C4Q5 Need Prepare journal entries for the December 31 payroll. 2. Use​ T-accounts to compute the​ following: a. The total amount of materials requisitioned into​

Academic Writing accounting, business-managerial-accounting C4Q5 Need Prepare journal entries for the December 31 payroll. 2. Use​ T-accounts to compute the​ following: a. The total amount of materials requisitioned into​

accounting, business-managerial-accounting

C4Q5 Need Prepare journal entries for the December 31 payroll. 2. Use​ T-accounts to compute the​ following: a. The total amount of materials requisitioned into​

C4Q5 Need Prepare journal entries for the December 31 payroll. 2. Use​ T-accounts to compute the​ following: 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 overallocated manufacturing overhead is closed directly to Cost of Goods Sold. Transcribed Image Text: Bram Company uses normal costing in its job-costing system. The company produces custom bikes for toddlers. The beginning balances (December 1) and ending balances (as of December 30) in their inventory
accounts are as follows:
E (Click the icon to view the data.)
i (Click the icon to view the additional information.)
Read the requirements.
Requirement 1. Prepare journal entries for the December 31 payroll. (Record debits first, then credits. Exclude explanations from any journal entries.)
Begin by preparing the journal entry to recognize indirect and direct payroll for the December 31 work day.
Journal Entry
Accounts
Debit
Credit
(1a) Transcribed Image Text: More Info
Data Table
rom a
Additional information follows:
Ending Balance
12/30
Beginning
а.
Direct materials purchased during December were $66,400.
Balance 12/1
b.
Cost of goods manufactured for December was $235,000.
Materials Control
2,200
8,600
с.
No direct materials were returned to suppliers.
Work-in-Process Control
6,800
9,100
d.
No units were started or completed on December 31 and no direct materials
Manufacturing Department Overhead
Control
were requisitioned on December 31.
94,500
The manufacturing labor costs for the December 31 working day: direct
manufacturing labor, $4,350, and indirect manufacturing labor, $1,450.
е.
Finished Goods Control
4,500
19,500
f.
Manufacturing overhead has been allocated at 140% of direct
manufacturing labor costs through December 31.
Print
Done
Print
Done

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