Question

please answer both questions

More Info a. Incurred and paid Web site expenses, $2,300. b. Incurred manufacturing wages of $10,000, 65% of which was direct labor and 35% of which was indirect labor. c. Purchased raw materials on account, $19,000 d. Used in production: direct materials, $8,000; indirect materials, $3,500 e. Recorded manufacturing overhead: depreciation on plant, $17,000; plant insurance (previously paid), $1,600; plant property tax, $3,700 (credit Property Tax Payable) f. Allocated manufacturing overhead to jobs, 150% of direct labor costs g. Completed production on jobs with costs of $32,000. h. Sold inventory on account, $26,000; cost of goods sold, $14,000. i. Adjusted for overallocated or underallocated overhead. Print Done

Answer 1

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Event	Account	Debit	Credit
a	Web site Expense	$                                                                         2,300
	Cash		$       2,300
b	Work in process inventory	$                                                                         6,500
	Manufacturing overheads	$                                                                         3,500
	Wages Payable		$     10,000
c	Raw Material inventory	$                                                                      19,000
	Accounts Payable		$     19,000
d	Work in process inventory	$                                                                         8,000
	Manufacturing overheads	$                                                                         3,500
	Raw material inventory		$     11,500
e	Manufacturing overheads	$                                                                      22,300
	Accumulated Depreciation		$     17,000
	Prepaid Insurance		$       1,600
	Property Tax payable		$       3,700
f	Work in process inventory	$                                                                         9,750
	Manufacturing overheads		$       9,750
	($6,500*150%)
g	Finished Goods Inventory	$                                                                      32,000
	Work in process inventory		$     32,000
h	Accounts Receivable	$                                                                      26,000
	Sale		$     26,000
	Cost of Goods Sold	$                                                                      14,000
	Finished Goods inventory		$     14,000
i	Cost of Goods Sold	$                                                                      19,550
	Manfacturing overheads		$     19,550
	Applied Overheads		$       9,750
	Actual Overheads:
	Indirect Labor	$                                                                         3,500
	Indirect Material	$                                                                         3,500
	Depreciation	$                                                                      17,000
	Insurance	$                                                                         1,600
	Property Tax	$                                                                         3,700
	Total Actual Overheads		$     29,300
	Underapplied overheads		$ (19,550)
	Inventory Purchased		$     27,000
	Less: Ending Balance		$     (2,000)
	a & b		$     25,000
	c	From Work in process	$     32,000
	d	Balance from Cost of Goods Sold	$     30,000
		$35,700-$5.700
	e	From work in process	$       4,500
	f	Balance of Manufacturing overhead	$       5,700
	g	From Finished Goods=d	$     30,000