Question

wemo Inc. sells video games and use normal job costing to track costs. During 2018, Beemo Inc. had the transactions: Purchased $555,000 of materials on credit 5624,300 of materials were used, with 5520.400 being direct materials and the rest indirect material 546,000 was paid to direct labor and $88,000 was paid to indirect labor d. During the year, 599,900 worth of other indirect costs were incurred of which 59.500 came from depreciation 42.980 direct labor hours were worked over the year. The budeated MOH rate was calculated to be 57 per $1,267,470 worth of goods were completed during the year. $1,524,550 worth of goods were sold during the year. Using this information please the Journal Entries for all the given transactions from 2018 Account A) materials | Debit credit Accants ayant 8555,000 - WIP 556.000 manufacturing OH 520.400 103,900 moleriais Factory Day N134,300 & 634.000 $634,000 WIP $545.000 FOCI PONYOL) 35H6.000 manufacturing OH $68,000 Factory paw voil manufacturing A 199,900 OSCO e Barang. Acadere $99,900 manufacturing OH $9.500 Acamxated acpredation WIP 1300860 manufac. OH (42980x7) $300,800 Finished Goods 1267,410 WIP $1,267,470 I cost of coods sold Soid .bauho Finished Goods $1,584,550 E

Answer 1

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Question 6

Raw material control

Work in process control

Finished Goods inventory Control

Debit

Credit

Debit

Credit

Debit

Credit

Beginning balance

$       470,300

b

$   624,300

Beginning balance

$       133,800

f

$   1,267,470

Beginning balance

$       367,000

g

$   1,524,550

a

$       555,000

b

$       520,400

f

$   1,267,470

c

$       546,000

e

$       300,860

Ending Balance (a)

$       401,000

Ending Balance (b)

$       233,590

Ending Balance '©

$       109,920

Manufacturing overhead control

Debit

Credit

b

$       103,900

e

$   300,860

c

$         88,000

d

$         99,900

$        9,060

d and e

Overapplied overheads

$        9,060

Question No 7

Manufacturing overhead control

Debit

Credit

b

$       103,900

e

$   300,860

c

$         88,000

d

$         99,900

Cost of Goods Sold

$            9,060

$               -

Debit

Credit

Manufacturing overheads

$            9,060

Cost of Goods Sold

$                                 9,060