Mead Bay’s computer system generated the following trial balance on December 31, 2009.

Mead Bay’s computer system generated the following trial balance on December 31, 2009. The company’s manager knows something is wrong with the trial balance because it does not show any balance for Goods in Process Inventory but does show balances for the Factory Payroll and Factory Overhead accounts.Debit Credit Cash $40,000 Accounts receivable 34,000 Raw materials inventory 22,000 Goods in process inventory 0 Finished goods inventory 12,000 Prepaid rent 4,000 Accounts payable $8,500 Notes payable 11,500 Common stock 40,000 Retained earnings 84,000 Sales 178,000 Cost of goods sold 112,000 Factory payroll 18,000 Factory overhead 26,000 Operating expenses 54,000 Totals $322,000 $322,000 ——————————————————————————–After examining various files, the manager identifies the following six source documents that need to be processed to bring the accounting records up to date.Materials requisition 21-3010: $4,100 direct materials to Job 402 Materials requisition 21-3011: $7,100 direct materials to Job 404 Materials requisition 21-3012: $2,400 indirect materials Labor time ticket 6052: $2,000 direct labor to Job 402 Labor time ticket 6053: $15,000 direct labor to Job 404 Labor time ticket 6054: $1,000 indirect labor ——————————————————————————–Jobs 402 and 404 are the only units in process at year-end. The predetermined overhead rate is 150% of direct labor cost.ReferencesSection Break Problem 2-2A: Source documents, journal entries, overhead, and financial reports L.O. P1, P2, P3, P4 15.value:1 points Problem 2-2A Requirement 1 (a)-(e)Required: 1. Use information on the six source documents to prepare journal entries to assign the following costs. (Omit the “$” sign in your response.)(a) Direct materials costs to Goods in Process Inventory. Date General Journal Debit Credit Dec. 31 (Click to select)CashGoods in Process InventoryRaw Materials InventoryDirect MaterialsFactory Payroll (Click to select)Factory OverheadCashGoods in Process InventoryStockRaw Materials Inventory ——————————————————————————–(b) Direct labor costs to Goods in Process Inventory. Date General Journal Debit Credit Dec. 31 (Click to select)StockRaw Materials InventoryGoods in Process InventoryDirect LaborFactory Payroll (Click to select)StockPrepaid Factory PayrollFactory PayrollFactory OverheadGoods in Process Inventory ——————————————————————————–(c) Overhead costs to Goods in Process Inventory. Date General Journal Debit Credit Dec. 31 (Click to select)Factory OverheadGoods in Process InventoryRaw Material InventoryCashFactory Payroll (Click to select)Factory PayrollFactory OverheadCashGoods in Process InventoryStock ——————————————————————————–(d) Indirect materials costs to the Factory Overhead account. Date General Journal Debit Credit Dec. 31 (Click to select)StockIndirect MaterialsRaw Materials InventoryGoods in Process InventoryFactory Overhead (Click to select)Goods in Process InventoryCashFactory PayrollFactory OverheadRaw Materials Inventory ——————————————————————————–(e) Indirect labor costs to the Factory Overhead account. Date General Journal Debit Credit Dec. 31 (Click to select)StockPrepaid Factory PayrollFactory OverheadFactory PayrollIndirect Labor (Click to select)Factory PayrollRaw Material InventoryCashStockFactory Overhead

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