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Required information [The following information applies to the questions displayed below.] Bergamo Bay's computer system generated the following trial balance on December 31, 2019. The
Required information [The following information applies to the questions displayed below.] Bergamo Bay's computer system generated the following trial balance on December 31, 2019. The company's manager knows something is wrong with the trial balance because it does not show any balance for Work in Process Inventory but does show a balance for the Factory Overhead account. In addition, the accrued factory payroll (Factory Wages Payable) has not been recorded. Debit Credit Cash $170,000 Accounts receivable 75,000 Raw materials inventory 80,000 Work in process inventory 0 Finished goods inventory 15,000 Prepaid rent 3,000 Accounts payable $ 17,000 Notes payable 25,000 Common stock 50,000 Retained earnings 271,000 Sales 373,000 Cost of goods sold Factory overhead i Operating expenses Totals 218,000 115,000 60,000 $736,000 $736,000 After examining various files, the manager identifies the following six source documents that need to be processed to bring the accounting records up to date. Materials requisition 21-30101 Materials requisition 21-30111 Materials requisition 21-30121 Labor tine ticket 6052 Labor time ticket 6053 Tahor time ticket 6054 $10,200 direct materials to Job 402 $18,600 direct materials to Job 404 $5,600 indirect materials $36,000 direct labor to Job 402 $23,000 direct labor to Job 4041 S.200 indirect labor Materials requisition 21-3010: Materials requisition 21-3011: Materials requisition 21-30121 Labor time ticket 6052: Labor time ticket 6053: Labor time ticket 6054: $10,200 direct materials to Job 402 $18,600 direct materials to Job 404 $ 5,600 indirect materials $36,000 direct labor to Job 402 $23,800 direct labor to Job 404 $ 8,200 indirect labor Jobs 402 and 404 are the only units in process at year-end. The predetermined overhead rate is 200% of direct labor cost. a. Direct materials costs to Work in Process Inventory. b. Direct labor costs to Work in Process Inventory. c. Overhead costs to Work in Process Inventory. d. Indirect materials costs to the Factory Overhead account. e. Indirect labor costs to the Factory Overhead account. Required: 1. Prepare journal entries to assign the above costs. No Transaction O Answer is not complete. General Journal Debit Credit 1 a. Work in process inventory 28,800 Raw materials inventory 28,800 Required: 1. Prepare journal entries to assign the above costs. Answer is not complete. No Transaction General Journal Debit Credit 1 Work in process inventory Raw materials inventory 28,800 28,800 2 b. 3 C. Work in process inventory Factory wages payable Work in process inventory Factory overhead 00 59,800 59,800 55.200 55,200 es 1. Prepare journal entries to assign the above costs. View transaction list Journal entry worksheet 1 2 3 4 5 Record the entry to allocate overhead to Jobs 402 and 404. Note: Enter debits before credits. Transaction General Journal Debit Credit C. Work in process inventory 55,200 Factory overhead 55,200 Record entry Clear entry View general journal
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