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.

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Chapter1: Financial Statements And Business Decisions
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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.

 

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
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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