3. Which method do you prefer in require system. The company produces custom bikes for toddlers....

 

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3. Which method do you prefer in require system. The company produces custom bikes for toddlers. The beginning balances (December 1) and end- 4-43 Overview of general ledger relationships. Brane Company uses normal costing in its job-costing ing balances (as of December 30) in their inventory accounts are as follows: Materials Control Work-in-Process Control Beginning Balance 12/1 Ending Balance 12/30 Tbstolonas ba$2,200 daoo-doja ni $ 8,600 10000 6,800 20 18 00 9,100 how as follows 94,500 Manufacturing Department Overhead Control 4,500 leno3 alsh Finished Goods Control 19,500 i Additional information: 000.0 a. Direct materials purchased during December were $66,400.dl b. Cost of goods manufactured for December was $235,000. c. No direct materials were returned to suppliers. d. No units were started or completed on December 31 and no direct materials were requisitioned on December 31. e. The manufacturing labor costs for the December 31 working day: direct manufacturing labor, $4,350, and indirect manufacturing labor, $1,450. f. Manufacturing overhead has been allocated at 140% of direct manufacturing labor costs through December 31. 1. Prepare journal entries for the December 31 payroll. 2. Use T-accounts to compute the following: BBW JEW a. The total amount of materials requisitioned into work in process during December b. The total amount of direct manufacturing labor recorded in work in process during December (Hint: You have to solve requirements 2b and 2c simultaneously) c. The total amount of manufacturing overhead recorded in work in process during December d. Ending balance in work in process, December 31 e. Cost of goods sold for December before adjustments for under- or overallocated manufacturing overhead 3. Prepare closing journal entries related to manufacturing overhead. Assume that all under- or overal- located manufacturing overhead is closed directly to Cost of Goods Sold 3. Which method do you prefer in require system. The company produces custom bikes for toddlers. The beginning balances (December 1) and end- 4-43 Overview of general ledger relationships. Brane Company uses normal costing in its job-costing ing balances (as of December 30) in their inventory accounts are as follows: Materials Control Work-in-Process Control Beginning Balance 12/1 Ending Balance 12/30 Tbstolonas ba$2,200 daoo-doja ni $ 8,600 10000 6,800 20 18 00 9,100 how as follows 94,500 Manufacturing Department Overhead Control 4,500 leno3 alsh Finished Goods Control 19,500 i Additional information: 000.0 a. Direct materials purchased during December were $66,400.dl b. Cost of goods manufactured for December was $235,000. c. No direct materials were returned to suppliers. d. No units were started or completed on December 31 and no direct materials were requisitioned on December 31. e. The manufacturing labor costs for the December 31 working day: direct manufacturing labor, $4,350, and indirect manufacturing labor, $1,450. f. Manufacturing overhead has been allocated at 140% of direct manufacturing labor costs through December 31. 1. Prepare journal entries for the December 31 payroll. 2. Use T-accounts to compute the following: BBW JEW a. The total amount of materials requisitioned into work in process during December b. The total amount of direct manufacturing labor recorded in work in process during December (Hint: You have to solve requirements 2b and 2c simultaneously) c. The total amount of manufacturing overhead recorded in work in process during December d. Ending balance in work in process, December 31 e. Cost of goods sold for December before adjustments for under- or overallocated manufacturing overhead 3. Prepare closing journal entries related to manufacturing overhead. Assume that all under- or overal- located manufacturing overhead is closed directly to Cost of Goods Sold

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Brane Company Job Costing Entries December 1 Journal Entries for December 31 Payroll a Direct Manufa... View the full answer