ournalize the following transactions for Becah's Bakery:Becah's Bakerya. Incurred and paid Website expenses, $2,610.b. Incurred manufacturing wages of $10,900, of which 70% was for direct labor and 30% of which was for indirect labor.c. Purchased raw materials on account, $18,040.d. Used in production: direct materials, $7,970; indirect materials $3,630.e. Recorded manufacturing overhead: depreciation on plant, $14,190; plant insurance (previously paid), $1,440; plant property tax, $3,650 (credit Property Tax Payable).f. Allocated manufacturing overhead to jobs, 230% of direct labor costs.g. Completed production on jobs with costs of $35,580.h. Sold inventory on account, $25,980; cost of goods sold, $12,650.i. Adjusted for overallocated or underallocated overhead. Datea.b.C.d.e.f.g.h.h.i.Website Expense✓CashWork-in-ProcessManufacturing OverheadWages PayableDescriptionRaw Materials InventoryAccounts PayableWork-in-ProcessManufacturing OverheadRaw Materials InventoryManufacturing Overhead✓Accumulated Depreciation-Plant ✓Prepaid InsuranceProperty Tax PayableWork-in-ProcessManufacturing OverheadFinished Goods InventoryWork-in-ProcessAccounts ReceivableSales RevenueCost of Goods SoldFinished Goods InventoryCost of Goods SoldManufacturing OverheadManufacturing Overhead17,549 X3,270 ✓3,630✔19,280 ✓26,180 X8,631 XV26,180 XDebit2,610 ✓7,630 ✓3,270✔18,040✔7,970 ✓3,630✔19,280✔17,549 X35,580✔25,980✔12,650✔8,631 XCredit2,610 ✓10,900✓18,040✔11,600✓14,1901,440 ✓3,650✔17,549 X35,580 ✓25,980✔12,650✔8,631 X

Journal entries are the accounting entries made in a company's books of accounts in order to record…

Answered: ournalize the following transactions…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Concept explainers

Question

ournalize the following transactions for Becah's Bakery:

Becah's Bakery

a. Incurred and paid Website expenses, $2,610.
b. Incurred manufacturing wages of $10,900, of which 70% was for direct labor and 30% of which was for indirect labor.
c. Purchased raw materials on account, $18,040.
d. Used in production: direct materials, $7,970; indirect materials $3,630.
e. Recorded manufacturing overhead: depreciation on plant, $14,190; plant insurance (previously paid), $1,440; plant property tax, $3,650 (credit Property Tax Payable).
f. Allocated manufacturing overhead to jobs, 230% of direct labor costs.
g. Completed production on jobs with costs of $35,580.
h. Sold inventory on account, $25,980; cost of goods sold, $12,650.
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
17,549 X
3,270 ✓
3,630✔
19,280 ✓
26,180 X
8,631 X
V
26,180 X
Debit
2,610 ✓
7,630 ✓
3,270✔
18,040✔
7,970 ✓
3,630✔
19,280✔
17,549 X
35,580✔
25,980✔
12,650✔
8,631 X
Credit
2,610 ✓
10,900✓
18,040✔
11,600✓
14,190
1,440 ✓
3,650✔
17,549 X
35,580 ✓
25,980✔
12,650✔
8,631 X

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions