Select your language

Suggested languages for you:
Log In Start studying!
Answers without the blur. Just sign up for free and you're in → Illustration

24E-f

Expert-verified
Horngren'S Financial And Managerial Accounting
Found in: Page 945

Short Answer

Question: Journalize the following transactions for Marge’s Sofas. Explanations are not required.

f. Allocated manufacturing overhead to jobs, 200% of direct labor costs.

Date

Particulars

Debit ($)

Credit ($)

Work-in-process inventory (200% of 11,250)

22,500

Manufacturing overhead

22,500

See the step by step solution

Step by Step Solution

Step-by-Step Solution:Step 1: Work-in-process inventory

Work in process inventory means the inventory that are partially completed and partially not. The inventory under manufacturing process is known as WIP inventory.

Step 2: Recording of allocated manufacturing overhead in the books of the company

The allocated manufacturing overhead is recorded by debiting the work in process inventory and crediting the manufacturing overhead account.

Recommended explanations on Business-studies Textbooks

94% of StudySmarter users get better grades.

Sign up for free
94% of StudySmarter users get better grades.