Prepare the Necessary Journal Entries from the Following Information for Alltizer

question 101

Essay

Prepare the necessary journal entries from the following information for Alltizer Company,which uses a perpetual inventory system.
a. Purchased raw material on acc ount $\$ 56,700 .$
b. Requisitioned raw material for prochuction as follows: direct material-80 percent of purchases; indirect material-15 percent of purchases.
c. Direct labor wages of $\$ 33,100$ are accrued as are indirect labor wages of $\$ 12,500$ .
d. Overhe ad incurred and paid for is $\$ 66,900$ .
e. Overhead is applied to production based on 110 percent of direct labor cost.
f. Goods costing $\$ 97,600$ were completed during the period.
g. Goods costing $\$ 51,320$ were sold on account for $\$ 77,600$ .

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Definitions:

Adult Memories

The recollection of experiences and information that individuals accumulate and store throughout their adult life.

Shadow Archetype

In Jungian psychology, a concept referring to the unconscious aspect of the personality which the conscious ego does not identify in itself, often embodying traits one dislikes or fears.

Collective Unconscious

A concept in Jungian psychology referring to the part of the unconscious mind which is derived from ancestral memory and experience and is common to all humankind.

Carl Jung

A Swiss psychiatrist and psychoanalyst who founded analytical psychology, known for concepts like archetypes and the collective unconscious.