ournalize the following transactions for Becah's Bakery: Becah's Bakery a. Incurred and paid Website expenses, $2,760. b. Incurred manufacturing wages of $10,100, of which 70% was for direct labor and 30% of which was for indirect labor. c. Purchased raw materials on account, $19,180. d. Used in production: direct materials, $8,020; indirect materials $3,720. e. Recorded manufacturing overhead: depreciation on plant, $14,150; plant insurance (previously paid), $1,340; plant property tax, $3,670 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 230% of direct labor costs. g. Completed production on jobs with costs of $36,770. h. Sold inventory on account, $26,680; cost of goods sold, $12,230. i. Adjusted for overallocated or underallocated overhead.
ournalize the following transactions for Becah's Bakery: Becah's Bakery a. Incurred and paid Website expenses, $2,760. b. Incurred manufacturing wages of $10,100, of which 70% was for direct labor and 30% of which was for indirect labor. c. Purchased raw materials on account, $19,180. d. Used in production: direct materials, $8,020; indirect materials $3,720. e. Recorded manufacturing overhead: depreciation on plant, $14,150; plant insurance (previously paid), $1,340; plant property tax, $3,670 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 230% of direct labor costs. g. Completed production on jobs with costs of $36,770. h. Sold inventory on account, $26,680; cost of goods sold, $12,230. i. Adjusted for overallocated or underallocated overhead.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Journalize the following transactions for Becah's Bakery:
Becah's Bakery
a. Incurred and paid Website expenses, $2,760. |
---|
b. Incurred manufacturing wages of $10,100, of which 70% was for direct labor and 30% of which was for indirect labor. |
c. Purchased raw materials on account, $19,180. |
d. Used in production: direct materials, $8,020; indirect materials $3,720. |
e. Recorded manufacturing |
f. Allocated manufacturing overhead to jobs, 230% of direct labor costs. |
g. Completed production on |
h. Sold inventory on account, $26,680; cost of goods sold, $12,230. |
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
Accounts Receivable
X
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
3,030✔
3,720✔
19,500 X
26,250 X
Submit All Parts
16,261 X
9,989 X
Debit
2,760✔
7,070✔
3,030✔
19,180✔
8,020 ✓
3,720✓
19,500 ×
16,261 X
36,770✔
26,680✔
12,230✔
9,989 X
Credit
2,760✔
10,100✓
19,180✔
11,740✔
14,150 ✓
1,340✔
3,670✔
16,261 X
36,770✔
26,680✔
12,230✔
9,989 X](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff500b958-74b7-41bd-8c6e-ccb2d7e1e6a8%2F49097fde-c821-444c-bf7c-a34f5aa07581%2Faljlv4h_processed.png&w=3840&q=75)
Transcribed Image Text: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
Accounts Receivable
X
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
3,030✔
3,720✔
19,500 X
26,250 X
Submit All Parts
16,261 X
9,989 X
Debit
2,760✔
7,070✔
3,030✔
19,180✔
8,020 ✓
3,720✓
19,500 ×
16,261 X
36,770✔
26,680✔
12,230✔
9,989 X
Credit
2,760✔
10,100✓
19,180✔
11,740✔
14,150 ✓
1,340✔
3,670✔
16,261 X
36,770✔
26,680✔
12,230✔
9,989 X
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