1.
Transaction | General Journal | Debit | Credit |
$ | $ | ||
a. | Work in Process Inventory | 12,200 | |
Raw Materials Inventory | 12,200 | ||
b. | Work in Process Inventory | 20,000 | |
Factory Wages Payable | 20,000 | ||
c. | Work in Process Inventory | 20,000 | |
Factory Overhead | 20,000 | ||
d. | Factory Overhead | 2,300 | |
Raw Materials Inventory | 2,300 | ||
e. | Factory Overhead | 5,000 | |
Factory Wages Payable | 5,000 |
2.a. :
Revised Factory Overhead Account | |||
Unadjusted bal. | 27,000 | ||
d. | 2,300 | ||
e. | 5,000 | ||
c. | 20,000 | ||
14,300 Dr. |
2.b.
Date | General Journal | Debit | Credit |
December 31, 2019 | Cost of Goods Sold | 14,300 | |
Factory Overhead | 14,300 |
3.
Revised Trial Balance | ||
Account Titles | Debit | Credit |
$ | $ | |
Cash | 68,000 | |
Accounts Receivable | 37,000 | |
Raw Materials Inventory | 9,000 | |
Work in Process Inventory | 52,200 | |
Finished Goods Inventory | 12,000 | |
Prepaid Rent | 4,000 | |
Accounts Payable | 11,400 | |
Factory Wages Payable | 25,000 | |
Notes Payable | 14,400 | |
Common Stock | 40,000 | |
Retained Earnings | 76,000 | |
Sales | 173,700 | |
Cost of Goods Sold | 118,300 | |
Operating Expenses | 40,000 | |
Totals | $ 340,500 | $ 340,500 |
O B newconnectmheducation.com/flow/connect Chapter 15 Homework Help Save & Exh Submit Check my work U ....
Direct materials costs to Work in Process Inventory. Direct labor costs to Work in Process Inventory. Overhead costs to Work in Process Inventory. Indirect materials costs to the Factory Overhead account. Indirect labor costs to the Factory Overhead account. Required: Prepare journal entries to assign the above costs. Required information Problem 2-2A Source documents, journal entries, overhead, and financial reports LO P1, P2, P3, P4 The following information applies to the questions displayed below.) Bergamo Bay's computer system generated the...
Bergamo Bay's computer system generated the following trial balance on December 31, 2017. 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 Payroll Payable) has not been recorded. Debit Credit Cash $ 62,000 Accounts receivable 36,000 Raw materials inventory 23,000 Work in process inventory 0 Finished goods inventory 12,000...
Bergamo Bay's computer system generated the following trial balance on December 31, 2017. 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 Payroll Payable) has not been recorded. Debit Credit Cash $ 66,000 Accounts receivable 41,000 Raw materials inventory 25,500 Work in process inventory 0 Finished goods inventory 9,000...
Bergamo Bay's computer system generated the following trial balance on December 31, 2017. 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 Payroll Payable) has not been recorded. Debit Credit Cash $ 66,000 Accounts receivable 41,000 Raw materials inventory 25,500 Work in process inventory 0 Finished goods inventory 9,000...
Required information Problem 2-2A Source documents, journal entries, overhead, and financial reports LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Bergamo Bay's computer system generated the following trial balance on December 31, 2017. 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 Payroll...
Requiem un Problem 15-2A Source documents, journal entries, overhead, and financial reports LO P1, P2, P3, P4 (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...
Question 3 (13 marks) Bergamo Bay Co. uses enterprise resource planning (ERP) system to combine the business activities with accounting activities. ERP system provides an integrated and continuously updated view of core business processes. The system can track business resources, i.e. cash, raw materials, etc., and shares data across various departments (manufacturing, purchasing, sales, accounting, etc.), and various stakeholders of the company. The system also can provide timely information and report to variable users within the company. On December 31,...
7 Wow Wo worrappres 20e questOTYS Ursprayeu DevOW. 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. Credit Cash Debit $ 70,000 39,000 24,500 12,000 4,000 Accounts receivable Raw materials...
S. Homework Saved Help Save & Exit Submit Check my work s one job in process (Job 120) as of June 30; at that time, its job cost sheet reports direct materials of $6,20o, applied overhead of $3.400. Custom Cabinetry applies overhead at the rate of 85% of direct labor cost direct labor of $4,000, and During July, Job 120 is sold (o the end of the month. Custom Cabinetry incurs the following costs during July. n account) for $26,500,...
Chapter 1 Homework Seved Help Save & Exit Submit Check my work 8 Problem 1-2A Classifying costs LO C2, C3 The following calendar year-end Information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company 4 points cock Print Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Pactory supplies used Factory utilities Indirect Miscellaneous production costs office salaries expense Raw materials purchases. Rent expense-office space Rent expense-selling space Maintenance...