Answered step by step
Verified Expert Solution
Question
1 Approved Answer
This Question: 1 pt 10 of 13 (3 complete) Journalize the following transactions for Brooke's Seats. Explanations are not required. (Click the icon to view
This Question: 1 pt 10 of 13 (3 complete) Journalize the following transactions for Brooke's Seats. Explanations are not required. (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from any journal entries.) a. Incurred and paid Web site expenses, $2,600 More Info Date Accounts Debit Credit a. b. Incurred manufacturing wages of $18,000, 60% of which was direct labor and 40% of which was indirect labor. a. Incurred and paid Web site expenses, $2,600 b. Incurred manufacturing wages of $18,000, 60% of which was direct labor and 40% of which was indirect labor. c. Purchased raw materials on account, $22,000. d. Used in production: direct materials, $9,500; indirect materials, $2,500. e. Recorded manufacturing overhead: depreciation on plant, $15,000; plant insurance (previously paid), S1,600; plant property tax, $4,400 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 170% of direct labor costs. g. Completed production on jobs with costs of $38,000 h. Sold inventory on account, $26,000; cost of goods sold, S16,000. i. Adjusted for overallocated or underallocated overhead. Date Accounts Debit Credit b. c. Purchased raw materials on account, $22,000 Print Done Date Accounts Debit Credit C. d. Used in production direct materials, $9,500; indirect materials, $2,500. Date Accounts Debit Credit d. Choose from any list or enter any number in the input fields and then continue to the next question. This Question: 1 pt 10 of 13 (3 complete) Journalize the following transactions for Brooke's Seats. Explanations are not required. (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from any journal entries.) e. Recorded manufacturing overhead depreciation on plant, $15,000; plant insurance (previously paid). $1,600; plant property tax, $4,400 (credit Property Tax Payable). (Prepare a compound entry.) Date Accounts Debit Credit e. f. Allocated manufacturing overhead to jobs, 170% of direct labor costs. Date Accounts Debit Credit X More Info f. g. Completed production on jobs with costs of $38,000 Date Accounts Debit Credit a. Incurred and paid Web site expenses, $2,600. b. Incurred manufacturing wages of $18,000, 60% of which was direct labor and 40% of which was indirect labor. c. Purchased raw materials on account, $22,000. d. Used production direct materials, $9,500; indirect materials, $2,500. e. Recorded manufacturing overhead: depreciation on plant, $15,000; plant insurance (previously paid), $1,600; plant property tax, 54,400 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 170% of direct labor costs. g. Completed production on jobs with costs of $38,000. h. Sold inventory on account, $26,000; cost of goods sold, $16,000. i. Adjusted for overallocated or underallocated overhead. g. Print Done h. Sold inventory on account, $26,000, cost of goods sold, $16,000. Begin by recording the revenue from the sales on account. Do not record the expense related to the sale in this journal entry. Date Accounts Debit Credit h. Now record the expense related to the sale Date Accounts Debit Credit h. Choose from any list or enter any number in the input fields and then continue to the next question. Begin by recording the revenue from the sales on account. Do not record the expense related to the sale in this journal entry. Date Accounts Debit Credit h. b. Incurred manufacturing wages of $18,000, 60% of which was direct labor and 40% of which was indirect labor. C. Purchased raw materials on account, $22,000. d. Used in production: direct materials, $9,500; indirect materials, $2,500. e. Recorded manufacturing overhead: depreciation on plant, $15,000; plant insurance (previously paid), $1,600; plant property $4,400 (credit Property Tax Payable) f. Allocated manufacturing overhead to jobs, 170% of direct labor costs. g. Completed production on jobs with costs of $38,000 h. Sold inventory on account, $26,000; cost of goods sold, S16,000 i. Adjusted for overallocated or underallocated overhead. Now record the expense related to the sale. Date Accounts Debit Credit Print Done h. i. Adjusted for overallocated or underallocated overhead. Date Accounts Debit Credit i. Accounts Payable Accounts Receivable Accumulated Depreciation-Plant Cash Cost of Goods Sold Finished Goods Inventory Manufacturing Overhead Prepaid Insurance Property Tax Payable Raw Materials Inventory Sales Revenue Wages Payable Website Expenses Work-in-Process Inventory
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