Job Costing Account Flow for Journal Entries ROM! o where the cost is coming "Note: Journal Entries are made by OEBITING where the cot going TO (where arrow pints) ond CREDITING Raw Material Purchases () dlract materiale used (8) 5) Raw Matera Inventory Indirect materials wed () Factory Payroll rect labor) | taber ee Jobs Completed Finished Goods E coames() Inventory | sobs | soi Cost of Goods SoldJournal Entries by account flow (see referenced eter) Bel Account /Desciotion enit coeds Raw Material laventory x ‘Cash or Accounts Payable Purchased row materials inventory Factory Payroll x Wages Payable ‘Record wages eared but unpaid rmgles of some ofthe entries you may record Record depreciation on factory equipment Manufacturing Overhead x Cash x ‘Record foctory ent paid with cosh Manutactring Overhead x Accounts Payable x ecard factory upplespurchosed on credit Workin Process Inventory x Raw Materials Inventory x Record Direct Materials Used Record INDIRECT materils usedRecord ost of jobs or goods completed AND sold