Journalize the following transactions for Lake's Seats. Explanations are not required. (Click the icon to view the transactions.) More info a. Incurred and paid Web site expenses, $2,200. b. Incurred manufacturing wages of $14,000, 55% of which was direct labor and 45% of which was indirect labor. c. Purchased raw materials on account, $20,000. d. Used in production: direct materials, $8,000; indirect materials, $4,000. e. Recorded manufacturing overhead: depreciation on plant, $12,000; plant insurance (previously paid), $1,900; plant property tax, $4,300 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 180% of direct labor costs. g. Completed production on jobs with costs of $38,000. X

Journalize the following transactions for Lake's Seats. Explanations are not required. (Click the icon to view the transactions.) More info a. Incurred and paid Web site expenses, $2,200. b. Incurred manufacturing wages of $14,000, 55% of which was direct labor and 45% of which was indirect labor. c. Purchased raw materials on account, $20,000. d. Used in production: direct materials, $8,000; indirect materials, $4,000. e. Recorded manufacturing overhead: depreciation on plant, $12,000; plant insurance (previously paid), $1,900; plant property tax, $4,300 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 180% of direct labor costs. g. Completed production on jobs with costs of $38,000. X

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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