Chapter 16 10/12/2023

What is this JE for?

• Purchase of materials on account

• Requisition of materials

• Purchase of materials with cash

• Purchase of Indirect Materials

What is this JE for?

• Purchase of materials on account

• Purchase of materials with cash

• Materials Requisition

• Direct Labor Hours Requisitioned

What is this JE for?

• Record COGS

• Record IL

• Records FOH

• Record DL

What is this JE for?

• Record Materials Requisition

• Record DL

• Record FOH (MOH)

• Record Actual Overhead

what is this JE for

• Recording FOH

• Apply factory overhead

• Recording cost of goods manufactured to finished to goods

• Record COGS

What does this JE record?

• Underapplied FOH

• Overapplied FOH

What does this JE records

• Overapplied FOH

• Underapplied FOH

How do you feel about chapter 16?

• Easier than 13 & 14

• Confused

• Feel pretty good about it

Where is over or underapplied overhead normally transferred to?

• COGS

• COGM

• Finished Goods

• WIP