M8-5 (Algo) Recording Write-Offs and Bad Debt Expense Using the Allowance Method [LO 8- 2] Requlred: Prepare journal entrles for each transaction IIsted. (If no entry is requlred for a transactlon/event, select "No Journal Entry Requlred' In the first account field.) a. At the end of June, bad debt expense is estimated to be $12,600. b. In July, customer balances are written off in the amount of $6,300. Journal entry worksheet Record the estimated bad debt expense of $12,600. Note: Enter debits before credits. M8-5 (Algo) Recording Write-Offs and Bad Debt Expense Using the Allowance Method [LO 8- 2] Requlred: Prepare journal entrles for each transaction Iisted. (If no entry is required for a transactlon/event, select "No Journal Entry Required" In the first account field.) a. At the end of June, bad debt expense is estimated to be $12,600. b. In July, customer balances are written off in the amount of $6,300. Journal entry worksheet Record the customer balances written off in the amount of $6,300. Note: Enter debits before credits..

1. Mickley Corporation produces two products, Alpha 6 s and Zeta7s, which pass through two
operations, Sintering and Finishing. Each of the products uses two raw materials X442 and
Y661. The company uses a standard cost system, with the following standards for each product
(on a per unit basis): Information relating to materials purchased and materials used in
production during May follows: The following additional information is avallable: a. The
company recognizes price variances when materials are purchased. b. The standard labor rate is
$22.00 per hour in Sintering and $20.50 per hour in Finishing. c. During May. 1,300 direct labor-
hours were worked in Sintering at a total labor cost of $31,720, and 3,040 direct labor-hours
were worked in Finishing at a total labor cost of $68,400. d. Production during May was 2,500
Alpha6s and 1,400 Zeta7s.
Required: Complete the standard cost card for each product, showing the standard cost of direct
materials and direct labor. 2. Compute the materials price and quantity variances for each
material. 3. Compute the labor rate and efficlency variances for each operation. Complete this
question by entering your answers in the tabs below. Complete the standard cost card for each
product, showing the standard cost of direct materials and direct labor. (Round your answers to 2
decimal places.)
Complete this question by entering your answers in the tabs below. Compute the materials price
and quantity variances for each material. (Indicate the effect of each variance by selecting " F "
for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all
amounts as positive values.)
Complete this question by entering your answers in the tabs below. Compute the labor rate and
efficiency variances for each operation. (Indicate the effect of each variance by selecting " F " for
favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts
as positive values.)