a. Incurred and paid Web site expenses, $2,700. b. Incurred manufacturing wages of $18,000, 55% of which was direct labor and 45% of which wa indirect labor. c. Purchased raw materials on account, $16,000. d. Used in production: direct materials, $9,500; indirect materials, $4,000. e. Recorded manufacturing overhead: depreciation on plant, $19,000; plant insurance (previously paid), $1,300; plant property tax, $3,400 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 170% of direct labor costs. g. Completed production on jobs with costs of $34,000. h. Sold inventory on account, $24,000; cost of goods sold, $10,000. i. Adjusted for overallocated or underallocated overhead.
a. Incurred and paid Web site expenses, $2,700. b. Incurred manufacturing wages of $18,000, 55% of which was direct labor and 45% of which wa indirect labor. c. Purchased raw materials on account, $16,000. d. Used in production: direct materials, $9,500; indirect materials, $4,000. e. Recorded manufacturing overhead: depreciation on plant, $19,000; plant insurance (previously paid), $1,300; plant property tax, $3,400 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 170% of direct labor costs. g. Completed production on jobs with costs of $34,000. h. Sold inventory on account, $24,000; cost of goods sold, $10,000. i. Adjusted for overallocated or underallocated overhead.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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journalize the transactions, please explain to me how you got the numbers
Transcribed Image Text:a. Incurred and paid Web site expenses, $2,700.
b. Incurred manufacturing wages of $18,000, 55% of which was direct labor and 45% of which wa
indirect labor.
c. Purchased raw materials on account, $16,000.
d. Used in production: direct materials, $9,500; indirect materials, $4,000.
e. Recorded manufacturing overhead: depreciation on plant, $19,000; plant insurance (previously
paid), $1,300; plant property tax, $3,400 (credit Property Tax Payable).
f. Allocated manufacturing overhead to jobs, 170% of direct labor costs.
g. Completed production on jobs with costs of $34,000.
h. Sold inventory on account, $24,000; cost of goods sold, $10,000.
i. Adjusted for overallocated or underallocated overhead.
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