Journalize the following transactions for Becah's Bakery:Becah's Bakerya. 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. Datea.b.C.d.e.f.g.h.h.i.Website ExpenseCashWork-in-ProcessManufacturing OverheadWages PayableDescriptionRaw Materials InventoryAccounts PayableWork-in-ProcessManufacturing Overhead✓Raw Materials InventoryManufacturing OverheadAccumulated Depreciation-Plant ✓Prepaid InsuranceProperty Tax PayableWork-in-ProcessManufacturing OverheadFinished Goods InventoryWork-in-ProcessAccounts ReceivableSales RevenueCost of Goods SoldFinished Goods InventoryCost of Goods SoldManufacturing OverheadManufacturing OverheadXXXXVXDebit2,650 ✓7,840 ✓1,960✔18,930✔7,980✔3,600✔19,800✓18,032 X35,980✔25,110✔12,240✔7,328 XCredit2,650✔9,800✔18,930✔11,580✔14,740 ✓1,430 ✓3,630 ✓18,032 X35,980✔25,110 ✓12,240 ✓7,328 X

Journal entries are made to record the transactions as the first process in the books of accounts…

Answered: Journalize the following transactions…

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, $2,650.
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.

Date
a.
b.
C.
d.
e.
f.
g.
h.
h.
i.
Website Expense
Cash
Work-in-Process
Manufacturing Overhead
Wages Payable
Description
Raw Materials Inventory
Accounts Payable
Work-in-Process
Manufacturing Overhead
✓
Raw Materials Inventory
Manufacturing Overhead
Accumulated Depreciation-Plant ✓
Prepaid Insurance
Property Tax Payable
Work-in-Process
Manufacturing Overhead
Finished Goods Inventory
Work-in-Process
Accounts Receivable
Sales Revenue
Cost of Goods Sold
Finished Goods Inventory
Cost of Goods Sold
Manufacturing Overhead
Manufacturing Overhead
X
X
X
X
V
X
Debit
2,650 ✓
7,840 ✓
1,960✔
18,930✔
7,980✔
3,600✔
19,800✓
18,032 X
35,980✔
25,110✔
12,240✔
7,328 X
Credit
2,650✔
9,800✔
18,930✔
11,580✔
14,740 ✓
1,430 ✓
3,630 ✓
18,032 X
35,980✔
25,110 ✓
12,240 ✓
7,328 X

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