Current Attempt in ProgressDuring January, its first month of operations, Cullumber Company accumulated the following manufacturing costs: raw materialspurchased $5,100 on account, factory labor incurred $7,500, and factory utilities payable $2.900Prepare separate Journal entries for each type of manufacturing cont. (List all debit entries before credit entries. Credit account titles areautomatically indented when amount is entered. Do not indent manually)Date Account Titles and ExplanationJan. 313131(To record purchase of raw materials on account)(To record factory labor costs)(To record entry for utbies payable)DebitCredit00000

Journal Entry :— It is an act of recording transactions in books of account when transaction…

Current Attempt in Progress During January, its first month of operations, Cullumber Company accumulated the following manufacturing costs raw materials purchased $5,100 on account, factory labor incurred $7,500, and factory utilities payable $2.900 Prepare separate Journal entries for each type of manufacturing cost. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation 31 31 (To record purchase of raw materials on account) (To record factory labor costs) (To record entry for utilities payable) Debit Credit

Current Attempt in Progress During January, its first month of operations, Cullumber Company accumulated the following manufacturing costs raw materials purchased $5,100 on account, factory labor incurred $7,500, and factory utilities payable $2.900 Prepare separate Journal entries for each type of manufacturing cost. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation 31 31 (To record purchase of raw materials on account) (To record factory labor costs) (To record entry for utilities payable) Debit Credit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Journalize the following transactions for Becah's Bakery:Becah's Bakery a. Incurred and paid Website expenses, $2,880. b. Incurred manufacturing wages of $9,400, of which 60% was for direct labor and 40% of which was for indirect labor. c. Purchased raw materials on account, $18,570. d. Used in production: direct materials, $7,950; indirect materials $3,530. e. Recorded manufacturing overhead: depreciation on plant, $14,680; plant insurance (previously paid), $1,310; plant property tax, $3,620 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 230% of direct labor costs. g. Completed production on jobs with costs of $36,950. h. Sold inventory on account, $25,950; cost of goods sold, $12,530. i. Adjusted for overallocated or underallocated overhead. Journal Date Description Debit Credit a. a. b. b. b. c. c. d. d. d. e. e.…
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Journalize the following transactions for Becah's Bakery: Becah's Bakery a. Incurred and paid Website expenses, $2,650. b. Incurred manufacturing wages of $9,800, of which 80% was for direct labor and 20% of which was for indirect labor. c. Purchased raw materials on account, $18,930. d. Used in production: direct materials, $7,980; indirect materials $3,600. e. Recorded manufacturing overhead: depreciation on plant, $14,740; plant insurance (previously paid), $1,430; plant property tax, $3,630 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 230% of direct labor costs. g. Completed production on jobs with costs of $35,980. h. Sold inventory on account, $25,110; cost of goods sold, $12,240. i. Adjusted for overallocated or underallocated overhead.
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Required information Skip to question [The following information applies to the questions displayed below.] Information on Kwon Manufacturing’s activities for its first month of operations follows: Purchased $100,100 of raw materials on credit. Materials requisitions show the following materials used for the month. Job 201 $ 48,300 Job 202 23,700 Total direct materials 72,000 Indirect materials 8,720 Total materials used $ 80,720 Time tickets show the following labor used for the month. Job 201 $ 39,300 Job 202 12,700 Total direct labor 52,000 Indirect labor 24,300 Total labor used $ 76,300 Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost. Transferred Job 201 to Finished Goods Inventory. (1) Sold Job 201 for $164,060 on credit. (2) Record cost of goods sold for Job 201. Incurred the following actual other overhead costs for the month. Depreciation of factory equipment $ 32,100 Rent on factory building (payable) 510 Factory…
urrent Attempt in Progress During January, its first month of operations, Ayayai Company accumulated the following manufacturing costs: raw materials purchased $5,400 on account, factory labor $6.700, and utilities payable $2,100. In January, requisitions of raw materials for production are as follows: Job 1 $960, Job 2 $1,200, Job 3 $790, and general factory use $680. Record raw materials used. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45)) Accumulated costs Direct materials used Indirect materials used Ending balance Raw Materials Inventory $ 5400 $ Manufacturing Costs Factory Labor 6700 Manufacturing Overhead 2100 Work in Proc
Journalize the following transactions for Becah's Bakery: Becah's Bakery a. Incurred and paid Website expenses, $2,770. b. Incurred manufacturing wages of $9,800, of which 80% was for direct labor and 20% of which was for indirect labor. c. Purchased raw materials on account, $18,220. d. Used in production: direct materials, $7,970; indirect materials $3,720. e. Recorded manufacturing overhead: depreciation on plant, $14,640; plant insurance (previously paid), $1,500; plant property tax, $3,800 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 230% of direct labor costs. g. Completed production on jobs with costs of $35,050. h. Sold inventory on account, $26,850; cost of goods sold, $11,680. i. Adjusted for overallocated or underallocated overhead.
Journalize the following transactions for Becah's Bakery:Becah's Bakery a. Incurred and paid Website expenses, $2,920. b. Incurred manufacturing wages of $10,900, of which 80% was for direct labor and 20% of which was for indirect labor. c. Purchased raw materials on account, $18,130. d. Used in production: direct materials, $8,100; indirect materials $3,670. e. Recorded manufacturing overhead: depreciation on plant, $14,410; plant insurance (previously paid), $1,460; plant property tax, $3,720 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 230% of direct labor costs. g. Completed production on jobs with costs of $35,240. h. Sold inventory on account, $25,040; cost of goods sold, $12,310. i. Adjusted for overallocated or underallocated overhead. Journal Date Description Debit Credit a. a. b. b. b. c. c. d. d. d. e. e.…
Determine specific amounts for the following items this month: Cost of Direct Materials used Cost of Direct Labor Manufacturing Overhead Cost Please don't provide answer in image format thank you