Question: if you can answer partial that will still help SkippyScooters manufactures motor scooters. The company has automated production, so to narutacturing overhead based on machine

 if you can answer partial that will still help SkippyScooters manufactures
motor scooters. The company has automated production, so to narutacturing overhead based
on machine hours to expects to incur $240.000 of manufacturing overhead costs
and to use 4.000 machine hour during 2024. At the end of
2023, Skippy reported the following inventore Click the icon to view the
inventores) During w2024. Skopyalayed 300 machine to wd recorded a town in
Click the icon to view the action) Read the routes Requirement 1.
Compta kepa predetermined ovutid (OH) octorate for a Data table viverry Fished
on your Payet Wege Payetle 120.000 Requirement 2. Jourrate the transactions in
Pewel joumal Use the following Revenue, Marchaning Overhead and out of Goods
sold fecond dat a. Purchased mat on account. 131,000 Date Accounts he
if you can answer partial that will still help

SkippyScooters manufactures motor scooters. The company has automated production, so to narutacturing overhead based on machine hours to expects to incur $240.000 of manufacturing overhead costs and to use 4.000 machine hour during 2024. At the end of 2023, Skippy reported the following inventore Click the icon to view the inventores) During w2024. Skopyalayed 300 machine to wd recorded a town in Click the icon to view the action) Read the routes Requirement 1. Compta kepa predetermined ovutid (OH) octorate for a Data table viverry Fished on your Payet Wege Payetle 120.000 Requirement 2. Jourrate the transactions in Pewel joumal Use the following Revenue, Marchaning Overhead and out of Goods sold fecond dat a. Purchased mat on account. 131,000 Date Accounts he Materiale inventory Work in process inventory Finished Goods Inventory 11.000 la) Print Done b. Used direct materials. 599.000 Debit Credit Date Accounts (D) Read the requirements - X More info ned overhead (OH) allod Bhed Goods Inventory, Accounts Payable, Wages Pay the general journal. Use of Goods Sold. (Record a. Purchased materials on account, $31.000 b. Used direct materials, $39,000 C. Incurred manufacturing wages that totaled $40,000, of which 90% was direct labor and 10% was indirect labor d. Used Indirect materials, $3.000 e. Incurred other manufacturing overhead on account, $13,000 f. Allocated manufacturing overhead for January 2024 9. Completed motor scooters with a cost of $100,000 h. Sold scooters on account. $175,000; cost of scooters sold, 595,000 counts Print Done counts Requirement 1. Compute Sopredetermined overhead (OH) location rate for 2024 Prodam Osation rate Requirement 2. Journal he transactions in the general joumal Use the following account Account Receive Raw Materials inventory Work in Process inventory. Fred Goods Inwertery Accounts Payable. We Payti Revenue Manutacturing Overhead and cost of Goods Sold Records, then rets. Exclude explains from anyone Purchased materials on account, 531,000 Date Accounts Debit Credit ) Used direct materials, 339.000 Date Accounts Debit Credit Time Limit:1000 Next c. Incurred manufacturing wages that totaled $40,000, of which 90% was direct labor and 10% was indirect labor Date Accounts Debit Credit (c) d. Used indirect materials, $3,000 Date Accounts Debit Credit (d) e. Incurred other manufacturing overhead on account. $13,000 Date Accounts Debit Credit (a) e. Incurred other manufacturing overhead on account $13,000 Date Accounts Debit Credit (e) 1. Allocated manufacturing overhead for January 2024 Date Accounts Debit Credit 00 g. Completed motor scooters with a cost of $100,000 Date Accounts Debit Credit (9) g. Completed motor scooters with a cost of $100,000 Date Accounts Debit Credit (9) h. Sold scooters on account. $175,000; cost of scooters sold. $95.000 Start by preparing the entry to Joumalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step Date Accounts Debit Credit ch) Now journalize the expense related to the sales. Date Accounts Debit Credit (h) CH Now journalize the expense related to the sales Date Accounts th Debit Credit Requirement. The Taccounts for the accounts listed in Requirement 2 have been set up for you along with the beginning balances for the inventory accounts. Assume the remaining accounts have a beginning balance of transactions to the accounts and determine the ending balance Kay each transaction by transaction letter and calculate the ending balance of each account. Label the ending balances with Bal. Review the joumal entries you propared in Requirement Accounts Receivable Accounts Payable Raw Materials Inventory Wage Payable Time Limit: 011 RUVUNJUUS YUU YA Accounts Receivable Accounts Payable Raw Materials Inventory 20,000 Wage Payable Bal Sales Revenue Work-in-Process Inventory 17,000 Bal Sales Revenue Work In Process Inventory 17,000 Bal Finished Goods Inventory Manufacturing Overhead Bar 11,000 Cost of Goods Sold Requirement 4. Prepare the journal entry to adjust Manufacturing Overhead for the overallocated or underallocated overhead Post your entry to the T-accounts. Read the CHO Requirement 4. Prepare the journal entry to adjust Manufacturing Overhead for the overaller under located overhead Post your entry to the accounts Begin by Journalising the adjustment for the ovocited or underwocated overhead. Dato Accounts Debit Credit Now post your entry to the T-scounts. Enter the account balances prior to the adjustment "Bthen way the adjustment and collate the ending balance in. Bl." of each account or account we are stanica, urtar- "Eind. Bol reference on the normal side of the account) Manufacturing Overhead Cost of Goods Sold Time Umit 01.10.00 aucung overhead coats and to use 600 machine hours during 2024. At the end of 2023, Skippy reported the following inventor Click the icon to view the inventor Click then to view the action Read out Now post your entry to the accounts Enter the account balances prior to the adjustment Barthen kay the adjustment and call the ending balaca 'End. Bol of each account for constater blanc End. Balence on the normale of the Taccount) Manufacturing Overhead Cost of Goods Sold Requirements. What are the ending balances in the three twentory accounts and in Cost of Goods Sold? Review the T-accounts from Requirement Review the accounts from Requirement Raw Materials Inventory from Requirement) Work in Process Inventory from Requirements) Finished Goods inventory (from Requirement 3) Cost of Goods Sold (From Requirement 4) Time Limit: 01.10.00

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