Journalize the following transactions for Becah's Bakery:Becah's Bakerya. Incurred and paid Website expenses, $2,790.b. Incurred manufacturing wages of $10,600, of which 60% was for direct labor and 40% of which was for indirect labor.c. Purchased raw materials on account, $18,370.d. Used in production: direct materials, $8,040; indirect materials $3,650.e. Recorded manufacturing overhead: depreciation on plant, $14,410; plant insurance (previously paid), $1,370; plant property tax, $3,750 (credit Property Tax Payable).f. Allocated manufacturing overhead to jobs, 230% of direct labor costs.g. Completed production on jobs with costs of $36,960.h. Sold inventory on account, $25,690; cost of goods sold, $11,380.i. Adjusted for overallocated or underallocated overhead. Datea.b.C.d.e.f.g.h.h.i.Website ExpenseCashWork-in-Process✓Manufacturing OverheadWages Payable✓DescriptionRaw Materials InventoryAccounts PayableWork-in-ProcessManufacturing OverheadRaw Materials InventoryManufacturing OverheadAccumulated Depreciation-Plant ✓Prepaid InsuranceProperty Tax PayableWork-in-Process✓Manufacturing OverheadFinished Goods InventoryWork-in-ProcessAccounts Receivable✓Sales RevenueCost of Goods SoldFinished Goods InventoryCost of Goods SoldManufacturing OverheadManufacturing Overhead4,240✔14,628 ✔3,650✔19,530 ✓27,420 X12,792 X27,420 XVDebit2,790✔6,360✔4,240 ✓18,370 ✓8,040 ✓3,650 ✓19,530✓14,628✓36,960✔25,690✔11,380✓12,792✔Credit2,790 ✓10,600✓✔18,370✓✔11,690✓14,4101,370✓3,750 ✓14,628 ✔36,960✔25,690 ✓11,380✔12,792 ✓

Journal entries, which are used in double-entry accounting systems, need to have both a debit and a…

Journalize the following transactions for Becah's Bakery: Becah's Bakery a. Incurred and paid Website expenses, $2,790. b. Incurred manufacturing wages of $10,600, of which 60% was for direct labor and 40% of which was for indirect labor. c. Purchased raw materials on account, $18,370. d. Used in production: direct materials, $8,040; indirect materials $3,650. e. Recorded manufacturing overhead: depreciation on plant, $14,410; plant insurance (previously paid), $1,370; plant property tax, $3,750 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 230% of direct labor costs. g. Completed production on jobs with costs of $36,960. h. Sold inventory on account, $25,690; cost of goods sold, $11,380. i. Adjusted for overallocated or underallocated overhead.

Journalize the following transactions for Becah's Bakery: Becah's Bakery a. Incurred and paid Website expenses, $2,790. b. Incurred manufacturing wages of $10,600, of which 60% was for direct labor and 40% of which was for indirect labor. c. Purchased raw materials on account, $18,370. d. Used in production: direct materials, $8,040; indirect materials $3,650. e. Recorded manufacturing overhead: depreciation on plant, $14,410; plant insurance (previously paid), $1,370; plant property tax, $3,750 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 230% of direct labor costs. g. Completed production on jobs with costs of $36,960. h. Sold inventory on account, $25,690; cost of goods sold, $11,380. i. Adjusted for overallocated or underallocated overhead.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter2: Job Order Costing

Section: Chapter Questions

Problem 3E: Cost of materials issuances under the FIFO method An incomplete subsidiary ledger of materials...

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a. Incurred and paid Website expenses, $2,790.
b. Incurred manufacturing wages of $10,600, of which 60% was for direct labor and 40% of which was for indirect labor.
c. Purchased raw materials on account, $18,370.
d. Used in production: direct materials, $8,040; indirect materials $3,650.
e. Recorded manufacturing overhead: depreciation on plant, $14,410; plant insurance (previously paid), $1,370; plant property tax, $3,750 (credit Property Tax Payable).
f. Allocated manufacturing overhead to jobs, 230% of direct labor costs.
g. Completed production on jobs with costs of $36,960.
h. Sold inventory on account, $25,690; cost of goods sold, $11,380.
i. Adjusted for overallocated or underallocated overhead.

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