Journalize the Following Transactions for Malone Custom Furniture Manufacturing (Omit

question 137

Essay

Journalize the following transactions for Malone Custom Furniture Manufacturing (omit explanations):
a.Incurred and paid advertising expenses,$3,500.
b.Incurred manufacturing wages of $30,000,60% of which was direct labor and 40% of which was indirect labor.Wages will be paid at a later date.
c.Purchased raw materials on account,$27,000.
d.Used in production: direct materials,$12,000; indirect materials,$5,500
e.Recorded manufacturing overhead: depreciation on plant,$14,000; plant insurance (previously paid),$1,800; plant property tax,$4,500 (credit Property Tax Payable).
f.Allocated manufacturing overhead to jobs,150% of direct labor costs.
g.Completed production on jobs with costs of $55,000.
h.Sold inventory on account,$64,000; cost of goods sold,$35,000.The company uses the perpetual inventory system.
i.Adjusted for overallocated or underallocated overhead.

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Definitions:

Affect Displays

Nonverbal behaviors that communicate emotions.

Cognitive

Pertaining to the mental processes involved in gaining knowledge and comprehension, including thinking, knowing, remembering, and judging.

Nonverbal Behavior

Communication without words, including gestures, facial expressions, body language, and other forms of expressing oneself without verbal language.

Monitoring

The ongoing process of observing and checking the progress or quality of something over a period of time.