Job Order Cost System-Journal Entries

Essay

Job order cost system-journal entries
Paxton Products,which uses a job order cost system,completed the following transactions during the current month:
(A)Materials costing $75,000 were used on various jobs.
(B)Time cards of direct workers indicate direct labor costs of $125,000 for the month.
(C)Overhead is applied to jobs at a rate of 75% of direct labor cost.
(D)Jobs with total accumulated costs of $165,000 were finished during the month.
(E)Units costing $210,000 were sold during the month at sales prices totaling $390,000.All sales were on account.
In the space provided,prepare a general journal entry for the month summarizing each of the above categories of transactions.Explanations may be omitted.