Golden Shower Company

Journal Entries

a. Materials Inventory 229,040.00

Accounts Payable 229,040.00

b. Payroll 220,000.00
Witholding Tax Payable 31,000.00
SSS Premium Payable 7,000.00
Philhealth Cont. Payable 440.00
Pag-ibig Fund Cont. Payable 6,600.00
Accrued Payroll 174,960.00

Accrued Payroll 174,960.00

Cash 174,960.00

c. Work in Process 156,000.00

Factory Overhead Control 24,000.00
Marketing & Admin. Exp Control 40,000.00
Payroll 220,000.00

Factory Ovehead Control 14,760.00

Marketing & Admin. Exp Control 3,280.00
SSS Premium Payable 11,000.00
Philhealth Cont. Payable 440.00
Pag-ibig Fund Cont. Payable 6,600.00

SSS Philhealth Pag-ibig

5% 0.20% 3%
Factory OH control 9,000.00 360.00 5,400.00
Marketing & Admin. Control 2,000.00 80.00 1,200.00
11,000.00 440.00 6,600.00

d. Work in Process 216,350.00

Factory Overhead Control 15,040.00
Materials 231,390.00

JOB 101 JOB 102

X 20,000.00 Y 24,000.00
X 83,200.00 Y 60,000.00
103,200.00 84,000.00
e. Work in Process 85,500.00
Factory Overhead Applied 85,500.00

JOB 101 22,500.00

JOB 102 36,000.00
JOB 103 27,000.00
85,500.00

f. Accounts Receivable 510,000.00

Sales 510,000.00

Cost of Goods Sold 380,700.00

Work in Process 380,700.00

g. Cash 494,000.00
Sales Discount 24,700.00
Accounts Receivable 518,700.00

h. Marketing & Admin. Exp Control 30,000.00

Factory OH Contril 25,600.00
Cash 51,600.00
Accum Derpreciation 4,000.00

i. Accounts Payable 170,000.00

Cash 170,000.00

j. Factory Overhead Applied 85,000.00

Cost of Goods Sold 6,100.00
Factory Overhead 79,400.00

JOB 101
Direct Materials Direct Labor Factory Overhead
5,000.00 4,000.00 2,000.00
103,200.00 44,000.00 22,500.00
108,200.00 48,000.00 24,500.00

JOB 102
Direct Materials Direct Labor Factory Overhead
1,200.00 2,000.00 800.00
 84,000.00 80,000.00 36,000.00
85,200.00 82,000.00 36,800.00

JOB 103
Direct Materials Direct Labor Factory Overhead
21,950.00 36,000.00 27,000.00
Total

14,760.00
3,280.00
18,040.00

JOB 103
X 10,400.00
Y 18,750.00
29,150.00