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    Journalize transactions

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    Greenleaf Manufacturing Company has two production departments: Cutting and assembly.

    August 1 inventories are:
    Raw Material $4,200
    Finished Goods $31,900
    Work-in Process Cutting $3,900
    Work-in Process Assembly $10,600

    Journalize these transactions

    1. Purchased raw materials for $56,300
    2.Incurreed factor labor - Credit wages payable $55,000
    3. Incurred manufacturing overhead $70,000 of this total, $36,000 was paid in cash, the remainder is unpaid
    4. Requisitioned materials for cutting is $15,700 and for assembly is $8,900.
    5. Used factory labor for cutting $28,000 and for assembly $27,000
    6. Applied overhead at the rate of $20 per machine hour. Machine hours were cutting 1,640 and assembly 1,720.
    7. Transferred goods costing $77,600 from the cutting department to assembly department.
    8. Transferred good costing $135,000 from assembly to finish goods.
    9. Sold goods costing $130,000 for $200,000 on account.

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    Solution Summary

    The solution explains the journal entries for the given transactions

    $2.19

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