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

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

Short Answer

Expert verified

Date

Particulars

Debit ($)

Credit ($)

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

22,500

Manufacturing overhead

22,500

Step by step solution

01

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.

02

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.

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