Question:
Brent uses a standard cost accounting system. The following transactions occurred during the year:
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Feb. 20
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Purchased raw materials on account, $8,800 when the standard cost was $9,300.
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Mar. 5
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Incurred direct labor costs, $15,200 when the standard labor cost was $14,900.
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May 10
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Incurred manufacturing overhead costs, $11,000 (credit Accounts Payable).
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June 18
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Issued raw materials for production, $8,200 when the standard cost was $9,000.
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Aug. 3
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Assigned factory labor to production, $14,900 when the standard cost was $14,500.
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Sept. 10
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Applied manufacturing overhead to production, $10,150.
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Oct. 2
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Transferred completed work to finished goods, $29,700.
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Nov. 22
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Sold the finished goods on account for $42,000.
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Dec. 31
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Recognized unfavorable overhead variances: controllable $550 and volume $300.
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Instructions
Prepare the entries for D. Brent in the following general journal.