LO 4.7The following events occurred during March for Ajax Company. Prepare a journal entry for each transaction.
Materials were purchased on account for $5,429.
Materials were requisitioned to begin work on Job C15 in the amount of $2,500.
Direct labor expense for Job C15 was $4,250.
Actual overhead was incurred on account for $5,385.
Factory overhead was charged to Job C15 at the rate of 200% direct labor.
Job C15 was transferred to finished goods at $15,250.
Job C15 was sold on account for $28,000.
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Home » Business » PB13. LO 4.7The following events occurred during March for Ajax Company. Prepare a journal entry for each transaction. Materials were purchased on account for $5,429. Materials were requisitioned to begin work on Job C15 in the amount of $2,500.