Barker Products is a job shop. The following events occurred in September: 1. Purchased $15,000 of...

  

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Barker Products is a job shop. The following events occurred in September: 1. Purchased $15,000 of materials on account. 2. Issued $16,500 in direct materials to the production department. 3. Purchased $13,000 of materials on account. 4. Issued $1,000 of supplies from the materials inventory. 5. Paid for the materials purchased in transaction (1). 6. Paid $21,200 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing plant. 7. Incurred direct labor costs of $26,000, which were credited to Wages Payable. 8. Issued $1,400 of supplies from the materials inventory. 9. Applied overhead on the basis of 85 percent of $26,000 direct labor costs. 10. Recognized depreciation on manufacturing property, plant, and equipment of $13,600. The following balances appeared in the accounts of Barker Products for September: Beginning $ 37,700 6,300 38,000 Ending Materials Inventory Work-in-Process Inventory Finished Goods Inventory Cost of Goods Sold Required: a. Prepare journal entries to record the transactions. b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold. Required B ? 7 $ 33,500 62,100 Complete this question by entering your answers in the tabs below. Required A Prepare journal entries to record the transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Required A Required B Prepare journal entries to record the transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < A B C D E F G Purchased $15,000 of materials on account. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry H I Debit Credit View general journal > Module 6 Homework i 1 10 points eBook Print ច References Mc Graw Hill Beginning balance Ending balance Beginning balance Ending balance Beginning balance Ending balance Debit Debit Manufacturing Overhead Control Debit Materials Inventory Debit 0 0 Accounts Payable 0 Wages Payable Credit Credit Credit Credit < Prev Saved Beginning balance Ending balance Beginning balance Ending balance Beginning balance Ending balance 1 of 3 Debit Applied Manufacturing Overhead Debit Debit Work-in-Process Inventory Debit Cash Next > 0 Credit Finished Goods Credit Accumulated Depreciation Property, Plant, and Equipment Credit Help Credit Save & Exit Submit Check my work Barker Products is a job shop. The following events occurred in September: 1. Purchased $15,000 of materials on account. 2. Issued $16,500 in direct materials to the production department. 3. Purchased $13,000 of materials on account. 4. Issued $1,000 of supplies from the materials inventory. 5. Paid for the materials purchased in transaction (1). 6. Paid $21,200 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing plant. 7. Incurred direct labor costs of $26,000, which were credited to Wages Payable. 8. Issued $1,400 of supplies from the materials inventory. 9. Applied overhead on the basis of 85 percent of $26,000 direct labor costs. 10. Recognized depreciation on manufacturing property, plant, and equipment of $13,600. The following balances appeared in the accounts of Barker Products for September: Beginning $ 37,700 6,300 38,000 Ending Materials Inventory Work-in-Process Inventory Finished Goods Inventory Cost of Goods Sold Required: a. Prepare journal entries to record the transactions. b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold. Required B ? 7 $ 33,500 62,100 Complete this question by entering your answers in the tabs below. Required A Prepare journal entries to record the transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Required A Required B Prepare journal entries to record the transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < A B C D E F G Purchased $15,000 of materials on account. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry H I Debit Credit View general journal > Module 6 Homework i 1 10 points eBook Print ច References Mc Graw Hill Beginning balance Ending balance Beginning balance Ending balance Beginning balance Ending balance Debit Debit Manufacturing Overhead Control Debit Materials Inventory Debit 0 0 Accounts Payable 0 Wages Payable Credit Credit Credit Credit < Prev Saved Beginning balance Ending balance Beginning balance Ending balance Beginning balance Ending balance 1 of 3 Debit Applied Manufacturing Overhead Debit Debit Work-in-Process Inventory Debit Cash Next > 0 Credit Finished Goods Credit Accumulated Depreciation Property, Plant, and Equipment Credit Help Credit Save & Exit Submit Check my work

Answer rating: 100% (QA)

Here are the journal entries to record the transactions Transaction 1 Materials Inventory A 15000 Accounts Payable L 15000 To record the purchase of m... View the full answer