Question
During May, Bergan Company incurred factory overhead costs as follows: indirect materials, $34,500; indirect labor, $80,700; utilities cost, $13,400; and factory depreciation, $47,600. Journalize the
During May, Bergan Company incurred factory overhead costs as follows: indirect materials, $34,500; indirect labor, $80,700; utilities cost, $13,400; and factory depreciation, $47,600.
Journalize the entry on May. 30 to record the factory overhead incurred during May. Refer to the Chart of Accounts for exact wording of account titles.
CHART OF ACCOUNTSBergan CompanyGeneral Ledger
ASSETS | |
110 | Cash |
121 | Accounts Receivable |
125 | Notes Receivable |
126 | Interest Receivable |
131 | Materials |
132 | Work in Process |
133 | Factory Overhead |
134 | Finished Goods |
141 | Supplies |
142 | Prepaid Insurance |
143 | Prepaid Expenses |
181 | Land |
191 | Factory |
192 | Accumulated Depreciation-Factory |
LIABILITIES | |
210 | Accounts Payable |
221 | Utilities Payable |
231 | Notes Payable |
236 | Interest Payable |
241 | Lease Payable |
251 | Wages Payable |
252 | Consultant Fees Payable |
EQUITY | |
311 | Common Stock |
340 | Retained Earnings |
351 | Dividends |
390 | Income Summary |
REVENUE | |
410 | Sales |
610 | Interest Revenue |
EXPENSES | |
510 | Cost of Goods Sold |
520 | Wages Expense |
531 | Selling Expenses |
532 | Insurance Expense |
533 | Utilities Expense |
534 | Office Supplies Expense |
540 | Administrative Expenses |
560 | Depreciation Expense-Factory |
590 | Miscellaneous Expense |
710 | Interest Expense
Journalize the entry on May. 30 to record the factory overhead incurred during May. Refer to the Chart of Accounts for exact wording of account titles.
|
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