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Barker Products is a job shop. The following events occurred in September: 1. Purchased $14,000 of materials on account. 2. Issued $15,500 in direct materials
Barker Products is a job shop. The following events occurred in September: 1. Purchased $14,000 of materials on account. 2. Issued $15,500 in direct materials to the production department. 3. Purchased $12,000 of materials on account. 4. Issued $950 of supplies from the materials inventory. 5. Paid for the materials purchased in transaction (1). 6. Paid $20,200 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing plant. 7. Incurred direct labor costs of $24,000, which were credited to Wages Payable. 8 . Issued $1,350 of supplies from the materials inventory. 9. Applied overhead on the basis of 85 percent of $24,000 direct labor costs. 10. Recognized depreciation on manufacturing property, plant, and equipment of $12,600. The following balances appeared in the accounts of Barker Products for September: Required: a. Prepare journal entries to record the transactions. b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Note: Enter debits before credits. Complete this question by entering your answers in the tabs below
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