C4Q5Need helpPrepare 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 Decemberb.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 Decemberd.Ending balance in work-in-process, December 31e.Cost of goods sold for December before adjustments for under- or overallocated manufacturing overhead3.Prepare closing journal entries related to manufacturing overhead. Assume that all under- or overallocated manufacturing overhead is closed directly to Cost of Goods Sold. 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 inventoryaccounts 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 EntryAccountsDebitCredit(1a) More InfoData Tablerom aAdditional information follows:Ending Balance12/30Beginningа.Direct materials purchased during December were $66,400.Balance 12/1b.Cost of goods manufactured for December was $235,000.Materials Control2,2008,600с.No direct materials were returned to suppliers.Work-in-Process Control6,8009,100d.No units were started or completed on December 31 and no direct materialsManufacturing Department OverheadControlwere requisitioned on December 31.94,500The manufacturing labor costs for the December 31 working day: directmanufacturing labor, $4,350, and indirect manufacturing labor, $1,450.е.Finished Goods Control4,50019,500f.Manufacturing overhead has been allocated at 140% of directmanufacturing labor costs through December 31.PrintDonePrintDone

Name: C4Q5Need helpPrepare journal entries for the December 31 payroll.2.Use
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Description: C4Q5Need helpPrepare 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 Decemberb.The total amount of direct manufacturing labor recorded

Payroll Accounting - In Accounting, the term payroll signifies the amount that has been paid out to…

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Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter2: Accounting For Materials

Section: Chapter Questions

Problem 8P

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C4Q5

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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.

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)

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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