Given the Following Information for Simpson Corporation,prepare the Necessary Journal

question 95

Essay

Given the following information for Simpson Corporation,prepare the necessary journal entries,assuming that the Raw Material Inventory account contains both direct and indirect material.
a. Purchased raw material on account $28,500.
b. Put material into production: $15,000 of direct material and $3,000 of indirect material.
c. Accrued payroll of $90,000, of which 70 percent was direct and the remainder was indirect.
d. Incurred and paid other overhead items of $36,000.
e. Transferred items costing $86,500 to finished goods.
f. Sold goods costing $71,300 on account for $124,700.

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Definitions:

1-Bromohexane

A compound consisting of a six-carbon chain with a bromine atom attached to the first carbon.

Amide Synthesis

The process of forming amide bonds between carboxylic acids and amines, commonly involving methods such as direct coupling or activation of the carboxylic acid.

Acylation

A chemical process that introduces an acyl group into a compound, often used in organic syntheses to modify molecules.

Amine

An organic compound derived from ammonia (NH3) by replacement of one or more hydrogen atoms by alkyl or aryl groups.