Tight Pants, Inc. manufactures Lingerie and specializes in tight underwear. Amy Awesome is the new CFO...

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Tight Pants, Inc. manufactures Lingerie and specializes in tight underwear. Amy Awesome is the new CFO and chief accountant for the company. She is responsible for all joumal entries and ledger accounts. Unfortunately, she has no idea what she is doing and needs your help. Consider the following transactions for Hoochie Mama, Inc.: 1 2 3 4 10 5 6 7 8 9 10 Purchase of materials for cash Incurred Wages for factory seamstresses Incurred Wages for factory supervisor Used in Production - Cloth Used in Production - Thread Incurred certain costs: Factory Deprecation Factory Insurance Factory Property Taxes Allocation of Overhead to Jobs at 120% of Direct Labor Costs Completion of Production Sold Completed Units worth Received for those 40,000 worth of units Closed out Overhead for the year Paid Cash for Web site expenses 90,000 36,000 6,000 67,000 3,000 24,500 2,500 6,000 ? 100,000 90,000 175,000 ? 15,000 Use the Space provided on the next two pages for journal entries!! Do Not worry about dates or descriptions for the journal entries Work In Process Overhead Tight Pants, Inc. manufactures Lingerie and specializes in tight underwear. Amy Awesome is the new CFO and chief accountant for the company. She is responsible for all joumal entries and ledger accounts. Unfortunately, she has no idea what she is doing and needs your help. Consider the following transactions for Hoochie Mama, Inc.: 1 2 3 4 10 5 6 7 8 9 10 Purchase of materials for cash Incurred Wages for factory seamstresses Incurred Wages for factory supervisor Used in Production - Cloth Used in Production - Thread Incurred certain costs: Factory Deprecation Factory Insurance Factory Property Taxes Allocation of Overhead to Jobs at 120% of Direct Labor Costs Completion of Production Sold Completed Units worth Received for those 40,000 worth of units Closed out Overhead for the year Paid Cash for Web site expenses 90,000 36,000 6,000 67,000 3,000 24,500 2,500 6,000 ? 100,000 90,000 175,000 ? 15,000 Use the Space provided on the next two pages for journal entries!! Do Not worry about dates or descriptions for the journal entries Work In Process Overhead

Answer rating: 100% (QA)

ANSWER Here are the journal entries for the transactions you provided 1 Purchase of materials for ca... View the full answer