Hoochie Mama, Inc. manufactures Lingerie and specializes in tight underwear. Amy Awesome is the new CFO and chief accountant for the company. She is responsible for all journal entries and ledger accounts. Unfortunately, she has no idea what she is doing and needs your help. Consider the following transactions for Hoochie Mama, Inc.: 1 Purchase of materials for cash 2 3 4 5 6 7 Incurred Wages for factory seamstresses Incurred Wages for factory supervisor Used in Production - Cloth Used in Production - Thread Incurred certain costs: Factory Deprecation Factory Insurance Factory Property Taxes Allocation of Overhead to Jobs at 120% of Direct Labor Costs Completion of Production Sold Completed Units worth 80,000 30,000 8,000 56,000 4,000 22,000 2,000 5,000 ? 90,000 80,000 8 Received for those 40,000 worth of units 150,000 9 Closed out Overhead for the year ? Paid Cash for Web site expenses 12,000 10 Make the journal entries for Amy Awesome -20 points Compute the T Accounts - 4 Points Use the Space provided on the next two pages for journal entries!! Do Not worry about dates or descriptions for the journal entries Work In Process Management Accounting Overhead T Page 7