Journalize the following transactions for Becah's Bakery:Becah's Bakerya. Incurred and paid Website expenses, $2,650.b. Incurred manufacturing wages of $9,800, of which 80% was for direct labor and 20% of which was for indirect labor.c. Purchased raw materials on account, $18,930.d. Used in production: direct materials, $7,980; indirect materials $3,600.e. Recorded manufacturing overhead: depreciation on plant, $14,740; plant insurance (previously paid), $1,430; plant property tax, $3,630 (credit Property Tax Payable).f. Allocated manufacturing overhead to jobs, 230% of direct labor costs.g. Completed production on jobs with costs of $35,980.h. Sold inventory on account, $25,110; cost of goods sold, $12,240.i. Adjusted for overallocated or underallocated overhead. b.C.d.e.f.g.h.h.i.CashWork-in-ProcessManufacturing OverheadWages PayableRaw Materials Inventory✓Accounts PayableWork-in-ProcessManufacturing OverheadRaw Materials InventoryManufacturing OverheadAccumulated Depreciation-Plant ✓Prepaid InsuranceProperty Tax PayableWork-in-ProcessManufacturing OverheadFinished Goods InventoryWork-in-ProcessAccounts ReceivableSales RevenueCost of Goods SoldFinished Goods InventoryCost of Goods SoldManufacturing OverheadManufacturing OverheadXXXXSubmit All Parts×7,840 ✓1,960✔18,930✔7,980✔3,600✔19,800✔18,032 X35,980✔25,110✔12,240 ✓7,328 X2,650 ✓9,800✔18,930✔11,580 ✓14,740 ✓1,430✔3,630✔18,032 X35,980✔25,110✔12,240 ✓7,328 X

A journal entry is a basic accounting record that is used to chronologically track financial…

Answered: Journalize the following transactions…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter2: Basic Managerial Accounting Concepts

Section: Chapter Questions

Problem 2MCQ: Product (or manufacturing) costs consist of a. direct materials, direct labor, and selling costs. b....

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Journalize the following transactions for Becah's Bakery:

Becah's Bakery

a. Incurred and paid Website expenses, $2,650.
b. Incurred manufacturing wages of $9,800, of which 80% was for direct labor and 20% of which was for indirect labor.
c. Purchased raw materials on account, $18,930.
d. Used in production: direct materials, $7,980; indirect materials $3,600.
e. Recorded manufacturing overhead: depreciation on plant, $14,740; plant insurance (previously paid), $1,430; plant property tax, $3,630 (credit Property Tax Payable).
f. Allocated manufacturing overhead to jobs, 230% of direct labor costs.
g. Completed production on jobs with costs of $35,980.
h. Sold inventory on account, $25,110; cost of goods sold, $12,240.
i. Adjusted for overallocated or underallocated overhead.

b.
C.
d.
e.
f.
g.
h.
h.
i.
Cash
Work-in-Process
Manufacturing Overhead
Wages Payable
Raw Materials Inventory
✓
Accounts Payable
Work-in-Process
Manufacturing Overhead
Raw Materials Inventory
Manufacturing Overhead
Accumulated Depreciation-Plant ✓
Prepaid Insurance
Property Tax Payable
Work-in-Process
Manufacturing Overhead
Finished Goods Inventory
Work-in-Process
Accounts Receivable
Sales Revenue
Cost of Goods Sold
Finished Goods Inventory
Cost of Goods Sold
Manufacturing Overhead
Manufacturing Overhead
X
X
X
X
Submit All Parts
×
7,840 ✓
1,960✔
18,930✔
7,980✔
3,600✔
19,800✔
18,032 X
35,980✔
25,110✔
12,240 ✓
7,328 X
2,650 ✓
9,800✔
18,930✔
11,580 ✓
14,740 ✓
1,430✔
3,630✔
18,032 X
35,980✔
25,110✔
12,240 ✓
7,328 X

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