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Read the Data table Requirement 1. Prepare journal entries for the December 31 payroll. (Record debits first, then credits. Exclude explanations from any j Begin by preparing the journal entry to recognize indirect and direct payroll for the December 31 work day. Now prepare the journal entry to allocate manufacturing overhead. Requirement 2. Use T-accounts to compute the following transactions. (Click the icon to view the transactions.) More info Additional information follows: a. Direct materials purchased during December were $65,500. b. Cost of goods manufactured for December was $226,000. c. No direct materials were returned to suppliers. d. No units were started or completed on December 31 and no direct materials were requisitioned on December 31 . e. The manufacturing labor costs for the December 31 working day: direct manufacturing labor, $3,900, and indirect manufacturing labor, $1,000. f. Manufacturing overhead has been allocated at 150% of direct manufacturing labor costs through December 31. follows: (Click the icon to view the data.) (Click the icon to view the additional information.) Read the requirements. Requirement 2. Use T-accounts to compute the following transactions. (Click the icon to view the transactions.) Materials req. = Materials requisitioned; COGM= Cost of goods manufactured; COGS = Cost of goods sold.) Reference a. The total amount of materials requisitioned into work-in-process during December b. The total amount of direct manufacturing labor recorded in work-in-process during December (Hint: You have to solve requirements 2b and 2c simultaneously) c. The total amount of manufacturing overhead recorded in work-in-process during December d. Ending balance in work in process, December 31 e. Cost of goods sold for December before adjustments for under- or overallocated manufacturing overhead Bronco Company uses normal c follows: (Click the icon to view the de Read the requirements. Requirement 2. Use T-accounts (Click the icon to view the tre For direct labor and manufacturir Materials req. = Materials requisi tem. The company produces custom bikes for toddlers. The beginning balanc Closing entry COGM COGS Direct labor Indirect labor ansactions MOH allocated Materials req. n to view the additional information.) Additional information follows: a. Direct materials purchased during December were $65,500. b. Cost of goods manufactured for December was $226,000. c. No direct materials were returned to suppliers. d. No units were started or completed on December 31 and no direct materials were requisitioned on December 31. e. The manufacturing labor costs for the December 31 working day: direct manufacturing labor, $3,900, and indirect manufacturing labor, $1,000. f. Manufacturing overhead has been allocated at 150% of direct manufacturing labor costs through December 31. -Process account, enter the amounts for 12/30 and 12/31 separately to get t Jods manufactured; COGS = Cost of goods sold.) Data table Read the Data table Requirement 1. Prepare journal entries for the December 31 payroll. (Record debits first, then credits. Exclude explanations from any j Begin by preparing the journal entry to recognize indirect and direct payroll for the December 31 work day. Now prepare the journal entry to allocate manufacturing overhead. Requirement 2. Use T-accounts to compute the following transactions. (Click the icon to view the transactions.) More info Additional information follows: a. Direct materials purchased during December were $65,500. b. Cost of goods manufactured for December was $226,000. c. No direct materials were returned to suppliers. d. No units were started or completed on December 31 and no direct materials were requisitioned on December 31 . e. The manufacturing labor costs for the December 31 working day: direct manufacturing labor, $3,900, and indirect manufacturing labor, $1,000. f. Manufacturing overhead has been allocated at 150% of direct manufacturing labor costs through December 31. follows: (Click the icon to view the data.) (Click the icon to view the additional information.) Read the requirements. Requirement 2. Use T-accounts to compute the following transactions. (Click the icon to view the transactions.) Materials req. = Materials requisitioned; COGM= Cost of goods manufactured; COGS = Cost of goods sold.) Reference a. The total amount of materials requisitioned into work-in-process during December b. The total amount of direct manufacturing labor recorded in work-in-process during December (Hint: You have to solve requirements 2b and 2c simultaneously) c. The total amount of manufacturing overhead recorded in work-in-process during December d. Ending balance in work in process, December 31 e. Cost of goods sold for December before adjustments for under- or overallocated manufacturing overhead Bronco Company uses normal c follows: (Click the icon to view the de Read the requirements. Requirement 2. Use T-accounts (Click the icon to view the tre For direct labor and manufacturir Materials req. = Materials requisi tem. The company produces custom bikes for toddlers. The beginning balanc Closing entry COGM COGS Direct labor Indirect labor ansactions MOH allocated Materials req. n to view the additional information.) Additional information follows: a. Direct materials purchased during December were $65,500. b. Cost of goods manufactured for December was $226,000. c. No direct materials were returned to suppliers. d. No units were started or completed on December 31 and no direct materials were requisitioned on December 31. e. The manufacturing labor costs for the December 31 working day: direct manufacturing labor, $3,900, and indirect manufacturing labor, $1,000. f. Manufacturing overhead has been allocated at 150% of direct manufacturing labor costs through December 31. -Process account, enter the amounts for 12/30 and 12/31 separately to get t Jods manufactured; COGS = Cost of goods sold.) Data table