FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
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 |
| 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. |
Transcribed Image Text:Date
a.
b.
C.
d.
e.
f.
g.
h.
h.
Website Expense
Cash
Work-in-Process
Manufacturing Overhead
Wages Payable
Raw Materials Inventory
Accounts Payable
Work-in-Process
Description
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 ×
26,250 X
Submit All Parts
16,261 X
9,989 X
V
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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