!Required information[The following information applies to the questions displayed below.]Bergo Bay's accounting system generated the following account balances on December 31. The company's managerknows something is wrong with this list of balances because it does not show any balance for Work in Process Inventory,and the accrued factory payroll (Factory Wages Payable) has not been recorded.CashAccounts receivableRaw materials inventoryWork in process inventoryFinished goods inventoryPrepaid rentAccounts payableNotes payableCommon stockRetained earnings (prior year)SalesCost of goods soldFactory overheadGeneral and administrative expensesTotalsDebit$ 77,00046,00028,00009,0003,000108,00026,00049,000$ 346,000Credit$ 10,00013,00030,00082,000211,000$ 346,000These six documents must be processed to bring the accounting records up to date.Materials requisition 10:Materials requisition 11:Materials requisition 12:Labor time ticket 52:Labor time ticket 53:Labor time ticket 54:$4,700 direct materials to Job 402$ 7,300 direct materials to Job 404$ 1,900 indirect materials$ 4,000 direct labor to Job 402$ 16,000 direct labor to Job 404$ 5,000 indirect labor Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is 150% of direct labor cost.a. Direct materials.b. Direct labor.c. Overhead applied.d. Indirect materials.e. Indirect labor.Required:1. Use the document information above to prepare journal entries for the above costs.

These six documents must be processed to bring the accounting records up to date. $ 4,700 direct materials to Job 402 $ 7,300 direct materials to Job 404 $ 1,900 indirect materials Materials requisition 10: Materials requisition 11: Materials requisition 12: Labor time ticket 52: Labor time ticket 53: Labor time ticket 54: $ 4,000 direct labor to Job 402 $ 16,000 direct labor to Job 404 $5,000 indirect labor

These six documents must be processed to bring the accounting records up to date. $ 4,700 direct materials to Job 402 $ 7,300 direct materials to Job 404 $ 1,900 indirect materials Materials requisition 10: Materials requisition 11: Materials requisition 12: Labor time ticket 52: Labor time ticket 53: Labor time ticket 54: $ 4,000 direct labor to Job 402 $ 16,000 direct labor to Job 404 $5,000 indirect labor

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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Job 113 was completed at a cost of $4,800, and Job 85 was completed at a cost of $3,300 and sold on account for $4,500. Prepare journal entries for the following: If an amount box does not require an entry, leave it blank. A. Completion of Job 113. fill in the blank ec5974fe0f8f04b_2 fill in the blank ec5974fe0f8f04b_3 fill in the blank ec5974fe0f8f04b_5 fill in the blank ec5974fe0f8f04b_6 B. Completion and sale of Job 85. fill in the blank ac9efe072f91fff_2 fill in the blank ac9efe072f91fff_3 fill in the blank ac9efe072f91fff_5 fill in the blank ac9efe072f91fff_6 fill in the blank ac9efe072f91fff_8 fill in the blank ac9efe072f91fff_9 fill in the blank ac9efe072f91fff_11 fill in the blank ac9efe072f91fff_12 fill in the blank ac9efe072f91fff_14 fill in the blank ac9efe072f91fff_15 fill in the blank ac9efe072f91fff_17 fill in the blank ac9efe072f91fff_18
Just answer the sub-part d. Thank you!
Question Content Area Journalize the entries to record the following transactions: Mar. 10: 600 units of raw materials were purchased on account at $5.50 per unit. Mar. 15: 500 units of raw materials were requisitioned at $6.00 per unit for production, Job 872. Mar. 25: 400 units of raw materials were requisitioned at $5.50 per unit for production, Job 879. If an amount box does not require an entry, leave it blank.
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Entry for Factory Labor Costs A summary of the time tickets is as follows: Job No. Amount 100 $4,800 101 5,875 104 18,250 108 15,500 Indirect 8,220 111 9,430 115 12,675 117 19,225 Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9
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Entry for Jobs Completed; Cost of Unfinished Jobs The following account appears in the ledger prior to recognizing the jobs completed in March: Work in Process Line Item Description Amount Balance, March 1 $9,950 Direct materials 80,890 Direct labor 87,260 Factory overhead 45,870 Jobs finished during March are summarized as follows: Line Item Description Amount Job 459 $40,310 Job 510 24,640 Job 512 47,030 Job 523 82,870 Question Content Area a. Journalize the entry to record the jobs completed. If an amount box does not require an entry, leave it blank. blankAccountDebitCredit blank Question Content Area b. Determine the cost of the unfinished jobs at March 31. fill in the blank 1 of 1$
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Accounting July 5 Received material costing $6,000 from a supplier. The material was purchased on account. 9 Requisitioned $18,000 of material for use in the factory, consisting of $15,000 of direct material and $3,000 of indirect material. 11 Recorded the factory payroll: $40,500 of direct labor and $4,500 of indirect labor. 17 Incurred various overhead costs totaling $42,000. (Credit Accounts Payable.) 20 Applied $60,000 of manufacturing overhead to the products being manufactured. 23 Completed product costing $48,000 and moved it to the warehouse. Sold goods with a product cost of $9,000 on account for $15,000. 26 a. and b. Record the transactions listed above in general journal form, post relevant portions to the four T-accounts set-up below, and balance the four accounts. General Journal Date Description Debit Credit July 5 Materials inventory 0 x Accounts payable July 9 Work in process inventory 0 x Manufacturing overhead Materials inventory July 11 Work in process inventory…