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(Solution Download) Consider the following transactions for Judy?s Sofas: (a) Incurr

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Consider the following transactions for Judy?s Sofas:
(a) Incurred and paid Web site expenses, $2,900.
(b) Incurred manufacturing wages of $15,000, 60% of which was direct labor and 40% of which was indirect labor.
(c)Purchased materials on account, $24,000.
(d) Used in production: direct materials, $9,500; indirect materials, $4,500.
(e) Recorded manufacturing overhead: depreciation on plant, $10,000; plant insurance, $1,300; plant property tax, $4,200 (credit Property tax payable).
(f) Allocated manufacturing overhead to jobs, 250% of direct labor costs.
(g) Completed production, $38,000.
(h) Sold inventory on account, $20,000; cost of goods sold, $10,000.
(i) Journalized the closing of the manufacturing overhead account.
Requirement
1. Journalize the transactions in Judy?s general journal.

 







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This question was answered on: Oct 24, 2017

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