Answered step by step
Verified Expert Solution
Question
1 Approved Answer
DB-CHAPTER M2 (1).xIsx u-my.sharepoint.com/:x:/r/personal/lespinal_my_ccri_edu/_layouts/15/Doc.aspx?sourcedoc=%7BA43E357F-568E-4.. A Excel DB-CHAPTER M2 (1) - Saved Search (Alt + Q) File Home Insert Draw Page Layout Formulas Data Review View
DB-CHAPTER M2 (1).xIsx u-my.sharepoint.com/:x:/r/personal/lespinal_my_ccri_edu/_layouts/15/Doc.aspx?sourcedoc=%7BA43E357F-568E-4.. A Excel DB-CHAPTER M2 (1) - Saved Search (Alt + Q) File Home Insert Draw Page Layout Formulas Data Review View Automate Calibri 11 A A de Wrap Text % LA Paste BIUDab A Merge & Center Number Styles Cells Undo Clipboard Font Alignment A2 X V f A B C D E F G H K 1 DISCUSSION BOARD PROBLEM - CHAPTER M2 2 Journalize the following transactions for Gecco Manufacturing. 1. Purchased raw materials on account, $660,000. 2. Raw materials used in production: direct materials = $504,000 VOUP and indirect materials = $73,500. 3. Incurred total manufacturing wages of $681,500, of which 8 $586,000 was direct labor and $95,500 was indirect labor. 9 4. Other manufacturing overhead costs incurred (depreciation, insurance, 10 property taxes, etc.) totalled $215,220. (Record one transaction 11 and credit "Other Accounts.") 12 5. Allocated manufacturing overhead to jobs, 65% of direct labor costs. 13 6. Completed production on jobs with costs of $871,800. 14 7. Sold inventory on account for $1,290,000 that cost $860,000 to manufacture. 5 8. Record the adjustment to transfer the remaining balance in the manufacturing overhead account to cost of goods sold. Sheet1 + Calculation Mode: Automatic Workbook Statistics Give Feed EPIC 36F Mostly cloudy TOL ESL F1 FZ F3 FU FS FG F7 FH Fib FI1 FIZ PS SL INS HM PU NUM 45 DEL END CTRL CTRL ALTHome Insert Draw Page Layout Formulas Data Review View Calibri 11 A A ab Wrap Text o E Paste Number B I U Da Merge & Center ~ Clipboard Font Alignment X A B D G H Transaction # DEBIT CREDIT BO B1 132 Sheet1 + Calculation Mode: Automatic Workbook Statistics EPIC 36OF TCL FS FII FIZ SL ESC F1 FZ F3 FS FG F7 F8 INS HM PU NUM 3 16 5% 7K 8 * 9 1 DEL END ALT FN CTRL ALT
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started