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Need help with part 2,3,4 thanks please let me know if you need anymore information. Prob 5-26 Name:______________________________________ Journal Entries Enter the journal entries for
Need help with part 2,3,4
thanks
please let me know if you need anymore information.
Prob 5-26 Name:______________________________________ Journal Entries Enter the journal entries for items a) through l). Use the pull-down menus on the cells to select the accounts. a) Materials Inventory 60,100 Accounts Payable 60,100 b) c) d) e) f) g) h) i) j) k) l) Materials Inventory Overhead Control Materials Inventory 50,000 8,800 Wages Payable Wages Payable Administrative Expense Selling Expense Wages Payable 75,000 36,000 28,000 19,000 Overhead Control Accumulated Depreciation 10,400 58,800 158,000 Overhead Control Property Tax Payable 1,450 Overhead Control Prepaid Insurance 6,200 Overhead Control Utilities Payable 5,500 Selling Expense Advertising Payable 7,900 Administrative Expense Selling Expense Accumulated Depreciation 800 1,650 1,450 6,200 5,500 7,900 Administrative Expense Legal Fees Payable 2,450 750 750 Work-in-Process Inventory Overhead Control 72,000 72,000 Finished Goods Inventory Work-in-Process Inventory 2). T-Accounts Post relevant information from journal entries above to appropriate t-accounts. Materials Inventory Beg. Bal. - Overhead Control - Work in Process Beg. Bal. - Finished Goods Beg. Bal. 3). 10,400 Jerico Company 160,000 160,000 Schedule of Cost of Goods Manufactured For the Month Ended May 31, 20XX Direct materials Direct labor Overhead: Supplies Indirect labor Depreciation, plant and equipment Property taxes Utilities, factory Insurance $ - Plus: Overapplied overhead Overhead applied Manufacturing costs added Add: beginning work in process $ - $ - Less: ending work in process Cost of goods manufactured 4).If the overhead variance is all allocated to cost of goods sold, by how much will cost of goods sold decrease or increaseStep by Step Solution
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