goods inventory $ 84,400

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Crawford Corporation incurred the following transactions

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Date	Account Titles and Explanations	Debit	Credit
1	Raw Materials Inventory	$ 51,000
	Accounts Payable		$ 51,000

2	Work in Process Inventory	$ 33,500
	Manufacturing Overhead	$ 8,800
	Raw Materials Inventory		$ 42,300

3	Factory Labor	$ 66,200
	Factory Wages Payable		$ 50,600
	Employer payroll taxes payable		$ 15,600

4	Work in Process Inventory	$ 55,000
	Manufacturing Overhead	$ 11,200
	Factory Labor		$ 66,200

5	Manufacturing Overhead	$ 81,600
	Accounts Payable		$ 81,600

6	Depreciation expense	$ 8,200
	Accumulated Depreciation-Buidling		$ 8,200

7	Work in Process Inventory [ $ 55,000 x 160%]	$ 88,000
	Manufacturing Overhead		$ 88,000

8	Finished goods inventory	$ 89,400
	Work in Process Inventory		$ 89,400

9	Accounts Receivable	$ 110,500
	Sales revenue		$ 110,500

	Cost of goods sold	$ 84,400
	Finished goods inventory		$ 84,400